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
Training
STATE
Invested
HEADQUARTERS
Burgos
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
Geographical Expansion
Opening of new bases at different Spanish airports and internationalization.
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.