Hangar8 acquires Malta base

Hangar8, one of the largest operators of private jets in Europe, has acquired an initial 49% interest - with an option to gain 51% control - in a new business in Malta.

The ceremony of their acquisition of a base in Malta and the granting of their air operator's certificate is taking place this morning at Malta International Airport. Transport Minister Austin Gatt is presiding over the ceremony.

Their acquisition of a base here was made possible following the creation in Malta of a new aircraft register following The Malta Aircraft Registration Act, which came into force in October 2010.

The company will operate in Malta as Maleth Aero and will be based at Skyparks Buisness Centre.

Through its new business, Hangar8 goes into joint venture with two private investors who will provide working capital while Hangar8 will contribute its marketing and management expertise.

Chief Executive Hangar8 Malta Michael O'Brien said that the benefits of the link with Malta are that the country has positioned itself as a service-oriented and tax efficient jurisdiction to own and operate aircraft and therefore will be seen as an attractive home for new owners. The company's experience with Asian countries, he said, will assist Hangar8 enter this market where it sees strong growth in future.

Established in 2002, Hangar8 is one of Europe's leading operators of private jets. Its ambition is to have the right aircraft within one and a half hours of any customer wherever they are in the world, outside the Americas and Australasia. The company plans to achieve this through organic growth and through consolidating the fragmented sector in which it operates.

Hangar8 now operates 30 private jets. Its aircraft types differ in size and range offering a complement of capabilities from short European hops to trans-continental voyages.

Its clients come from a wide variety of backgrounds including music, sport and corporate.