Cedar Aviation buys Aircraft Services Bermuda

Bermuda Aviation Services Limited said its subsidiary, Aircraft Services Bermuda, was sold on March 31, 2014

Aircraft Services Bermuda Ltd. was purchased by Cedar Aviation, an emerging entity in Bermuda’s aviation sector, has purchased ASB for an undisclosed amount.

Ian Cook, BAS president and CEO, said in a press release: “As BAS has developed over the years we have moved further away from our aviation roots to become a full-fledged service company. When we received the unsolicited offer from Cedar Aviation, it just seemed to make sense. The capital injection from the sale will facilitate further development of the Group along its new direction.”

Michael Darling, BAS chairman, said: “BAS was born out of aviation over 60 years ago, after all it has been at the heart of our name.While we appreciate that change is inevitable, it is a somewhat sad occasion to say farewell to the subsidiary that gave rise to where and what we are today. I wish nothing but the best to Cedar Aviation and I hope that ASB brings them the sort of success that we enjoyed with the company.”