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Friday,  July 19, 2024 6:04 PM 

Pivot Airlines sold to new consortium, begins using YKF as operations base

  • Air
  •   06-12-2024  10:05 am
  •   Pax Global Media

Pivot Airlines sold to new consortium, begins using YKF as operations base
Pivot Airlines has been acquired by Pivot Holding Company Canada Inc. (Pivot Airlines)
Pax Global Media

Pivot Airlines has been acquired by Pivot Holding Company Canada Inc. from Binder Capital Corporation, the holding firm announced on Monday (June 10).

The Canadian Transportation Agency (CTA) authorized the transfer of 100 per cent of Pivot shares from Binder Capital to Pivot Holding Company Canada, a new ownership consortium.

Canadian investors, including existing Pivot management, will hold 75.1 per cent of the carrier, and Smart Green Aviation Group, a Boston-based aviation company, will have the remaining 24.9 per cent, according to a press release.

“Binder Capital Corporation is an aviation-focused capital firm skilled at identifying industry niches and supporting companies poised for rapid growth. We are pleased to have contributed to Pivot’s growth story and to have helped the company through its continued expansion in the regional airline sector,” said John Binder, founder of Binder Capital Corporation, in a statement. 

Pivot to expand aircraft fleet 

With new ownership, Pivot’s management team has been expanded by adding industry veterans to spearhead the brand’s growth.

Pivot’s existing Dash 8-100 and CRJ200 ACMI and charter operations will scale up with the addition of three aircraft provided by Alberta Aviation Capital Corporation (AAC) of Calgary, Alberta.

Pivot is also in the process of adding the Dash 8-400 aircraft to its Transport Canada certificate, which will position the company for a return to the scheduled airline sector.

“We are committed to continuing the excellent service our customers have come to expect with our core business while also positioning ourselves for a return to the scheduled airline sector,” said Eric Edmondson, CEO of Pivot Airlines, in a statement.

Pivot lands at Waterloo International 

Pivot recently announced the establishment of a new maintenance and charter crew base in Kitchener, Ontario with Fliteline Services, scheduled to open on June 1, 2024.

“We have been interested in moving our maintenance base and commencing scheduled airline services from The Region of Waterloo International Airport (YKF) for some time now and this transaction provides us with the first opportunity to do so,” said Edmondson.

“Our market research has indicated a significant unmet need for reliable scheduled airline services from Waterloo Region, and although YKF is not the only airport we intend to operate from in Southern Ontario, the availability of experienced local maintenance personnel ready to join Pivot’s team and hangar facilities provided through Fliteline have made this an easy decision for us.”

Since 2020, Pivot has completed approximately 770 essential service missions, including 70 community evacuations due to floods or forest fires and 120 missions in support of various federal and provincial law enforcement and related agencies, including judiciary transport, tactical team deployments, and missions for the Department of Defense and in support of the Canadian Coast Guard.

“We will continue to enhance our essential and emergency service offerings, further supporting the needs of Canadians, including those in remote and indigenous communities,” said Edmondson.

The Dominican drug bust of 2022

Pivot Airlines was notably involved in a high-profile incident in 2022 after five of its crew members from Canada were wrongly detained in an international drug bust in the Dominican Republic.

A Canadian airline pilot was detained in the Dominican Republic after he and his crew discovered more than 200 kilos of cocaine on board a flight to Toronto.

The pilot involved, Rob DiVenanzo, is seeking $16 million from the federal government and his former employer, Pivot Airlines, reports CTV News.

In a statement of claim, filed April 5 in Ontario Superior court, DiVenanzo noted that he has continued to "suffer significant" physical, emotional and psychological harm ever since the incident.

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