Greenwich AeroGroup To Acquire Banner Aerospace

AINmxReports » May 27, 2009
May 27, 2009, 11:11 AM

Greenwich AeroGroup has entered into an agreement to acquire the assets of Banner Aerospace Holding and its aviation subsidiaries. Banner’s parent company Fairchild is in Chapter 11 bankruptcy. Greenwich AeroGroup prevailed in a four-party auction conducted by the U.S. Bankruptcy Court for the District of Delaware. “We are excited to have the opportunity to acquire Banner Aerospace and its team of proven aviation professionals,” said Gerry Goguen, executive vice president of Greenwich AeroGroup. “This acquisition enables Greenwich AeroGroup to expand our portfolio of services while enhancing our supplier relationships.” Greenwich AeroGroup is a holding company that owns and operates providers of general aviation services, including maintenance and avionics; fixed-base operations; aircraft sales, charter and management; interior refurbishment; manufacturing and engineering; and parts distribution. Current locations include Atlantic Aero, at Piedmont-Triad International Airport in Greensboro, N.C.; Western Aircraft, at Gowen Field in Boise, Idaho; and Summit Aviation, at Summit Airport in Middletown, Del.

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