Private aviation | After Montreal, Péladeau settles in Saint-Hubert

Pierre Karl Péladeau continues his foray into private aviation, we have learned The Press. Starlink Aviation, controlled by the businessman, is preparing to buy assets of charter flight specialist Chrono Aviation, at the heart of financial turbulence.

The transaction, which has not yet been finalized, notably provides for the acquisition of the private terminal – the Lux terminal – from Chrono Aviation at MET-Montreal Metropolitan Airport, in Saint-Hubert, on the South Shore. Starlink will also become a minority shareholder of this Quebec carrier.

“It is part of the group’s strategy to expand in our field,” confirmed Starlink President and CEO Gilles Bruneau in a telephone interview. “We are buying the Chrono buildings at Saint-Hubert airport. »

By email, Mr. Péladeau indicated that he had no comments to make.

This would be a second transaction in less than a year in this sector for the controlling shareholder of the Quebecor conglomerate, whose personal fortune is estimated at CAN 2.7 billion by the magazine Forbes.

Last year, he got Starlink¹which specializes in chartering private jets, in a transaction worth around 35 million, according to our information. The company’s main shareholder is Financière Outremont, which belongs to Mr. Péladeau.

Located at the intersection of Renaud and Ryan avenues, at the eastern end of the Montreal-Trudeau airport grounds, Starlink prides itself on offering “first class and nothing else” to its clientele, made up mainly of travelers. able to pay rates of several thousand dollars an hour to travel by private jet. Its hangar spans 85,000 square feet (7,900 square meters).

On the South Shore, the Lux terminal offers similar services, namely “comfortable lounges” and “full catering service” with an “executive chef”. Above all, passengers “do not have to wait for takeoff”, it is argued on the company’s website.

The construction of the location was made official in October 2019. With an area of ​​66,000 square feet (6,130 square meters), the hangar adjacent to the private terminal can accommodate two single-aisle airliners and “numerous business jets” .

Recovery expected

For Chrono, the sale of its assets on the South Shore is part of a process to restore its finances. Everything will have to be formalized by the Superior Court of Quebec, since Chrono plans to briefly turn to the Companies’ Creditors Arrangement Act (LACC) to start again on new bases.

“We are not in business to die with a business,” says the co-owner of the Quebec carrier Dany Gagnon.

At the time of writing, it was not possible to confirm whether the Quebec charter flight specialist had officially protected itself from its creditors. Through this mechanism, he wishes to make a composition proposal in order to free himself from his debts.

“On a daily basis, there will be no change in our activities and our business model,” assures Mr. Gagnon. You will learn more in the coming days or next week. The transaction is not yet concluded, but we are heading in that direction. »

Disturbing flights

Based in Quebec, Chrono operates a fleet of 14 aircraft to carry out charter flights. It has 300 employees, according to its website. Its bases are located in Montreal and Quebec.

On the South Shore, the company’s name was mainly associated with complaints from citizens bothered by the noise of the carrier’s planes. These night flights have been banned since 1^is last April.

The carrier was making night flights to bring mining company employees to the Far North aboard a Boeing 737-200, an old, noisy aircraft, but the only one that can land on a gravel runway in remote areas . There were generally two night takeoffs per week to Baffin Land, as well as three landings.

A year ago, Chrono filed a lawsuit against the managers of Saint-Hubert airport, who had already announced their intention to request a ban on night flights from April 2024. The request indicated that the The carrier’s operations were “in jeopardy” due to the limitation of flight hours at night.

1. Read “Pierre Karl Péladeau acquires a private terminal operator”