Ocean Sky buys major Stake of 3 Alpha
 

UK business aviation services company Ocean Sky has taken a majority stake in German aircraft management and charter company Triple Alpha for an undisclosed sum.
The deal opens the lucrative German business aircraft market to Ocean Sky and brings to 32 the London-based company's managed fleet. Ocean Sky Aviation chief executive Kurosh Tehranchian says: "The deal will mean a company fleet unrivalled in its range: from the Citation Mustang very light jet through to the Airbus A319 Corporate Jetliner."
Ocean Sky says it will immediately inject €1.8 million ($2.56 million) into the business as working capital to strengthen its finances. Tehranchian says further acquisitions will follow. "The landscape for aircraft operators in Europe is going to change fundamentally, with consolidations and acquisitions creating a superleague of major players coming out of this recession. Ocean Sky will be one of them," he adds.
Triple Alpha co-founder Hans Pfeiffer agrees. "What we have done is recognise the changes ahead. It's a win-win for us to be with Ocean Sky," he says.
Erik Scheidt, company co-founder and joint general manager, says: "We are excited to be able to expand our operation even more rapidly and access areas where we do not already have a footprint. We are very strong in terms of operations. Ocean Sky is very active in its fixed-base operations and maintenance. This is what we need and could not have achieved on our own."
Triple Alpha will continue to trade under its current company name as part of the Ocean Sky Group. Both co-founders will remain with the company.

At last some good news from our industry, will make both brands very strong. Will be interesting to see if there is any displacement of Triple Alphas fleet to shake up the British operators

Good luck to both parties

I wonder what will happen to the Zurich sales office/staff ?

That Ocean Sky just keeps pulling rabbits out of the hat! Good luck to them on the next new adventure!

This could say a lot about the state of 3A or am I wrong?

Is that an advertising for Ocean Sky... !!

Is this the same Ocean Sky that have had 2 Challengers and a Global reposessed in the last 6 months?!

If I fall your going down with me :E

Not sure about repossessed. I heard they were offered better finance on new aircraft which would tie in with the surplus of aircraft and available money over the last year or so.

Flintstone is spot on - it was nothing more sinister than that :ok:

No idea - but it's not a repo to the best of my knowledge.

Who knows? Arse covering maybe?

Far easier to tell the market that than "We were too pig-headed to renegotiate the finance so lost a standing customer". Or maybe Bombardier were so desperate to shift abandoned stock they offered an unmatchable deal?

:confused:

G-INFO say all 3 are owned by TAG, JetNet says they're being advertised for sale by the bank. If they were offered better finance by the bank and if availability is as good as it is then why haven't they got said aircraft...or why didn't they just refinance the aircraft that they had?

The problem being that they weren't offered better finance by the original bank who refused to renegotiate so they (Ocean Sky) took advantage of a clause in their contract and handed them back. They then replaced the Challengers (I believe) with new aircraft.

Pay attention at the back ;)

Again - all spot on information.

analysis?
 

The bank is advertising the 604 the 605 and the Global 5000 for sale.

Banks dont like owning aircraft.....they have leases strutured to avoid risk.

Banks have good lawyers who ensure the lease is always in their favour.

Banks dont usually end up owning an aircraft and getting burned.

Assumption? - Oceansky must have got burned on this hand back deal.

I cant really believe oceansky just handed those 3 aircraft back and walked away with NO penalty?

If you tried doing that with your motor vehicle or your house im sure the finance company would be rubbing their hands with glee....
Im no financial whizzo but im sure handing back 3 jets to a bank who doesnt want them, in a dead market, has to HURT financially.....

Fact - Oceansky used to operate 3 challengers, now they just have 1. The Global 5000 having effectively been replaced by the G550 I would imagine.

So whatever way you look at it they have shrunk their Challenger fleet back to 1 unit. And my guess is the bank came out better than they did on that.....
Triple Alpha purchase? maybe they like the German CAA more than the UK CAA ;-) will we see the G reg oceansky aircraft adoption a D- in due course? who knows.....

Let's Summarize
 

Ocean Sky fleet status?

-G-OCSA s/n 9241 G5000 withdrawn and for sale
-OE-GJF CJ3 withdrawn late 2008
-formerly G-OCSC 604 s/n 5505 was sold last year on is flying as N664D
-formerly G-OCSD 604 s/n 5591 for sale as G-CGFD (TAG UK)
-formerly G-OCSF 605 s/n 5733 for sale as G-CGFF (TAG UK)

Actual fleet is
-G-EXRS s/n 9274 GLEX XRS (registered this summer)
-G-IGWT s/n 8078 CL850 (registered this summer)
-G-OCSE s/n 5710 CL605
-G-SADC s/n 4027 G450 (arrived this summer from Elit'Avia)
-G-EGNS sn/ 5167 G550, listed for sale
-A 7X and a Lear 60XR may join soon and, not sure about it, G-FNES, s/n 159 F900EX EASy, could be as well Ocean Sky's.

What did I miss?

Are all the aircraft that you've listed owned by Ocean Sky or managed by them and maybe the owners have put them up for sale ?

For sure the Gulfstreams are managed, and I don't know of any which is owned by Ocean Sky. That would be a dangerous business model.

CJ3 OE-GJF is still with them albeit now as G-TSJF.

OLY1B

I believe GOSCH CL604 is now with them too

ML