Gama Aviation looking to buy Tyrolean Jets & Services

Gama Aviation has issued a stock market announcement revealing it is in talks to buy Austrian operator Tyrolean Jets & Services.

Although Gama Aviation is de-listing from London’s AIM exchange and is no longer publicly trading it needed to comment on speculation under UK law as shares are still outstanding.

The statement says that the sale has not been completed but the two companies are in discussions.

Tyrolean Jets & Services (TJS) launched in 1978 as Austria’s first business jet operator. As well as Austria it also holds air operator certificates (AOCs) in Malta and San Marino.

Marwan Khalek, CEO of Gama Aviation, said at Corporate Jet Investor Middle East that the business is keen to grow its aircraft management business. Gama Aviation has cash for acquisitions following the sale of its US maintenance business Jet East in October 2023 (although some of this has been used to take the company private). Gama Aviation has also hired Graham Williamson, formerly of ACASS Europe and TAG Aviation, to grow its aircraft management business.

Gama Aviation already has bases in the UK, Dubai and Jersey. TJS would give it the opportunity to add Austrian, Italian and Swiss owners.

“Discussions between the Group and TJS are ongoing, and they remain subject to further negotiations, diligence, and Board approval; as such they are not expected to be concluded until after the Company’s delisting from AIM. Accordingly, there can be no certainty any transaction will be completed and, if it does, on what terms such a transaction might take place,” said Gama Aviation in the statement.

TJS was founded as Aircraft Innsbruck as the flight department for Swarovski the jewellery and crystal company. It is one of the best known Austrian operators.