By Ian Walker
Gama Aviation is selling Jet East to West Star Aviation Enterprises for $131 million and plans to return some of the funds to shareholders.
The business aviation services company said Wednesday that it expects to receive a net sum of $100 million from the sale and return about 55 pence a share to shareholders.
The sale is conditional upon shareholder approval at a general meeting to be held on Nov. 3, with completion due shortly thereafter.
Jet East reported revenues of $118.2 million in 2022 and adjusted earnings before interest and taxes of $1.3 million.
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