BBA Aviation climbs high after snapping up US airport assets

 
Michael Bow
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FTSE 250 listed BBA Aviation yesterday struck a deal to acquire a passenger terminal, three hangars and a fuel farm based at an airport in the US state of New Hampshire.

BBA will pay $16.5m to take on the assets – which are associated with Wiggins Airways based at Manchester-Boston Regional Airport – through is subsidiary Signature Flight Support (Signature), boosting the group’s presence in the Boston area.

The assets, known in the industry as fixed base operators (FBO), have been sold by their former owner US firm Ameriflight. The deal is expected to close by the year end.

“Wiggins Airways is an attractively located FBO and further enhances the Signature network with the addition of a new location in this key business and general aviation region,” BBA chief executive Simon Pryce said.

“This acquisition allows Signature to extend its industry leading FBO services to Wiggins Airways’ existing customers and to introduce them to the benefits of the Signature network.”

Shares in BBA Aviation closed up 1.92 per cent last night, rising 6.2p a share.