Jet East disposal circular

Gama Aviation agrees to sell Jet East for $131m

On 18 October 2023 the Company announced it had conditionally agreed to sell the Group’s US MRO Business, Gama Aviation (Eng) Inc. (“GAEI”), trading as Jet East (“Jet East”), to West Star Aviation for an amount of approximately US$131 million on a cash free/debt free basis with normalised working capital. The transaction will be implemented through the sale by the Company of Gama Group Inc. (“GGI”), the Group’s US holding subsidiary, which owns GAEI.

For the Disposal to proceed, the Company requires Shareholder approval. We are therefore convening a General Meeting for which we have received irrevocable undertakings (equivalent to approximately 50.3 per cent. of the issued share capital and total voting rights of the Company) to vote in favour of the Resolution. As the level of these undertakings exceeds 50 per cent. of the issued share capital and total voting rights of the Company, the Resolution is expected to be passed and the Disposal is expected to complete shortly following the General Meeting.

The General Meeting is to be held at the offices of the Company at First Floor, 25 Templer Avenue, Farnborough, Hampshire, GU14 6FE at 9.00 a.m. on 3 November 2023. The formal notice of General Meeting is set out within the Circular.

Circular Proxy Form

Message from the CEO

“Our 2022 results showed the continued improvement that the Group is making in revenue and EBITDA performance in its core markets. It is particularly pleasing to see the transformative effect the addition of Jet East has had to our US MRO business and how the additional focus we’ve placed on the Special Mission sector will deliver future financial performance through the capture of attractive multi-year contracts.

Despite the progress we have made there remains more work to do in what is likely to become an increasingly challenging environment. However, I am firmly of the belief that given our strategic direction, the commitment and dedication of our people and the actions we are taking to improve our performance, we will continue to build positive momentum in 2023.”

Marwan Khalek, Group Chief Executive Officer, Gama Aviation Plc

Marwan Khalek

Annual Reports

Investor presentations & reports 1
We are delighted to present our annual report for the full year ending 31st December 2022.
FY2022 Annual Report

Investor presentations

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Archive documents

The following documents contain financial details from the period 2014 to 2011 prior to the reverse takeover of Hangar 8 Plc.