Gestair

The story begins in Madrid in 1977, when Gestair was founded, pioneering the corporate aviation industry in Spain. The company specialized in providing private jets for short-term leases, initially from key airports in Spain, and gradually built a comprehensive aeronautical services group. Over the decades, Gestair expanded its services to include aircraft management, maintenance, and handling, establishing itself as a leader in the Spanish market. A significant chapter in Gestair's journey began in 2014 when the private equity firm Nazca Capital acquired 100% of the company. This acquisition cleared the company's debt and set it on a new strategic growth path, focusing on an aircraft management business model without owning the aircraft itself. Under Nazca's ownership, Gestair professionalized its management and expanded its fleet, solidifying its leadership position. By 2019, the company had grown significantly, managing a fleet of 35 aircraft and generating revenues close to €150 million. The playbook of private equity ownership continued. In October 2019, GPF Capital acquired Gestair from Nazca, aiming to further develop the brand in Europe and Latin America and to expand its maintenance capacity. Most recently, in May 2025, Azuaga Financial Corporation and Hyperion Fund acquired the company from GPF. This latest acquisition marks a new phase for Gestair, focused on strengthening its European leadership and expanding its operational capabilities.