Spanish business aviation group Gestair (Stand 450) and the country’s flag carrier Iberia have joined in a 50-50 joint venture to create Corjet Maintenance. Corjet specializes in maintenance of business jets, as well as providing logistics and parts support. Gestair started the company two years ago and Iberia joined as a partner in December last year, and the partners believe they will soon be achieving revenues of almost $15 million per year.

Corjet Maintenance, based at Madrid-Barajas Airport, has a staff of 59. Gestair claims a 41-percent share of the business aircraft management market in Spain.