Signature Flight Support has reached an agreement to acquire St. Thomas Jet Center at Cyril E. King Charlotte Amalie Airport (TIST/STT) in St. Thomas, United States Virgin Islands.
The agreement also includes Alliance Aviation, Jet Set Rental Cars and Tri Island Energy Fuel Logistics.
The acquisition will occur in two phases: Signature Flight Support has already acquired a 49% holding and will acquire the remaining 51% of the business within 14 months.
St. Thomas Jet Center includes an executive terminal, aircraft maintenance and storage hangar and a newly constructed fuel farm. The FBO has also recently been certified as a US Customs and Immigration clearance and pre-clearance facility and is one of the first of its kind in the Caribbean.
Mark Johnstone, group CEO for BBA Aviation and CEO of Signature Flight Support, said, “We are especially pleased to welcome St. Thomas Jet Center to the Signature Flight Support global network. This agreement expands Signature’s growing presence in the Caribbean, a region where we have placed significant focus during the past few years. St. Thomas is a prime destination for our customers and complements our other locations in the region.”
St. Thomas is the most visited and most populated US and British Virgin Island and is a gateway for those with second homes or yachts based in the Virgin Islands. The Cyril E. King International Airport is one of the busiest airports for general aviation in the Eastern Caribbean.
Michael Hancock, president of St. Thomas Jet Center, commented, “Having received offers from other potential buyers, we decided that Signature Flight Support presented the best opportunity for our customers and employees alike. Through its 200-plus FBO locations worldwide, together with its premier loyalty programs and the acquisition of Epic Fuels, we are proud to add St. Thomas Jet Center to this premier global network.”