Merger Creates New Commercial Jet Holding Company | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** Airborne 07.23.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 07.23.14 **
** Airborne 07.21.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 07.21.14 **
** Airborne 07.18.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 07.18.14 **

Thu, Jan 27, 2011

Merger Creates New Commercial Jet Holding Company

Jetscape Aviation Company And M1 Tie The Knot

A new commercial jet holding company was created Wednesday when Jetscape Aviation Group completed a merger and restructuring transaction with M1 Commercial Jets, Ltd. (“M1CJ”). The Tortola based M1CJ was previously owned by M1 Leasing, a subsidiary of the private investment holding - M1 Group (“M1”).

Jetscape and M1CJ have successfully established a new holding company, Jetscape Aviation Group Ltd. (“JAG Ltd.”) based in the British Virgin Islands. JAG Ltd is now 57% owned by M1 Leasing, while Jetscape’s original shareholders maintain 43% of the holding. The shareholders have collectively subscribed to $37M in new equity capital.

The newly formed group will be run by Jetscape’s existing management team, lead by John Evans as Chairman and CEO, and will trade under the Jetscape brand. The JAG Ltd. Board of Directors will comprise four prior Jetscape directors along with five directors appointed by M1. As a result of the transaction, Jetscape has diversified its portfolio and the company’s capital base, revenue and earnings have more than doubled. With the merger, Jetscape has solidified its position as a global leader in the 70-120 passenger aircraft leasing market.

The combined group’s balance sheet will have approximately $560 million in total assets, $405 million in total liabilities and $155 million in shareholders’ equity.

JAG Ltd. owns and manages 35 aircraft on lease to 18 airline operators in 15 countries, including the ownership of 18 Embraer E-Jets on lease to 9 operators in 9 countries with a total average fleet age of less than 3 years. The group has a remaining firm order backlog with Embraer for four E-Jets, up to 10 purchase options and up to 10 purchase rights. All, but one, of the firmly contracted deliveries is committed for lease.

“M1 is a respected and successful global investor that brings a wealth of knowledge, experience and considerable capital resources to Jetscape," said John Evans, Jetscape’s Chairman and CEO. "The diversity of our shareholding group, which now includes our management team and high net worth investors from three continents, reflects the international market that we serve and remains a differentiating factor for Jetscape. In addition to their many investments, M1 is the largest private shareholder of Royal Jordanian Airlines (a Jetscape customer), thus a major contributor to Jetscape’s future success in the rapidly developing Middle Eastern and African aviation markets.”

FMI: www.jetscape.aero

Advertisement

More News

NBAA Establishes New Weather Subcommittee

FAA Officials On Hand For The Announcement Of The Group NBAA President and CEO Ed Bolen on Monday announced the formation of a new NBAA group focused on improvements in aviation we>[...]

U.S. House Hearing Will Examine State Of U.S. Aviation Manufacturing

Witness List Includes AEA's Blakey, GAMA's Bunce The Aviation Subcommittee of the U.S. House Transportation Committee, chaired by Congressman Frank LoBiondo (R-NJ), will hold a hea>[...]

ANN's 'Who's Who' At Oshkosh: Katherine Tryon

Introducing Staff, Stringers, Videographers, And People Who Make It All Work Anyone who's ever been to Oshkosh knows that there are hundreds of events and activities as well as ten>[...]

Appeals Court Says FAA May Not Prevent Texas EquuSearch From Using Drones

Once Again, A Federal Judges Has Ruled That The FAA Cannot Stop The Use Of Commercial Drones Unless They Are Enforcing Published Regulations ... The FAA Has A Differing Opinion Ear>[...]

ANN's Daily Aero-Linx (07.23.14)

Expert Craft Building or restoring your own airplane, or even considering a homebuilt project? This site allows you to keep a complete online log of your project, complete with not>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC