Jet Aviation to Acquire Hawker Pacific

Jet Aviation and Hawker Pacific today announced that Jet Aviation has entered into a binding agreement to acquire Hawker Pacific, a leading provider of integrated aviation solutions across Asia Pacific and the Middle East, for US$250 million. Completion of the transaction is subject to customary closing conditions.

Jet Aviation, a wholly owned subsidiary of General Dynamics (NYSE: GD), was founded in Switzerland in 1967 and is one of the leading business aviation services companies in the world. More than 4,000 employees cater to client needs from 30 airport facilities throughout Europe, the Middle East, Asia and North America and the Caribbean. The company provides maintenance, completions and refurbishment, engineering, FBO and fuel services, along with aircraft management, charter services and personnel services. Jet Aviation's European and U.S. aircraft management and charter divisions jointly operate a fleet of more than 250 aircraft. 

Hawker Pacific is a market leader in integrated civil and military aerospace sales and product support in the Asia Pacific and Middle East. It operates established businesses in Australia, New Zealand, Singapore, Malaysia, Philippines, China and the United Arab Emirates. It supports a wide range of fixed wing aircraft and helicopters for corporate, charter, defence and special mission operators.