Elevate Holdings bought the US company Keystone Aviation for an undisclosed amount, with the aim of expanding its aircraft management services.
Keystone Aviation offers certified aircraft maintenance as well as aircraft charter and management services.
This operation combines the large international clientele of the two companies.
Following the takeover, Elevate Holdings will focus on expanding its managed fleet, with the goal of establishing itself as the fifteenth largest aircraft management company in the United States.
Elevate Holdings will also strengthen its service category by acquiring the Keystone Aviation maintenance and repair organization as part of this agreement.
Elevate Holdings CEO Greg Raiff said, “Elevate Holdings and Keystone Aviation are both focused on providing exceptional service and critical solutions to our customers.
“We believe the business aviation industry needs a supplier large enough to deliver large-scale benefits to its customers without sacrificing the personal touch so essential in a high-end service business. Together, our teams will continue to deliver tactile experiences with more business aviation options than ever before. “
Content from our partners
After integration, Keystone Aviation staff will continue to work with the Elevate Holdings team.
Meanwhile, Keystone Aviation’s divestiture company TAC Air will remain involved as a strategic partner.
As part of the deal, any aircraft under the management of Elevate Holdings will be granted “privileged access” to TAC Air’s 16 fixed base operator (FBO) sites in the country.
Additionally, Keystone Aviation – Salt Lake City (SLC) will operate from a new customer access terminal at Salt Lake City International Airport.
It will also operate from satellite centers in Scottsdale, Arizona (KSDL) and Provo, Utah (KPVU).
Established in 2003, Elevate Holdings provides air transportation, travel consulting and aircraft management services.
As part of related developments, AerCap Holdings completed the purchase of GE Capital Aviation Services (GECAS) from General Electric last November.