Acquisition of Malta Base and award of Maltese AOC

RNS Number : 6214W

Hangar 8 Plc

02 February 2012

 



02 February 2012

HANGAR 8 PLC (AIM: HGR8)

("Hangar8" or "the Company")

Acquisition of Malta Base and award of Maltese AOC

Hangar8, one of Europe's leading operators of private jets, and now the world's largest charter operator of Hawker aircraft, announces that it has acquired an initial 49% interest, with an option to gain 51% control, in a new business ("the Joint-Venture") established in Malta.  The Joint-Venture is with two private investors who will provide working capital while Hangar8 will contribute its marketing and proven management expertise. 

The acquisition of a base in Malta results from the country's creation of a new aircraft register following The Malta Aircraft Registration Act, which came into force on 1 October 2010.  Malta's ambition is to develop its aviation sector in order to build one of the biggest aircraft registers in Europe as well as to explore and develop related areas such as aircraft maintenance, human resource training in the sector, aircraft management services and other support areas.

Michael O'Brien, Chief Executive, Hangar 8 Malta commented "The benefits of the link with Malta are that the country has positioned itself as a service-oriented and  tax efficient jurisdiction to own and operate aircraft and therefore will be seen as an attractive home for new owners.  The establishment of our Joint-Venture with Hangar8 enables us to accelerate our original business plan by a couple of years. The Civil Aviation Directorate within the Authority for Transport in Malta ("Transport Malta") has provided us from the outset a very personal and professional process when going in search of our EU OPS Air Operators Certificate which was awarded on the 20^th January.  In addition our experience with Asian countries will assist Hangar8 entering this particular market where it sees strong growth coming through in the future." 

Dustin Dryden, Chief Executive, Hangar 8 plc commented "This acquisition of a presence in the new corporate aviation market in Malta, at no cost to shareholders, illustrates the strength of the Hangar8 brand and allows us to participate in what we believe will become a significant aircraft register due to its location and its financial terms.  Malta is now a very attractive destination for owners to register their aircraft, for whom we will provide the same high quality services, now including maintenance through our EASA 145 Approval, that we provide to owners elsewhere."

Dr Stanley Portelli, Chief Executive Officer, Transport Malta commented "We are proud to be associated with Hangar 8 through their investment in Malta. Their choice of Malta vindicates the Maltese government's continuous efforts in establishing our island as the jurisdiction of choice for service-oriented cutting edge industries. Working with Michael and his team immediately gave us strong indications that we were dealing with a serious operator and we will endeavour to work on adding value to their business by being responsive and sensitive to their requirements."

For further information please visit www.hangar8.co.uk or contact:

Hangar 8 plc	Tel: [phone]
Philip Brady / Dustin Dryden
Daniel Stewart and Company plc	Tel: [phone]
Paul Shackleton / James Thomas
Tavistock Communications	Tel: [phone]
Simon Hudson / Simon Compton

NOTES TO EDITORS

About Hangar8:

Established in 2002, Hangar8 is one of Europe's leading operators of private jets.  With worldwide capabilities, Hangar8 operates some of the newest, safest and most desirable aircraft available for those who appreciate and understand the value of provenance. With aircraft based worldwide and fleet bases at Oxford, Luton, Biggin Hill, Edinburgh, Guernsey, Jersey, Nice, Almaty, Kiev, Dubai, Krasnodar, Mumbai, Abuja, Lagos and Moscow airports, Hangar8 is not only ideally situated but has at its disposal some of the finest terminal facilities.

Hangar8's ambition is to have the right aircraft within one and a half hours of any customer wherever they are in the World, outside the Americas and Australasia.  The Company plans to achieve this through organic growth and through consolidating the fragmented sector in which it operates.

Hangar8 now operates 30 private jets - a modern fleet maintained to the highest standards.  Hangar8's aircraft types differ in size and range offering a complement of capabilities from short European hops to trans-continental voyages.

Hangar8's clients come from a wide variety of backgrounds including music, sport and corporate - all of whom expect and receive the same level of exemplary service.

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