2nd Feb 2015 09:08
LONDON (Alliance News) - Aviation services company Gama Aviation PLC on Monday said it has sealed a joint venture agreement with Hutchison Whampoa (China) Ltd.
Under the deal, the pair will focus on management, charter, maintenance and repair services in China, Hong Kong and the wider Asia region.
Initial operations are due to start in the second quarter of 2015, with two additional aircraft in Hong Kong to increase Gama's managed fleet to 146 aircraft.
"This venture allows us to significantly build on our existing investment and infrastructure in the region and provides us with an excellent platform for revenue growth," said Gama Chief Executive Officer Marwan Khalek.
In addition to the deal, Gama said Monday it has appointed Kevin Godley as chief financial officer. He moves up from his role as the company's finance controller.
Shares in Gama were up 3.7% to 304.90 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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