It has been announced that Jet Aviation has signed a binding agreement to acquire Hawker Pacific for US$250 million.

Commenting on the deal, Rob Smith, president of Jet Aviation commented: “The acquisition of Hawker Pacific represents a significant step in expanding our footprint, capability and customer offer across Asia Pacific and the Middle East.

“Hawker Pacific has a wide range of services including Civil MRO, Fleet Services, FBO Network and Aircraft Sales,enabling Jet Aviation to further expand its current portfolio, enter new markets, and reinforce the company’s position as one of the world’s leading business aviation service providers.”

Alan Smith, CEO of Hawker Pacific said of the deal: “We believe the company’s acquisition by Jet Aviation represents an excellent outcome for Hawker Pacific’s investors, employees and customers. It builds on our strong values and passion for exceeding our customer’s expectations and I, on behalf of the management, am confident that the combination of the two companies will create a clear leader in the aviation space.”

Jet Aviation is a Basel-based business aviation services company and a wholly owned subsidiary of General Dynamics, employing over 4,000 staff in 30 airports throughout North and South America, Europe, the Middle East and Asia. The company is involved in aircraft maintenance, completions and refurbishment, engineering, fixed-base operations, along with aircraft management, charter services. It’s U.S. and European charter divisions operate a combined fleet of over 250 aircraft.

Hawker Pacific is the 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.