Geneva-based TAG Aviation Holding has sold off its aircraft charter/management divisions, TAG Aviation Asia and TAG Aviation SA (in which it held a 51% stake), to its Asian joint venture partner Young Brothers and an unidentified private investor, completing its departure from business aviation.
This comes after a long series of sales of which TAG Aviation has been the initiator. In February of last year, the company also sold of its European aircraft maintenance business to Dassault and in September divested Farnborough Airport (in which takes place the world’s most important airshow). In 2016, it was the distributor of all Bombardier aircraft for the Middle East, before Bombardier took the business back (for more info click on: https://www.bombardier.com/en/media/newsList/details.bba-20160113-bombardier-and-tag-aeronautics-reach-agreement-to-e.bombardiercom.html ).
This is definitely an interesting part of the aviation industry, because although the coronavirus mainly hit commercial airlines, it does seem to also have hit business aviation service providers, which I would have thought impossible beforehand. TAG had been working with Bomardier for nearly 40 years, so why the sudden change of plans made by Bombardier and why the slow closure of TAG Aviation’s business sector? What do you think? Was it just the fact that TAG was no longer needed or some deeper financial dilemma that was brewing in the company’s hearth? If you wish to comment, just write a word or two below. 21st of August 2020.
Aeronews24 