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Maguire Aviation to Purchase Skytrails Aviation
LOS ANGELES-(Business Wire)-January 31, 2008 - Maguire Aviation has entered into an agreement with Skytrails Aviation ("Skytrails"), a fixed based operator ("FBO") at the Van Nuys Airport, to acquire Skytrails' business operations and holdings at Van Nuys Airport.
"My wife, Kathy Sullivan, and I have operated Skytrails as a family-owned operation servicing the Van Nuys airport since 1985. Over this time we have built a relationship with our employees, customers and the neighboring communities so it was imperative that we sell to a company with Maguire Aviation's significant expertise in operating FBOs and proven commitment to quality and relationships," stated Mark Sullivan, President and owner of Skytrails.
"Mark and Kathy Sullivan have built an outstanding organization with a strong employee and customer base. We look forward to maintaining these relationships and continuing to invest significant time and resources at the Airport and in the Van Nuys community," stated Alec Maguire, president of Maguire Aviation.
The acquisition includes 52,000 square feet of existing hangar and office space, as well as additional entitlements. "The purchase of Skytrails will allow us to integrate our current properties and provide the level of service only an integrated facility can provide to the customers of Van Nuys Airport and greater Los Angeles," commented Mr. Maguire. Maguire Aviation plans to invest over $250 million in leasehold acquisitions and infrastructure improvements over the next three years as it develops facilities that will help modernize Van Nuys Airport. The facilities are expected to be among the highest quality aviation facilities in the U.S.
The sale of Skytrails to Maguire Aviation is subject to customary closing conditions. Both Skytrails and Maguire Aviation will continue to operate independently until the transaction is completed.
About Skytrails Aviation
Skytrails Aviation is an FBO offering aircraft fuel-handling and ground handling, catering, leasing of aircraft hangar and tie-down space, aircraft charter bookings, aircraft sales, and limited maintenance. Its facilities include three locations at the Van Nuys Airport, encompassing over 27 acres, and are home to over 150 aircraft from modern business jets to recreational aircraft.
About Maguire Aviation
Maguire Aviation is an FBO operator at Van Nuys Airport, the busiest general aviation airport in the world. Services provided by Maguire Aviation include leasing of hangar and office space, line service, including fueling, ground handling and maintenance, catering and travel coordination, and aircraft management and sales.
