Saker Aviation Services, Inc. Announces Stock Purchase Of Aircraft Services, Inc.

Saker Aviation Services, Inc. (SKAS), an aviation services company specializing in ground-based services to the general aviation marketplace, announced that its wholly-owned subsidiary, FBO Air Garden City, Inc. d/b/a Saker Aviation Services, has acquired 100% of the stock of Aircraft Services, Inc., (“Aircraft Services”) an aircraft maintenance services firm located in Garden City, Kansas.

“We are excited to welcome Aircraft Services, its owners, Gary and Kim Keller, and their skilled staff into the Saker Aviation family,” stated Ron Ricciardi, Saker’s President. “Aircraft Services has provided outstanding aircraft maintenance services to its customers at and around the Garden City Regional Airport (“GCK”) for the over 20 years. We are also very happy that Gary has agreed to continue in his role, which will ensure a seamless transition. The acquisition also provides a perfect complement to our FBO operations at GCK and enables us to more fully service both based and transient aircraft.”

Under the terms of the transaction, Saker made a $150,000 cash payment at closing and will make installment payments totaling an additional $150,000 over the next two years. The closing cash payment for the transaction was funded with internal resources.