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Wednesday, October 23, 2013

Elite Aviation Closes on $50 Million in Financing

Private jet company Elite Aviation, based in Los Angeles, said it has closed a $50 million growth capital commitment, which the company said will be used strategically across multiple fronts to substantially expand the company’s global footprint.
Elite said in addition to a "very significant fleet expansion," it will go “on the hunt” for geographically strategic acquisitions as well as companies complementary to its core business throughout North America and Europe. The company said it is also evaluating investments in complementary niches including, but not limited to, cargo operations, Part 121 commercial aircraft charter operations, maintenance operations, high-end concierge services, aircraft sales operations and other opportunistic investments.
“With the backing of our institutional private investors and one of the strongest balance sheets in the industry, Elite Aviation will now be able to strategically and aggressively move forward to create an integrated private aviation company second to none.  We will expand operations, create synergistic alliances and bring our unmatched Elite Aviation Experience service to private flyers worldwide -- Elite Aviation will now aggressively move forward to realize my vision in setting the new standard in high quality private jet service," said Chris Holifield, president and CEO of Elite.

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