News / Amerijet struggles may be 'a reason to think twice about PE ownership'

© Richair

Amerijet’s financial struggles, blamed in part on private equity (PE) “extraction”, have seen it taken over by a hedge fund, according to a source familiar with the matter. 

It was acquired in 2016 by ZS Fund and partners. But according to a well-placed source, Amerijet became saddled with some $200m of debt under PE ownership, which it was unable to service after the Covid-fuelled demand boom ended and the market softened, in tandem with the loss of some contracts. 

The new owner ...