Gama Aviation’s profit up 33% after ‘transformative effect of Jet East acquisition’
Summary
Marwan Khalek, chief executive, Gama Aviation welcomed the group’s improved revenue and EBITDA performance in core markets and highlighted the contribution of US maintenance, repair and overall (MRO) company Jet East. Gama highlighted continued investment in airport infrastructure with the acquisition of a hangar in Statesville, North Carolina, to provide additional capacity and fuel further organic growth. It also noted strong US sales of aviation, enterprise resource planning software products in its Technology and Outsource unit. Two contract wins in the fourth quarter of 2022 achieved by its Special Mission strategic business unit also boosted the company’s full-year financial performance, according to the results statement. The plans are said to include provision for new facilities to transfer patients by air ambulance, aircraft servicing space and a terminal for private jet passengers.