Wednesday, 9 May 2018

S-2968-1 JML International Aircraft Leasing Company, Charter and Scheduled Airline (Continental Europe)



Business Description:  The Company’s main business is leasing aircraft to airlines.  Their leases include wet leases; dry leases; and Aircraft, Crew, Maintenance and Insurance (ACMI) leases.  The Company also owns and operates a Scheduled Airline and provides Maintenance and Repair Services (MRO) certified for B757-200 Series, B777-200 Series and B767-300 Series aircraft and engines.  The Company uses its CJ3 for executive transportation.  The Company has eight aircraft in its fleet:  one CJ3; one Boeing 737; five Boeing 767s; and one Boeing 777.

Distribution:   Much of the business is relational.  The company has provided leases to major airlines such as AIRFRANCE, SAS, DHL, British Airways Air Canada and numerous secondary airlines for twenty-five years.  In addition, the Company relies on Brokers and Tourism operators for charter referrals
Strategic Growth:  Boeing’s projections for 2017-2036 predict airline fleet growth will increase 3.5% annually and passenger traffic will increase 4.7% annually.  While crew leasing is common in many industries, it is a small segment in the airline industry.  ACMI, which includes crew leasing, is a growing segment and the company projects that the ACMI lease sector will grow by 5% annually. These leases are short term, high yield, as seen in the financial information below.  ACMI leases provide airlines flexibility to manage growth; work around fleet maintenance issues; and adjust to economic downturns.  The strength in global economies should have a favorable impact on the Company’s charter business.

Operational Strengths:  The Company has a proven management team with an average of fifteen years of experience. They operate a modern Boeing fleet.  The company’s balance sheet shows that approximately 25% of the assets are represented by Cash and Cash Equivalents.  In 2016, the company had €28.8MM in cash.

The Transaction:  The founder of the Company, who is the sole shareholder with his wife, is looking for a cash sale of the Company.  There are no family members interested in running the Company. 


Financial Summary ($)

2017
2016
2015
2014

Revenue
 110.4 M
141.0 M
 117.8 M
108.2 M

Net Profit
16.3 M
12.1 M
 8.8 M
$6.2 M

EBITDA
22.0 M
26.9 M
 20.7 M
23.6 M


Other Highlights
Location
Financials
Management Team in Place
Years in Business
SIC Classification
Continental Europe
Audited
Yes
1993-25 Yrs.
478909; 451201; 458104; 452298
     
Direct All Inquiries to:

Gottesman Company
Refer to:  S-2968-1 JML
Tel: 212-330-8010     Fax: 646-434-4557
                                      E-mail: office@gottesman-company.com