assumed ownership of J-2 on April 16, 1948. Andrew was already familiar with the Grumman Mallard when his friend and business associate Lord Beaverbrook took ownership of J-13 in 1946. (J-13 transferred to Andrews older brother Herbert Holt in June 1948).

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This was not Andrew's initial engagement with aviation, as he began flying upon joining the 14th Royal Canadian Regiment in 1914. Born in Montreal in 1893, Andrew was one of three sons of Sir Herbert Holt, a prominent businessman, banker, and corporate director. Sir Herbert served as President of the Royal Bank of Canada and Montreal Light, Heat and Power, and was a director of approximately 250 companies globally, managing assets valued at an estimated $200 million. Upon passing in 1941, the Montreal Gazette referred to him as "the richest man in Canada".

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Andrew Paton Holt graduated from the Royal Military College in Kingston, Ontario, in 1913, and was working as a stockbroker when World War I commenced. He became a founding member of the 14th (Royal Montreal Regiment) Battalion, being formally enrolled at Valcartier in September 1914. His attestation papers were signed by Captain Francis Scrimger, later recipient of the Victoria Cross.

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As the son of the richest man in Canada, it did give him many opportunities not only with finance but with relationships from his father, one being Lord Beaverbrook. Like Beaverbrook, Andrew made London home while continuing to do business in Canada.

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In the spring of 1928, Andrew had lunch with British pilot Robert Henry McIntosh, during which he announced plans to establish an aircraft development company. He also informed McIntosh of his aircraft purchase of s Fokker F,VIIb-3m, inviting him to become his private pilot and advisor in aviation matters. McIntosh accepted, and the two maintained a close professional relationship.

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The Aircraft Investment Corporation Ltd. was founded in July 1929 to facilitate the trade and construction of aircraft. Andrew Holt served as chairman, along side directors P.W. Pitt, H.C. Bevan, Ian W.W. Shephard, Brian E. Lewis, Sir Henry Segrave, H.P. Holt and D.C. Tewson. Sir Henry Segrave, noted pilot and sportsman, acted as technical advisor. The corporation was supported by figures​ such as Sir H. Cunliffe-Owen, Lord Ashfield, brokers Messrs, Gow & Parsons, S.B. Joel and R.O. Hamro. This consortium held interest in Sunders-Roe Ltd. and Blackburn through the short-lived Blackburn Consolidated Ltd. (1929-1931). Segrave, likely in his caoacity as advisor, contributed to designs such as the twin-engined Segrave Meteor1, manufactured by Saunders-Roe and referred to as Saro Segrave Meteor1.

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Andrew Holt's first seaplane was the Saro A.17 Cutty Sark in 1930, which came with his business relationship with Aircraft Investment Corp. and Saunders-Roe Ltd.​ This aircraft was destroyed during the bombing of Britain in 1942. ​​​​

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