Era Group will sell Alaska FBO to Landmark Aviation

Landmark Aviation

Era Group Inc. has reached an agreement to sell its fixed based operation (FBO) business at Ted Stevens Anchorage International Airport in Alaska to Landmark Aviation.

Under the terms of a purchase and sale agreement, Piedmont Hawthorne Aviation, part of the Landmark Aviation network, will acquire Era Group’s subsidiary, Era FBO, through a 100 per cent equity purchase. The transaction, which is expected to close during the second quarter of 2015, is subject to customary closing conditions.

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Chris Bradshaw, CEO of Era Group says: “We are pleased to have reached a deal with Landmark to sell the FBO in Alaska. Landmark presented a compelling offer, and we believe Era’s shareholders will benefit from alternative deployment of this capital.”

“On behalf of Era, I would like to thank everyone at the FBO for their dedication and support throughout the years. Landmark is a leading operator of fixed based operations, and we believe our customers and employees will continue to thrive under their stewardship,” Bradshaw adds.