ExecuJet joins Luxaviation Group
In a sign of the times, ExecuJet Aviation Group is acquired by Luxaviation to create world’s second largest corporate aircraft operator.
Lately, industry insiders have been talking about how the business aviation sector was long overdue for a wave of consolidation. Today, that wave hit with the acquisition of Swiss-based ExecuJet Aviation Group by the Luxembourg-based Luxaviation Group.
The result: the creation of what is now the world’s second largest corporate aircraft operator.
Luxaviation has been on a shopping spree, recently acquiring Abelag (Belgium), Unijet (France), London Executive Aviation (UK) and Masterjet (Portugal) – on top of Luxaviation (Luxembourg) and Luxaviation Germany – formerly known as FairJets. But what makes this acquisition standout is its size.
With ExecuJet employing a global workforce of over 1,000 spread across Europe, Africa, Asia, Australasia, Latin America and the Middle East and a 165 strong fleet that includes Global Express, BBJ, Gulfstream, Dassault, Learjet and Pilatus aircraft – calling this acquisition a ‘game changer’ seems like a little of an understatement. Add to this the company’s comprehensive service portfolio that includes aircraft management, aircraft charter, aircraft maintenance, FBO operations and aircraft completions management and Luxaviation has essentially bought itself the title of ‘Global Player’.
“This market consolidation will bring a range of benefits to ExecuJet and its clients, including the sharing of local knowledge and expertise with sister companies in the Luxaviation Group,” says outgoing ExecuJet CEO & Chairman Niall Olver. “By joining forces with Luxaviation, ExecuJet will further grow its reputation and, through increased economies of scale, continue to offer the standard of service our clients have come to expect.”
“The acquisition of ExecuJet is the next step in our growth strategy and significantly increases Luxaviation’s global reach,” adds Luxaviation Group CEO & ExecuJet Chairman Patrick Hansen. “ExecuJet’s operations give us a strong presence in some of the world’s fastest growing business aviation markets, including Asia, Latin America and the Middle East, as well as a significantly larger managed fleet.”
The new Luxaviation Group by the numbers
- 1500 employees
- 250 business aircraft under management
- 146 Aircraft available for charter
- 14 AOCs
- 20 FBOs
- 13 MRO facilities
- Presence across 22 countries
According to the terms of the transaction, Luxaviation is acquiring the entire share capital of ExecuJet. As with the other Luxaviation Group companies, ExecuJet will retain its identity, management team and operational independence while benefiting from valuable synergies within the group, including economies of scale in the purchasing of fuel, insurance, training and other significant cost areas; increased aircraft availability and utilization within the group, with a broader range of aircraft types; and collaboration with other group companies to enhance best practice in all operational areas.
As a company operating within the Luxaviation Group, ExecuJet will be led by Gerrit Basson, newly appointed CEO and former President and COO. Patrick Hansen, CEO of Luxaviation Group, is appointed to the position of Chairman of ExecuJet. Niall Olver, the founding CEO and Chairman of ExecuJet, stands down accordingly but continues in an advisory capacity for the foreseeable future.