In a deal to create the world’s second-largest corporate aircraft operator, Luxaviation, a business jet charter and management group based in Luxembourg, today is acquiring Zurich-based ExecuJet Aviation.
Under the terms of the deal, Luxaviation will acquire the entire share capital of ExecuJet, which has operations in Asia, Australasia, Africa, Latin America, the Middle East and in Europe. Its fleet of about 180 managed aircraft will bring the number of aircraft operated by the combined entity to more than 250. This is second only the the fleet of 700 operated worldwide by US-based NetJets.
ExecuJet, operating since 1991, offers aircraft charter, management, and maintenance, and is based at 19 airports around the world.
Luxaviation has grown by acquiring four European operators since 2009, including London Executive Aviation (LEA) in 2014. Last week it agreed to a deal with China Minsheng Investments, a Chinese investment fund that is the biggest shareholder in business aircraft operator Minsheng International Jet.
Luxaviation’s strategy with its acquisitions has been to preserve their operational independence while benefiting from economies of scale in purchasing high-cost items such as fuel, insurance and training.
With the two latest deals, Luxaviation is making strides towards its stated goal of 500 aircraft under management by 2019.
– courtesy Financial Times, full article here.
Luxaviation and ExecuJet charter fleet details are available in FlightList PRO.
Luxaviation Challenger 300 based Luxembourg