CAO buys Navires Aviation for $10.9m

It has a stake in Dutch firm Aircraft Fuel Supply B.V. and a distributor in Schiphol.

China Aviation Oil (CAO) completed the acquisition of Navires Aviation Limited (NAL), marking its entry into the Northwestern Europe region to expand its supply and trading business at major European airports.

According to an announcement, the company was bought for $10.9m (US$8m) from Castleton Commodities Merchant Trading L.P. (CCMT), a wholly owned subsidiary of Castleton Commodities International LLC (CCI).

NAL holds an interest in Aircraft Fuel Supply B.V. (AFS), a company incorporated in the Netherlands, and a concession from the Schiphol Airport Authority to manage the distribution of jet fuel on behalf of its shareholders to airlines at Schiphol airport.

“NAL has an established comprehensive jet fuel supply system, with critical supply chain contracts in Europe, that enables it to facilitate the sales of jet fuel to local and international airlines at Schiphol, Frankfurt, Brussels and Stuttgart airports,” the company said.

Moreover, it said it will be able to grow its operational capabilities, boost its jet fuel supply and trading portfolio, and strengthen its foothold in the European aviation market.