|HongKong Jet has offered to purchase Asia Jet. Photo: Asia Jet
[Avionics Today 04-14-2016] Hongkong Corporate Jet Management has made a formal offer to purchase Asia Jet Partners and the two aircraft charter companies have signed a Letter of Intent (LOI). In the proposed agreement, announced at the 2016 Asia Business Aviation Conference and Expo (ABACE), Hongkong Jet would acquire Asia Jet together with its subsidiary Asia Jet Partners in Shanghai and its joint venture business unit in Malaysia, Berjaya Vacation Club Berhad.
The acquisition aims to strengthen the position of both companies, expanding the collective service offering and economies of scale benefits to the enlarged client base. From an aircraft charter perspective it will for instance be possible to offer services under USA, Bermuda and Hong Kong commercial registration’s.
The two companies are looking to close the agreement the within the second quarter of 2016.