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QinetiQ To Buy German Airborne Training Services Provider For EUR 70 Mln

QinetiQ Group plc (QQ.L), a defense, security and aerospace company, announced Tuesday that it has entered into an agreement to acquire German airborne training services provider E.I.S. Aircraft Operations for 70 million euros on a cash-free, debt-free basis.

Aircraft Operations is currently part of E.I.S. Aircraft Group.

QinetiQ said the acquisition of the German airborne training services provider accelerates international growth.

Aircraft Operations delivers threat representation and operational readiness for military customers. It generated 20.1 million euros revenue and 5.4 million euros EBITDA in the year 2017.

Aircraft Operations delivers airborne training services using a highly cost-effective fleet of 14 leased Pilatus PC-9 and PC-12 aircraft, flown by a team of 20 pilots.

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