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Gold Air International
12/10/2006
Air Partner is to acquire Gold Air International, the Biggin Hill-based private jet operator, for £4.4m. Air Partner is the world's leading charter broker and the acquisition marks the company's first venture into the management and operation of private jets for 23 years. Gold Air International is currently owned by the mulit-millionaire brothers David and Ralph Gold. Air Partner will pay the brothers £1.4m in cash, and will also pay off Gold Air's £3m debt with National Westminster Bank. A further payment of £940,000 is to be paid into an escrow account following the settlement of Gold Air's assets. Gold Air currently operates a Hawker 800 and six new Learjet 45s under management contracts.
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