Mergers A Sign Of The Times
After years of expansion, is the business jet charter business in for some rationalization? The owners of Corsair Aviation LLC and ACM Aviation say mergers like the one they completed last week are helping the business weather a decline in business. "By combining fleets, we will be able to add more services and efficiencies," ACM President Dan Ryan told the San Jose Business Journal.
Although ACM recorded more than $25 million in revenue last year, business is actually down by five percent over previous years and it's part of a trend throughout the industry. ACM joins a family of aircraft companies under Corsair's ownership that includes Minneapolis-based Jet Choice and Austin-based Capitol Wings. With the acquisition of ACM, Corsair adds a traditional charter company to its jet card and jet club operations as recent studies show a shift from time share and ownership share arrangements to straight aircraft charter for companies that are cutting back on business aircraft use.