Gama Holdings says its managed fleet will exceed 60 aircraft following its acquisition of PrivatAir, Inc, the US-arm of the Swiss-based PrivatAir Group. "It is a significant acquisition as the group enters its 25th year of operation," says Marwan Khalek, Gama's ceo and founder. The price is not being disclosed.

Headquartered at Farnborough airport in the U.K., Gama focuses on activities including aircraft ownership, charter services, business aircraft management, medical transport operations and aircraft maintenance.

Khalek adds: "Gama has enjoyed significant growth over the past 25 years, particularly in the last six. This year has seen our expansion in a number of key markets to make Gama one of the leading international business jet companies. PrivatAir, Inc. enjoys an excellent reputation throughout the United States, a crucial market for any international business aviation company, and we look forward to working with our successful team in continuing to deliver the highest standards of safety, customer care and service."

The company will be branded as Gama Aviation, Inc. and will remain based in Stratford, Connecticut. Gama is already present at Teterboro, New Jersey. Khalek points out that the Gama fleet comprises aircraft from all of the major manufacturers.

PrivatAir says it will be focusing major efforts on developing its European. Middle East and Russian business. "We believes that the current buoyancy of the US private aviation market makes it the perfect time to sell our US division," says Greg Thomas, PrivatAir ceo. "Following the sale, PrivatAir SA is now ideally placed to aggressively target new growth markets."

He adds: "We always keep an eye out for good investments but we do not have any specific acquisitions in mind at present. In addition to the proceeds from the acquisition we have substantial cash reserves and this leaves us well placed."