PEGASUS ELITE AVIATION ACQUIRED BY PRIMA AIR GROUP

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Jan 23, 2023, 21:38 ET

This acquisition expands the charter fleet with high-speed, long-range, new Gulfstream G650ER

VAN NUYS, Calif., Jan. 23, 2023 /PRNewswire/ -- Pegasus Elite Aviation, Inc., a well-recognized industry leader in the private jet realm operating and managing a large fleet of Gulfstreams with outreach around the globe, was acquired by Prima Air Group in late 2022.

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Prima Air Group's acquisition of Pegasus Elite Aviation offers the private jet industry a diverse fleet of aircrafts ranging from the Turboprop aircraft all the way up to the well-known, ultra-long-range Gulfstream G650ER. Led by an executive team holding a combined century of corporate aviation experience, Prima Air Group 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 acquisition of Pegasus Elite Aviation is one of the many business ventures Prima Air Group has outlined for the long-term growth of the company. Dr. Charles Huang established Prima Air Group in 2021 after becoming the majority stakeholder of Prima Air, Inc. Through Huang's notable and philanthropic goals, he has donated more than $100 million USD to his alma maters in the United Kingdom and China, as well as several industry leading hospitals in the United States.

Prima Air, Inc. was founded by Lina Tullberg in 2019 with a successful venture interest and partnership with Pasaca Capital, LLC, which is solely owned by Dr. Charles Huang. The Chinese-American entrepreneur stated, "We will continue to support US-based businesses with the rapid expansion of our jet fleet." Huang's statement about Prima Air Group's expansion compliments the ever-increasing demand for air travel and access to the global market.

Lina Tullberg, Partner and CEO of Prima Air Group, adds that, "With the combination of elite management, high-level operational experiences and efficiencies, along with the ever-expanding fleet of managed and owned aircrafts by Pegasus, Prima Air's future vision and business models will establish the company as a strong player and industry leader."

Tim Prero, CEO of Pegasus Elite Aviation, said, "With the leadership of Dr. Huang and Lina Tullberg, Pegasus Elite Aviation will excel with a substantially enlarged and improved aircraft fleet." To further that goal, Pegasus is expanding its fleet by adding a brand-new Gulfstream 650ER.

Gulfstream 650ER holds the current 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. Prero further explained that, "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."

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.

For more information about Prima Air Group, please visit www.flyprimaair.com. For any additional inquiries, please contact 626-889-5818 or [email protected].

SOURCE Prima Air