South African business aviation company CFS Aviation Group is now 50-50 jointly owned by Parrot Aviation and the company's group CEO and co-founder Justin Reeves holding the other half.
Parrot Aviation — the holding company of Federal Airlines (FedAir) — acquired the stake held by Comair General Aviation Holdings, while Reeves acquired the remaining shares from other minority shareholders.
The transaction marks the end of the company's 12-year partnership with Comair, with CFS stating this “ushers in a new chapter” for the company.
“This marks an exciting new chapter in the CFS journey," said Reeves. “The new structure reinforces our long-term vision, strengthens our shareholder base, and preserves our operational independence.”
CFS and FedAir now share a common shareholder in Parrot Aviation, but CFS said they will remain “entirely independent” in brand operations and leadership.
CFS Aviation Group offers services including aircraft charter, management, sales, and FBO operations. The company will continue to operate under its own air operator certificate.