The deal to merge their respective aircraft management and charter businesses is far more significant for Gama Aviation than it is for BBA, but it is at least a useful tidying-up exercise for the latter. It has been forced on BBA by American regulators, specifically the Department of Transportation, which is unhappy with a large aircraft chartering business being wholly owned by non-US citizens.
BBA and Gama will have 24.5 per cent of the business each and the rest will be owned by outside investors. Gama is the old Hangar 8 business that some may remember and has a market capitalisation of less than £60 million.
For BBA, the deal stems from its purchase of Landmark Aviation for more than $2 billion last February, which