London-based Ocean Sky is thinking big as it takes steps to minimise the effects of any global recession while expanding its fleet and European operational base.

The company is assessing FBO acquisitions in continental Europe as it pursues its commercial target to turn the current seven large jets in service into a fleet of 20 by the end of 2009. "We have recently taken delivery for management of a factory fresh G550 and this is going to be the first aircraft of its type on a British AOC," Kurosh Tehranchian, Ocean Sky ceo, says. "This follows hard on the heels of a managed Global 5000."

Two Challenger 605s, both owned by Ocean Sky, are also coming into service mid-April, augmented by an Ocean Sky XRS being delivered in June. But despite continued rapid progress in establishing a European FBO network and heightening maintenance capacity, Ocean Sky says it is prepared for any downturn in demand. Detailed market analyses confirm that demand for large jets is likely to be the sector that best weathers any recessionary downturn and slackening in demand for private aviation services.

Tehranchian says: "Those individuals who use the larger jets tend to do so as part of a lifestyle decision that holds good even in the event of an economic slowdown or even a recession. Users of smaller jets at the lower end of the market, however, are more prone to review their mode of transport if budgets become tighter." He adds: "Ocean Sky is confident that the demand for the comfortable big jets with range will remain robust - it is common knowledge that Russia and the Middle East are among burgeoning markets with India and China to follow - but we are far from complacent."

Ocean Sky also believes it is sensible to have a high proportion of company-owned aircraft. "Owners of managed aircraft can sell and charter if they want to address cash flow," Tehranchian points out. "I think we are riding the crest of a fantastic wave but no-one should take anything for granted especially given the troubles in some sectors of the global financial system. If there is a downturn, there's no doubt that the private jet sector will be affected. But, as a growing group, we are well placed and operate tight financial disciplines. We meet our running costs out of income and borrowing is confined to capital acquisitions of assets such as aircraft and facilities. We know this will stand us in very good stead if leaner times are ahead."

Ocean Sky believes the VLJ market in Europe will be buoyant but has decided not to join operators acquiring the likes of Phenoms and Mustangs. However, its offering of three Learjet 45s, a Learjet 60 and a CJ3 will be added to, albeit at a slower pace in keeping with its "think big" strategy."

The company, which has quadrupled its FBO facilities at Prestwick in Scotland, has completed its "own branding" of its Manchester FBO acquisition and its integrated maintenance and hangarage facilities, and is now turning serious attention to Europe.

Tehranchian says: "We have offices in Moscow, Munich and Zurich and offer private jet charter, management, sales, acquisitions, handling and maintenance at the former Northern Executive Aviation (NEA) site. Manchester is an important step in building a chain of well-respected FBOs. But to fulfill our ambition of being a fully integrated aviation company we need a strong and strategic continental European FBO presence. We are not yet ready to make any further acquisition announcements but I can confirm we are assessing the merits of certain airport locations in detail."