Signature Flight Support grows BBA’s revenues
BBA Aviation, the owner of Signature Flight Support, increased its revenues by 3 per cent in 2014, as its operating profit grew by 1 per cent.
Signature Flight Support added eight FBOs through the year, which contributed heavily to an 8 per cent revenue growth for BBA Aviation’s flight support division.
“We are seeing a bifurcation within US business and general aviation flying,” said Simon Pryce, CEO of BBA Aviation. “We are seeing very strong growth in large cabin, new mid cabin and small cabin flying, but in older mid cabin flying, the market still continues to decline. That’s been a bit of a headwind for our engine repair business, because the repair of those engines is a big piece of their market.”
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Looking at the year ahead, Pryce expects further growth for Signature Flight Support, as the business jet market continues its slow recovery.
“Although January and February are always challenging months to predict, it looks like that recovery is continuing as we speak,” said Pryce. “And Signature will benefit immediately from that.”
Last year, Signature Flight Support acquired new FBOs in the US, UK, Canada and the Caribbean, as well as extended the leases on a number of FBOs that it already owns.
Signature is also building a private aviation terminal for the founders of Google at Mineta San Jose International Airport in California, which it will operate in partnership with Blue City Holdings. The facility is scheduled to be complete by the end of 2015.