LONDON, UK: Jet East, the wholly owned US subsidiary of Gama Aviation Plc, has acquired a maintenance, repair and overhaul (MRO) hangar facility in Statesville, North Carolina, adding to its extensive coast-to coast maintenance network.

The c. 90,000 sq ft facility, comprising a c. 55,000 sq ft hangar plus c. 35,000 sq ft of workshops and offices has been acquired for a cash consideration of $3.5 million.

The Group is expected to invest a further $1.5m in equipping and standing up the facility with the investment being funded from the Group’s existing cash resources and facilities.

Simultaneously, the Group has also secured a long-term ground lease from Statesville Airport for the site on which the hangar is located, allowing for the future growth of the facility.

This strategically important investment adds significant scale to Jet East’s MRO network to deliver the Company’s organic growth targets.

The new facility will be focused on providing major maintenance inspections and aircraft system upgrades. It is expected to be operational in Q1 2023.

Stephen Maiden, President, Jet East, commented: “The five-year strategic growth plan for Jet East, required the further development of its MRO footprint. The Statesville site delivers a world class facility that offers us an excellent blend of space, capability, and scope for expansion in a location complementary to our network with a strong local pool of engineering talent.

This new facility will allow us to further penetrate the business aviation MRO market and supplement the excellent relationships we have built through our existing network.”

Marwan Khalek, Group CEO, Gama Aviation Plc, commented: “The acquisition of the hangar in Statesville demonstrates our commitment to, and focused growth strategy in, the US, the world’s largest business aviation market. Once operational, the new facility will further diversify Jet East’s service offering, increasing the resilience of its business model and driving growth; further enhancing shareholder value from our US operations”.