Bill Gates ‘ Weakness
Unfortunately the flight deals above won’t carry over here.
Global Infrastructure Partners, the owner of Edinburgh airport, has agreed to acquire private jet services company Signature Aviation for $4.6 billion.
While Signature has signaled it is open to competing offers, GIP has so-far beat out high-flying competition including Blackstone/ Bill Gates’ investment fund and Carlyle.
Sign On The Dotted Line: Signature Aviation doesn’t own planes. Instead, it provides refuelling and maintenance services to operators of private jets – it’s single biggest customer is Warren Buffett’s NetJets.
Mr Gates, who has described private jets as his one guilty pleasure in life, first bought shares in the business in 2009 and topped up his investment twice last year as the share price fell on COVID concerns.