Cambridge based Marshall Aerospace and Defence Group has bought FlairJet, an aircraft management and charter company which operates out of Oxford.
The company will become part of the Marshall Aerospace's newly formed Aviation Services business unit.
FlairJet was formed in 2009. Since then it established itself as an aircraft management company operating Embraer Phenom jets.
It recently expanded to embrace the Middle East, Africa, the Caucuses and Russia.
£350 million contract for Cambridge firm will help sustain hundreds of jobs in region
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Cambridge aeronautical company Marshall Aerospace has won a new #350 million contract to maintain the RAF's Hercules military transporters. The contract will save the taxpayer #170 million by replacing a number of short-term contracts with one until the end of 2015.
The new deal with Marshall Aerospace will support 500 jobs in the UK, according to the MoD.
Most of the work will be at Marshall's base at Cambridge Airport but the supply chain will be managed by Lockheed Martin in Havant, Stansted and Gloucester.
