Gama Aviation to list on London Stock Exchange as it merges with Hangar8
Gama Aviation, in which Crescent Enterprises has a stake, will list on the London Stock Exchange at the beginning of next year, as the private jet company concludes a merger with the British jet operator Hangar8.
Gama Aviation PLC, the merged public company, which will be headquartered at Farnborough Airport in the UK, said it expected a market capitalisation of around US$200 million after its flotation. The listed company will have 144 aircraft under management, and operate from 44 locations in 15 countries.
Gama opened a $15m private aviation hub airport in Sharjah in July, and plans to add new hangar facilities next year. The company has been the exclusive operator of business aviation at Sharjah International Airport since 2012, where its regional headquarters is based.
Hangar8’s operations focus on Europe and Africa, while Gama Aviation has operations in North America, the UK, Continental Europe, Africa, the Middle East, Asia and South America.
The Middle East Business Aviation Association expects that the value of the region’s business aviation industry (private jets and executive travel, excluding commercial airlines) will reach $1.3 billion by 2020, up from around $500m this year.
Honeywell Aerospace’s 2014 Global Business Aviation Forecast predicts average annual industry growth globally of 4 per cent over the next 10 years.
Follow The National’s Business section on Twitter
Published: December 9, 2014 04:00 AM