BBA Aviation agrees disposal of six FBOs for $190 million

Published on : Wednesday, March 30, 2016

bba aviationThe focused Business and General Aviation (“B&GA”) value added service provider, announces the sale of six FBOs, as agreed with the U.S. Department of Justice under the terms of the regulatory approval for the acquisition of Landmark Aviation (“Landmark”), for an aggregate consideration of $190 million to affiliates of KSL Capital Partners, LLC (“the transaction”).


In connection with the transaction, KSL has partnered with Jeffrey Ross, the former president and CEO of Ross Aviation, who will manage the Divestiture Assets following the closing of the transaction. The transaction is subject to customary approvals, including airport consents and approval by the U.S. Department of Justice, and completion is expected in due course.



As previously announced on 3 February, under the terms of the regulatory approval in connection with the acquisition of Landmark Aviation, the Company was required to sell six legacy Landmark FBOs at: Westchester County Airport, New York; Washington Dulles International Airport, Virginia; Scottsdale Airport, Arizona; Ted Stevens Anchorage International Airport, Alaska; Jacqueline Cochran Regional Airport, California; and part of the Landmark facilities at Fresno Yosemite International Airport. These FBOs together contributed $16.1 million of EBITDA in 2014. Proceeds of the transaction will be used to repay existing debt facilities, including in its entirity the $150 million short term debt facility raised as part of the financing package for the transaction.



Commenting on today’s announcement, Simon Pryce, Chief Executive of BBA Aviation, said:


“We are pleased to announce this successful disposal, which follows the transformational acquisition of Landmark Aviation. Since completion of the acquisition in February, we have made good progress with the integration which is proceeding to plan. We look forward to updating the market in due course as we realise the full potential of the expanded Group.”




Source:- BBA Aviation

Tags: , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo


  • 03 itb-asia 2017
  • 04 Imex America 2017
  • 10 Globalwellnesssummit 2017
  • 11 AHIF 2017
  • 12 TTF17
  • 13 Frontiers Forum 2017
  • 14 bltm 2017
  • 15 leisure 17
  • 16 SKAL 17
  • 17 hospitalityqatar 17
  • 17 worldmiceday 2017
  • 18 worldmiceday 2017
  • 19 IITM
  • 19 TTG Incontri 2017
  • 43 PATA


Get our toolbar!
Review on