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Based in Bilbao since 2008, FlyBy was founded by two experienced pilots who established an aeronautical training center at one of the main airports in northern Spain. The academy quickly obtained all the necessary certifications to deliver comprehensive programs, including the EASA Integrated ATPL course.
In 2015, under new management, FlyBy revolutionized its business model to offer all-inclusive pilot training to an international audience. This transformation has enabled the training of over 1,500 students from 112 different countries. The school has experienced exponential growth, expanding its fleet from 3 to 45 aircraft projected by the end of 2024, in addition to incorporating 3 simulators. It now primarily operates out of Burgos Airport, where it accounts for over 90% of the activity, and plans to open a third base soon.
The company has grown from representing 1% of the Spanish market to capturing 15% by 2024, while maintaining its commitment to expansion and the continuous improvement of its facilities for the benefit of its students

PURCHASE

November, 2024

SECTOR

Air Transport

STATE

Invested

HEADQUARTERS

Bilbao

PARTICIPATION

Majority

ACQUIRED FROM

Ownership

REVENUE AT PURCHASE

18 m€

NUMBER OF EMPLOYEES

74

INTERNATIONAL PRESENCE

Spain

FUND

SHERPA PRIVATE EQUITY, FCR

Fernando Aguado

Operating Partner

Juan Hornedo

Investment Director

One
to one

Opening of Bases

Through a new base at the private aerodrome in Ocaña (Toledo), featuring an integrated student residence, and additional bases at various Spanish airports.

Inorganic Growth

Through mergers and acquisitions to consolidate the market at a European level and expand internationally.

Value Proposition

By diversifying the business through entry into other aeronautical training programs.