Cabair structure - Companies House data
]Historically, the main business of Cabair seems to have been conducted by companies owned by Cabair Holdings Ltd (CHL). In March 2009 (latest available accounts, the March 2010 accounts are overdue) the CHL Directors were Stephen Read, MC Henry, Shahriar Peyami , S Hinton-Lever and MJ Bradley Russell: the latter three were appointed in late 2008. CHL had a positive balance sheet of £5.2M but this consisted almost entirely of the cost of investments in its subsidiaries. Operating profit was £80k.
In May 2010 Flying Pictures Ltd bought 10% of CHL prior to a proposed merger which subsequently does not seem to have happened. Colin Prescot and James Hunter Smart, the CEO and Financial Director respectively of Flying Pictures Ltd were appointed as a Directors of CHL in May 2010 but resigned in October 2010.
In early 2011 three new investors were reported (by Flyer magazine) to be buying the majority of shares in CHL and a new CEO and CFO were appointed. Between December 2010 and April 2011 the entire shareholding of CHL was acquired by Cabair International Aviation Ltd, one of three companies formed immediately prior to this announcement (the others were Cabair (UK) Ltd and Cabair (Overseas) Ltd). No accounts are due to be published yet for these three companies.
Cabair International Aviation Ltd was put into administration in October 2011. The ownership of this company is not recorded as it is too recent to have submitted a return.
CHL subsidiaries are/were - Over The Pond Ltd (which seems to own 65% of the Cabair USA operations), Cabair Helicopters Ltd, World Aviation Holdings Ltd (see below) and Plane Talking Ltd. The latter appears to be an aircraft owning company, with £4.1M of fixed assets on its books at March 2010, but bank borrowings/loans totalled £3.1M and total liabilities exceeded assets by £1.1M, even when a claim of £951k for ‘defective engines’ is assumed to be an asset.
CHL also owns/owned Cabair Group Ltd (CGL). CGL in turn owns/owned Cabair Ltd, Cabair Maintenance Ltd, Cabair Flying Schools Ltd and Cabair College of Air Training Ltd. The latter three are seemingly the active trading companies in CGL. In June 2009 CGL sold European Pilot Training Academy Ltd to World Aviation Holdings Ltd (WAHL - see below) for £2 and sold 100,000 CGL deferred shares to WAHL for £100,000 (but CGL had not been paid by March 2010). CGL also owns about 10 dormant historic companies.
CHL owned World Aviation Holdings Ltd until it sold it in December 2008 for £160k, at a loss to CHL of £176k. Stephen Read, MC Henry, Shahriar Peyami and MJ Bradley Russell were shareholders and directors of WAHL at 31 March 2010. WAHL owns Wycombe Air Centre Ltd and bought 80% of Worldwide Aviation Ltd (aircraft maintenance company) for £280k during the year ended March 2009. As noted above, WAHL also acquired European Pilot Training Academy Ltd from CGL in June 2009. All the WAHL shares were acquired by Cabair International Aviation Ltd in December 2010.
Cabair Consultants Ltd and Cabair International Ltd are dormant companies.