Charter & Fractional
Gama Aviation To Delist from Stock Exchange by June
Shareholders have been made a revised share buyout offer
Gama Aviation Glasgow
Gama Aviation appears to be earning better returns on its FBO activities in locations like Glasgow in Scotland than from aircraft charter, management, and maintenance.

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 Jet East to West Star Aviation, which yielded net proceeds of around $100 million.

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