Kansas Firm Provides Aircraft Maintenance Services
NEW YORK, NY, October 7, 2016/PR Newswire/ â€“ Saker Aviation Services, Inc. (SKAS),Â an aviation services company specializing in ground-based services to the generalÂ aviation marketplace, today announced that its wholly-owned subsidiary, FBO Air GardenÂ City, Inc. d/b/a Saker Aviation Services, has acquired 100% of the stock of AircraftÂ Services, Inc., (â€œAircraft Servicesâ€) an aircraft maintenance services firm located inÂ Garden City, Kansas.
â€œWe are excited to welcome Aircraft Services, its owners, Gary and Kim Keller, and theirÂ skilled staff into the Saker Aviation family,â€ stated Ron Ricciardi, Sakerâ€™s President.Â â€œAircraft Services has provided outstanding aircraft maintenance services to its customersÂ at and around the Garden City Regional Airport (â€œGCKâ€) for the over 20 years. We areÂ also very happy that Gary has agreed to continue in his role, which will ensure a seamlessÂ transition. The acquisition also provides a perfect complement to our FBO operations atÂ GCK and enables us to more fully service both based and transient aircraft.â€
Under the terms of the transaction, Saker made a $150,000 cash payment at closing andÂ will make installment payments totaling an additional $150,000 over the next two years.Â The closing cash payment for the transaction was funded with internal resources.
About Saker Aviation Services, Inc.
Saker Aviation Services (www.SakerAviation.com), through our subsidiaries, operates inÂ the aviation services segment of the general aviation industry, in which we serve as theÂ operator of a heliport, a fixed base operation (â€œFBOâ€), as a provider of aircraftÂ maintenance services, and as a consultant for a seaplane base that we do not own. FBOsÂ provide ground-based services, such as fueling and aircraft storage for general aviation,Â commercial and military aircraft, and other miscellaneous services.
Saker Aviation Services, Inc.
Ronald J. Ricciardi
Note Regarding Forward-Looking Statement
This press release may contain “forward-looking statements” within the meaning ofÂ Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934,Â as amended (the â€œExchange Actâ€). Forward-looking statements can be identified by wordsÂ such as â€œanticipates,â€ â€œintends,â€ â€œplans,â€ â€œseeks,â€ â€œbelieves,â€ â€œestimates,â€ â€œexpectsâ€ andÂ similar references to future periods. These statements may include projections ofÂ revenue, provisions for doubtful accounts, income or loss, capital expenditures,Â repayment of debt, other financial items, statements regarding our plans and objectivesÂ for future operations, acquisitions, divestitures and other transactions, statements ofÂ future economic performance, statements of the assumptions underlying or relating toÂ any of the foregoing statements and statements other than statements of historical fact.
Forward-looking statements are based on the Companyâ€™s current expectations andÂ assumptions regarding its business, the economy and other future conditions. BecauseÂ forward-looking statements relate to the future, they are subject to inherent uncertainties,Â risks and changes in circumstances that are difficult to predict. The Companyâ€™s actualÂ results may differ materially from those contemplated by the forward-looking statements.Â The Company therefore cautions readers of this press release against relying on any ofÂ these forward-looking statements because they are neither statements of historical factÂ nor guarantees or assurances of future performance. Important factors that could causeÂ actual results to differ materially from those in the forward-looking statements include theÂ Companyâ€™s services and pricing, general economic conditions, its ability to raiseÂ additional capital, its ability to obtain the various approvals and permits for the acquisitionÂ and operation of FBOs and the other risk factors contained under Item 1A of theÂ Companyâ€™s Annual Report on Form 10-K for the year ended December 31, 2015.
Any forward-looking statement made in this press release speaks only as of the date onÂ which it is made. Factors or events that could cause the Companyâ€™s actual results to differÂ may emerge from time to time and it is not possible to predict all of them. The CompanyÂ undertakes no obligation to publicly update any forward-looking statement, whether as aÂ result of new information, future developments or otherwise, except asÂ may be requiredÂ by law.
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