July 21, 2008
Jet Source Acquiring Aviation Firm
By Wiedemann, Liz
JetSource, a Carlsbad-based corporate jet charter company, said July 1 it is acquiring Western Flight, a another fixed-base charter operator, for an undisclosed amount.Both are based at the McClellan-Palomar Airport and provide more than 160,000-square-feet of combined hangar space.
Frank Milian, president and chief operating officer of Jet Source and Western Flight, which will retain its name, said the acquisition will provide better facilities at the airport and more opportunity to expand his business.
"Western Flight has arguably the best location at the airport, right by the entrance and closest to the customs facility," Milian said.
While Milian said the corporate aviation industry is feeling the burn of a sluggish economy - with jet fuel prices topping $7 per gallon - he remains optimistic.
"The one thing this industry provides is convenience," he said. "It's more expensive, but with commercial airlines getting worse and worse, more people are looking to us for reliable and convenient transportation."
Jet Source charges $1,500 per hour and up for its smallest aircraft and $5,500 per hour for its largest.
Milian said that he's confident the company's addition of Western Flight will benefit customers. It plans to add another 40,000 square feet of hangar space in the near future, he says.
Copyright San Diego Business Journal Jul 7, 2008
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