The company that manages private jets for tycoons such as Travelex founder Lloyd Dorfman and Topshop billionaire Sir Philip Green is being sued for up to £10m.
Gama Aviation, chaired by former Rolls-Royce boss Sir Ralph Robins, faces a High Court claim from Dustin Dryden, an entrepreneur who merged his business, Hangar8, with Gama in 2014.
Gama, capitalised at £114m based on Friday’s share price of 253p, has not informed the stock market of the action. Yesterday it said it had taken legal advice and had decided Dryden’s allegations were “baseless so therefore would not have a material impact on the business”.
Gama manages aircraft for businesses and wealthy individuals — making sure the jets are safe to fly, providing crews and arranging the best airports…