NULLJet Aviation Powers Up
TETERBORO The Swiss parent company of aviation-services provider Jet Aviation has agreed to buy Midcoast Aviation from its owner, Sabreliner. The price has not been disclosed. As a result, St. Louis-based Midcoast, which specializes in jet maintenance and modification, will become a part of Jet AviationÂs United States operations, which are based at Teterboro Airport. The deal, subject to various regulatory approvals, is expected to close by March.
Casting an eye towards further expansion, Jet Aviation plans to hire at least 100 new workers at Teterboro, St. Louis, Dallas and West Palm Beach, Fla. Midcoast currently employs 850 people and reported net sales of $138 million last fiscal year. As a result of the acquisition, Jet Aviation will employ more than 4,500 and anticipates sales in excess of $800 million in 2006.
