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Pegasus Elite Aviation acquired by Prima Air Group

Pegasus Elite Aviation was acquired by Prima Air Group in late 2022. Prima Air Group's acquisition of Pegasus Elite Aviation offers the private jet industry a diverse fleet of aircraft ranging from Turboprop aircraft up to the well-known, ultra-long-range Gulfstream G650ER. The group is led by an executive team with a combined century of corporate aviation experience. Prima Air has cultivated a strong support team of more than 100 full-time dedicated employees, including 49 full-time pilots, 25 full-time flight attendants, as well as ground support employees assisting to ensure a safe and efficient operation. The latest acquisition is one of the recent business ventures outlined in the long-term growth of the company. Prima Air Group was established by Dr. Charles Huang in 2021 after he became a majority stakeholder of Prima Air, Inc. Through his philanthropic goals he has donated over $100 million USD to his alma maters in the United Kingdom and China, as well as many industry-leading hospitals in the U.S. Lina Tullberg founded Prima Air, Inc in 2019, with venture interest and partnership with Pasaca Capital, LLC, owned by Huang. "We will continue to support US-based businesses with the rapid expansion of our jet fleet," he said. Huang's statement about Prima Air Group's expansion complements the ever-increasing demand for air travel and access to the global market. "With the combination of elite management, high-level operational experiences and efficiencies, along with the ever-expanding fleet of managed and owned aircraft by Pegasus, Prima Air's future vision and business models will establish the company as a strong player and industry leader," Tullberg said. "With the leadership of Dr. Huang and Lina Tullberg, Pegasus Elite Aviation will excel with a substantially enlarged and improved aircraft fleet," CEO of Pegasus Elite Aviation Tim Prero said. Pegasus has also expanded its fleet with a brand-new Gulfstream 650ER. This aircraft currently holds the record for the furthest and fastest private jet, with a max cruising speed of 0.925 Mach and a range of 7,500 nautical miles. "Adding this 2022 G650ER to our existing fleet enables us to better meet and even exceed our fast-growing and diverse customer base, both domestic and globally," Prerro said. Just in time for the celebration of the Lunar New Year, Pasaca Capital congratulates Gulfstream on another successful delivery experience, as well as Prima Air and Pegasus Elite Aviation on achieving another significant milestone.
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