General Dynamics Completes Jet Aviation Acquisition
Gulfstream Aerospace parent General Dynamics today finalized its purchase of Zurich, Switzerland-based Jet Aviation for approximately $2.18 billion, significantly expanding the General Dynamics aftermarket service footprint around the world. The move not only increases General Dynamics’s maintenance and completions/refurb capability worldwide but also adds 15 FBOs to its portfolio, including five in the U.S. At Gulfstream’s Savannah, Ga. headquarters, former maintenance/refurb competitor Savannah Air Center is now part of General Dynamics. According to General Dynamics, the Jet Aviation and Midcoast Aviation (including Savannah Air Center) brands will be retained along with current management. Savannah Air Center is an authorized completions center for Bombardier’s Global 5000 and Global Express XRS and Jet Aviation is an authorized completion center for Dassault Falcon in Basel and for Bombardier at Midcoast Aviationin St. Louis. The Jet Aviation acquisition also expands General Dynamics’s global maintenance capability, adding facilities in China, Germany, the Middle East, Malaysia, Russia and Singapore.