Avia Solutions Group to acquire Chapman Freeborn
Avia Solutions Group, a multipurpose aviation holding, is to acquire 100% of the shareholding in UK-headquartered Chapman Freeborn Group - a worldwide provider for aircraft charter solutions.
The acquisition agreement was signed in London on 14 June. As part of the Avia Solutions Group, Chapman Freeborn will maintain its existing product portfolio and continue to operate under the group’s existing brands - including subsidiaries Chapman Freeborn Airchartering, Chapman Freeborn OBC, Intradco Cargo Services, Logik Logistics, Magma Aviation, and Wings 24.
The consolidated revenues of the two entities amounted to EUR 800 million for 2018 and are forecast to exceed EUR 1 billion in 2019. After the acquisition is completed, subject to customary approvals, Avia Solutions Group will own 66 companies in 26 countries worldwide, with approximately 3,300 professionals on its payroll. (mw)