Titan goes private

Britain’s sole remaining large aircraft exclusive charter operator, Titan Airways, has been taken ‘private’.  The Stansted-based specialised VIP operator is also celebrating 25 years during 2013.

Titan is now a wholly independent company having recently completed a Management Buyout (MBO) from 3i.  3i has been a minority shareholder and private equity backer for the past 20 years.  The business has been acquired outright by Titan’s Managing Director and founder, Gene Willson, who remains steadfastly committed to further expanding the airline as an industry leader in the VIP, corporate travel, sub-charter and aircraft leasing sectors.

Established in 1998, Titan Airways has consistently been a solid and reliable performer in a sector that has been decimated in recent years.  In the last 12 years, despite the huge challenges seen in commercial aviation, Titan Airways profits have grown from £1.8m in 2004 to £7.6m in 2012.

When the company was founded 25 years ago it was a two-man operation with a single aircraft, a Cessna 404 Titan.  Today the company has grown into one of the UK’s most successful charter carriers with 250 staff and a versatile fleet of 12 aircraft, ranging from a six-seat Citation CJ2+ to a 265-seat Boeing 767-300. www.titan-airways.com

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