Gama Aviation Plc

GMAA

GB00B3ZP1526

Airlines

Market Closed - London S.E. Other stock markets 11:35:04 2024-04-26 am EDT			5-day change	1st Jan Change
94 ^GBX	0.00%		+1.08%	-1.05%

Apr. 24	88 Energy firms bookbuild; Gama Aviation inks deal	AN
Apr. 24	Gama Aviation Partners with Department 13 to Deliver A New Counter UAS Proposition	CI

Gama Aviation shares up as completes USD131 million sale of Jet East

November 03, 2023 at 10:50 am EDT

(Alliance News) - Gama Aviation PLC on Friday confirmed the sale of its US maintenance, repair and operations business Jet East for USD131 million.

Shares in Gama were up 8.6% to 95.00 pence each in London on Friday afternoon. Over the last 12 months, the stock has jumped 47%.

In October, the Farnborough, England-based aviation services company announced the sale of Jet East to West Star Aviation Enterprises LLC.

On Friday, Gama shareholders approved the sale.

It also said that it is continuing to review the current and future capital requirements of the company.

Gama said it expects to returns a "substantial" proportion of the proceeds to shareholders. "Further details of the amount, proposed timing and method of such return will be announced in due course," it noted.

Chief Executive Marwan Khalek said: "We are delighted to announce the completion of the sale of Jet East to West Star Aviation. It delivers excellent value for Gama Aviation, realising substantial funds to return to our shareholders, strengthen our balance sheet and invest in our Special Mission, Technology & Outsourcing and Business Aviation strategic business units."

By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Latest news about Gama Aviation Plc

88 Energy firms bookbuild; Gama Aviation inks deal	Apr. 24	AN
Gama Aviation Partners with Department 13 to Deliver A New Counter UAS Proposition	Apr. 24	CI
Alpha Real Trust says in "robust" financial shape	Mar. 01	AN
ReNeuron warns; Gama Aviation pledges cash return	Feb. 05	AN
Gama Aviation to Launch GBP16.5 Million Tender Offer	Feb. 05	MT
Gama Aviation Plc announces an Equity Buyback for 17,500,000 shares, representing 27% for £16.5 million.	Feb. 05	CI
Gama Aviation plc Provides Group Revenue Guidance for the Fiscal Year 2023	Feb. 05	CI
Gama Aviation Plc authorizes a Buyback Plan.	Feb. 04	CI
EARNINGS AND TRADING: Asia Strategic loss narrows; Verici Dx grant win	Jan. 31	AN
Gama Aviation Plc acquired Business of Specialist Aviation Services Limited.	Jan. 30	CI
Gama Aviation Confirms Talks to Acquire UK-based Specialist Aviation Services Ltd	Jan. 08	MT
Gama Aviation in talks to buy Specialist Aviation business	Jan. 08	AN
Gama Aviation Confirms Is in Discussions to Acquire the Business of Specialist Aviation	Jan. 08	CI
Gama Aviation Completes $131 Million Divestment of Jet East	Nov. 03	MT
Gama Aviation shares up as completes USD131 million sale of Jet East	Nov. 03	AN
Gama Aviation Shareholders Approve Sale of Jet East	Nov. 03	MT
AIM WINNERS & LOSERS: Gama Aviation eyes returns from Jet East sales	23-10-18	AN
Gama Aviation to Sell Jet East Business in $131 Million Deal; Stock Soars	23-10-18	MT
Gama Aviation shares surge on agreeing to sell Jet East to West Star	23-10-18	AN
West Star Aviation, LLC completed the acquisition of Gama Aviation Engineering, Inc. from Gama Aviation Plc for approximately $130 million.	23-10-17	CI
West Star Aviation, LLC entered into a definitive agreement to acquire Gama Aviation Engineering, Inc. from Gama Aviation Plc for approximately $130 million.	23-10-17	CI
The FTSE 100 Closed Up as UK Retail Sales, Consumer Confidence Data Offers Economic Hope	23-09-22	DJ
Gama Aviation grows revenue in tough times but says outlook "cautious"	23-09-22	AN
Gama Aviation Plc Reports Earnings Results for the Half Year Ended June 30, 2023	23-09-22	CI
FTSE 100 Closes Down 0.3% Amid Increasing Concerns of Fed's Rate Hike	23-06-08	DJ

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Company Profile

Gama Aviation Plc is a United Kingdom-based business aviation services company. The Company has three business units: Business Aviation (Aircraft Management, Charter, FBO & Maintenance), Special Mission (Air Ambulance & Rescue, National Security & Policing, Infrastructure & Survey, Energy & Offshore); and Technology & Outsourcing (Flight Operations, FBO, CAM software, Flight Planning, CAM & ARC services). The Business Aviation excluding MRO US CGU represents services provided to its private and corporate clients to safely enable their private jet travel requirements. The Special Mission CGU represents services provided to governments and corporations which rely on aviation assets to perform a specialized, often time critical, mission. The Technology & Outsourcing CGU represents advisory, technology, and outsourcing services to aviation clients who seek to gain a decisive advantage using real and near real time intelligence. It serves private individuals, corporations, and governments.

Sector

Airlines

Calendar

2024-05-23 - Q4 2023 Earnings Release (Projected)

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Sector Charter & Private Air Services

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