Four-year-old, private jet company Club328 has a new owner in PlaneChartering Ltd, based at London Biggin Hill Airport and in Cannes. The deal cements a relationship that started last summer when PlaneChartering started selling Club328 flights in the South of France, Europe’s strongest market for private jet travel, resulting in the doubling of its sales figures.
PlaneChartering, the trading name of Mitre Aviation Ltd, is an aircraft operator and flight broker, selling private jet charter around the world. It operates a fleet of two Cessna Citation 2s and one Beechcraft King Air E90, the aircraft VLJs are designed to replace. Club328’s fleet of Dornier 328 jet, Beechcraft Premier 1s and Hawker 800s. PlaneChartering will become the main brand, offering competitively priced, on-demand charter with its enlarged fleet and worldwide brokerage.
Club328 CEO Elaine Young, who joined the company in November last year, will remain in her present role and oversee day-to-day AOC operations for PlaneChartering in new hangar facilities at Biggin Hill. Paul Crowther, owner of PlaneChartering Ltd, becomes Group CEO, overseeing PlaneChartering’s sales team and Avtech, a Biggin Hill-based aircraft maintenance organization, which PlaneChartering is also in the process of acquiring. The Avtech acquisition includes office space and two hangars. Avtech will continue to maintain PlaneChartering’s Citation and King Air fleet, while the Dornier, Hawker and Premier 1 aircraft will continue to be maintained by J.E.T.S (Jet Engineering Technical Support) at Southampton Airport.
General Capital, a specialist working with IPO growth companies, provided the funding for this acquisition. “This is an exciting growth market,” said Mark Edworthy, managing director of General Capital. “The combination of these three businesses provides a strong platform from which to grow a leader in business jet charter. We look forward to helping the management team groom itself for entry into the alternative investment market in early 2008.”
Club328 will move from its Southampton Airport to a new home at Building 170, Churchill Way, Biggin Hill Airport at year end. The new premises will incorporate a customer lounge and business aviation terminal facilities. The PlaneChartering operation in the South of France will complement Club328 Mediterranean, established in summer 2006 in Palma, Mallorca.