Charles Alcock is managing editor of the AIN Media Group, having rejoined the company in 2019. He has been an aviation journalist since 1986, and previously worked for AIN from 1990 to 2017, most recently as editor-in-chief. His main focus is on covering new aviation technology and business models, as well as international news.
Having been raised in the London area, Alcock studied at the University of Manchester in the UK and earned an honors degree in Politics and Modern History. He speaks English and French, and some German.

Managing Editor

Charles Alcock

Gama Aviation expects to delist from the London Stock Exchange on May 30, with shareholders to be offered £0.95 per ordinary share under revised terms announced on Monday. Shares on the AIM sub-market closed today at £0.93, after the UK-based business aviation services group said it will seek shareholder approval to resume trading as a private company at its annual general meeting on May 15.
According to Gama, the tender offer will result in £32.6 million (nearly $41 million) being returned to shareholders—almost double the amount proposed in February. At that time, the company said it intended to return some of the funds raised by the sale of U.S.-based maintenance division <a href="https://www.ainonline.com/aviation-news/business-aviation/2023-10-18/gama-aviation-selling-jet-east-west-star-131m">Jet East</a> to West Star Aviation, which yielded net proceeds of around $100 million.
In its statement on Monday, Gama said shareholders representing an aggregate 79.6% of the current issue share capital have given irrevocable undertakings to support the general meeting motion to return the company to private ownership. Company founder and CEO Marwan Khalek, who holds 22.1% of the share capital, has agreed not to tender any of his equity through the delisting, as has investment group Bermesico Concert Party with a 22.4% holding.
According to Gama, first-quarter revenues were “marginally below management expectations” due to factors such as rising personnel costs and supply-chain issues impacting the availability of aircraft and parts. The board indicated that it is now prioritizing long-term growth through investments and acquisitions in its business aviation, special missions, and technology/outsourcing business units.
In the business aviation sector, the company’s April 29 statement noted that “aircraft management and charter operate in a competitive market with slim margins [which] has exposure to client credit risk.” Acknowledging losses in this area, as well as in maintenance, repair, and overhaul activities, the board said its strategy will now focus on organic and inorganic growth to leverage a high fixed-cost base. The statement added that Gama’s FBOs in Sharjah, Jersey, and Glasgow have generated strong margins and will receive further capital expenditure.

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