Solairus Aviation (TWY, Novato) will transition aircraft currently operating under the Part 135 certificate of Clay Lacy Aviation (CLY, Van Nuys) onto Solairus' certificate over a six-month period following completion of the acquisition of Clay Lacy's aircraft management and charter divisions, CEO Dan Drohan told Private Jet Card Comparisons.
“Each owner whose aircraft is managed by Clay Lacy has to sign an agreement to come to Solairus. The plan is a certificate migration over what we're calling the transition period, which is about six months,” he said.
Clay Lacy's Part 135-certified fleet comprises 51 aircraft, compared with approximately 140 aircraft under management. Solairus' Part 135 certificate covers 144 aircraft, while the company manages around 360 aircraft overall.
Drohan does not expect any changes in how Solairus handles charter activity. “We're just going to have more of it. We have around 150 aircraft on our certificate today, with perhaps 60 actively flying charter. We're going to add another 30 or 40. So we could have around 100 aircraft actively engaged in charter, with additional ones on the certificate that aren't as busy.”
Focus on aircraft management
Even with a combined fleet of approximately 500 aircraft, Solairus does not plan to expand into adjacent businesses such as MRO or FBOs. “The majority of our fleet are newer aircraft. They're not going to an independent MRO, they're going to the OEM. I would far rather have great relationships with the OEMs and strong, powerful MROs.”
A similar approach applies to FBOs, where Solairus prefers partnerships with major chains rather than acquiring hangar facilities.
Earning and retaining clients
He acknowledged that competitors are already approaching Clay Lacy clients, leaving Solairus with the task of earning their confidence during the transition. To minimise disruption, the two companies have established dedicated teams to oversee the transfer of employees, clients, systems, data and other resources.
At the same time, Drohan stressed the importance of retaining existing Solairus clients and preventing any losses during the integration. “I certainly hope we don't have any slippage on our side. That falls on our shoulders to make this totally invisible to those clients.”
Industry consolidation, further deals
Drohan first met Clay Lacy owner Brian Kirkdoffer two years ago, and the deal has been in development for over a year. As Kirkdoffer increasingly focused on real estate and FBOs, Drohan remained centred on aircraft management, creating an opening for a potential transaction.
He sees the transaction as a potential catalyst for further consolidation across the business aviation industry. Solairus has been owned by private equity firm Ancient since 2022, and successful deals could attract more private equity interest. “I don't know what those deals are sitting here today, but there will be more.”
