17/05/2017 STATEMENT FROM TAG AVIATION EUROPE

STATEMENT FROM TAG AVIATION EUROPE

TAG Aviation Europe has made the decision to exit the Spanish market as part of a broader move to consolidate its aircraft operations under a limited number of strategic AOC’s (Air Operator Certificate) which provide greater advantages to its customers. While TAG has undertaken business in Spain for many years, the downturn in the Spanish economy, combined with the inflexibility of the regulatory environment, accelerated the company’s decision to terminate activities in the country and deploy its resources in growing markets elsewhere.

Mr. Daniel Christe, CEO of TAG Aviation Europe, remarked that the decision to leave Spain was a very difficult one, but added that the limited business aviation market in Spain no longer justified the cost to support a stand-alone AOC, especially when more favourable options are available within the TAG organisation. Mr Christe added that existing clients would be offered the option of enrolling their aircraft on another appropriate TAG Europe AOC and that the company would use its best efforts to relocate TAG Spain employees’ positions within TAG’s other European entities.