Premier Air Charter is on the brink of finalizing a reverse merger with Altair International Corporation, a metals and mining investment firm, as detailed in a recent update to shareholders. This strategic move is set to see Altair acquiring up to 270 million shares, representing an 85% stake in Premier Air Charter. The merger, first agreed upon by Altair’s shareholders in February, is approaching completion with just a few closing items left to resolve.
Sandra DiCicco, CEO of Premier, expressed optimism about the merger’s potential to accelerate the company’s business model and growth. “This merger will enable us to leverage the public markets to further our goals and reward our shareholders. We are excited about the prospects of expanding our fleet and entering new markets through both acquisitions and organic growth,” said DiCicco.
Post-merger, the management team from Premier Air Charter will take the helm at Altair, though Altair’s existing liabilities will remain unchanged. Altair International Corporation, based in Arizona, is a diversified holding company engaged in acquiring stakes across various sectors, including energy, metals, minerals, and technology.
Premier Air Charters, an FAA Part 135 certified operator based in San Diego McClellan Palomar, is known for managing and, in most cases, owning the aircraft it operates. According to the ch-aviation fleets module, its fleet includes a Challenger 601, two Challenger 601-3Rs, a Citation Jet 1, a Citation Jet 2, and three Citation Xs, making it a significant player in the charter and aircraft management industry. This merger is anticipated to enhance Premier’s operational capabilities and market reach significantly.
