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Luxembourg-based business jet management and charter company Luxaviation has acquired Swiss firm ExecuJet Aviation in a multi-million dollar deal.

With this deal, ExecuJet Aviation and Luxaviation have formed the second-largest corporate aircraft operator in the world.

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ExecuJet operates a fleet of 165 aircraft, including Bombardier Global Express, Boeing Business Jet, Gulfstream, Dassault and Pilatus aircraft.

The company serves Europe, Africa, Asia, Australasia, Latin American and the Middle East markets, and has a workforce of over 1,000. It offers aircraft management, aircraft charter, aircraft maintenance, FBO operations and aircraft completions management services.

The acquisition of ExecuJet has increased Luxaviation’s fleet to more than 250 business aircraft.

"The acquisition of ExecuJet is the next step in our growth strategy and significantly increases Luxaviation’s global reach."

Luxaviation CEO and ExecuJet chairman Patrick Hansen said: "The acquisition of ExecuJet is the next step in our growth strategy and significantly increases Luxaviation’s global reach.

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"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."

Following completion of the deal, ExecuJet will continue to operate with its identity, management team and operational independence under the supervision of newly appointed CEO Gerrit Basson.

ExecuJet Aviation outgoing chairman and CEO Niall Olver said: "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."

Saphir Capital Partners provided advisory services to Luxaviation on the transaction.

Image: Luxaviation CEO and Patrick Hansen and ExecuJet Aviation outgoing chairman and CEO Niall Olver. Photo: courtesy of ExecuJet Aviation Group AG.

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