Gama Aviation Plc (AIM:GMAA) acquired Jet East Corporate Aviation, LLC from East Coast Aviation, LLC for $7.7 million on January 15, 2021. The transaction consideration includes $7.7 million in cash, with further deferred cash payable over two years and the assumption of $3.2 million of Jet East debt. The transaction has been entirely funded from the group's existing resources. In order to preserve the strong brand equity of both organizations, the combined entity is going to market as Jet East, a Gama Aviation company. In 2019, Jet East reported revenues of $29.5 million and an underlying EBIT of $1.2 million inclusive of a depreciation charge of $0.3 million. The net assets of Jet East as of December 31, 2019 were $6.7 million. Stephen Maiden will lead the combined companies as Chief Executive Officer. Gama Aviation Plc (AIM:GMAA) completed the acquisition of Jet East Corporate Aviation, LLC from East Coast Aviation, LLC on January 15, 2021.