Hangar8 snaps up JetClub

Aim-listed private jet operator Hangar8 has spent £3.7m plus 500,000 new shares to take over International JetClub, a high-end aircraft management firm. The acquisition boosts Hangar8’s fleet from 36 to 46. The firm also announced a £4.2m share placing to fund the acquisition, to be run by Seymour Pierce. Oxford-based Hangar8 this week defied a gloomy aviation sector with soaring earnings.