Vitol Group has agreed to purchase US-based jet fuel marketer Pacific Fuel Trading Corporation (“PFTC”) from Japan Airlines Corporation.
The pending acquisition of PFTC constitutes a significant step forward in Vitol’s global business in aviation fuel supply and distribution. PFTC has earned a reputation over the past 25 years as a highly competitive and reliable jet fuel supplier to many of the leading international airlines.
As part of the Vitol Group, PFTC will advance its reputation for competitive pricing and assurance of supply and will be extending its operations to additional domestic and international airports. Coupled with Vitol’s worldwide supply capabilities and financial strength, PFTC will become the cornerstone for Vitol’s rapidly expanding aviation fuels marketing. The company will continue to operate under the PFTC name and will retain its office and employees in El Segundo, California.
Japan Airlines will enter into a long-term contract with PFTC for jet fuel supply at Los Angles and San Francisco after the sale which will be completed on the 31st January.