Luxembourg/ San Francisco (CA)– Luxaviation Group, one of the largest private aircraft operators worldwide, who is presenting today at the first edition of Revolution Aero in San Francisco (CA), signed an MOU with air transportation provider Flugauto, confirming its unique solution supply for the emerging VTOL (Vertical Take Off and Landing) business.
Luxaviation merges with the German aviation company FairJets GmbH
Through this business merger, the combined fleet of the newly created business aviation group will increase to 17 aircrafts and include jets of all ranges. FairJets will keep operating from Paderborn and luxaviation will keep operating from Luxembourg. The staff of both companies will be entirely retained in order to allow the sharing of competencies and best practices and to have a healthy basis for future growth.
The two companies currently have different, yet complementary, business models and the combination of these two operations will allow the combined group to manage costs, to grow and to position itself as a consolidator in the European business aviation market. Both entities will keep their AOC’s (Air Operator Certificates) in their respective countries so that aircrafts can be registered in Germany or in Luxembourg, as per the requirements of the financing banks and the aircraft owners.
“We are very proud to be able to work closely together with the FairJets team that has managed to become rather quickly one of the biggest business aviation operators in Germany and that has an excellent reputation with clients, banks and aircraft owners. This investment is absolutely in line with luxaviation’s objective to grow and to build a safe and profitable business aviation company providing an excellent service to a European clientele” says Patrick Hansen, CEO of luxaviation.
“Our business models are complementary and so are our markets and competencies. FairJets has traditionally been very strong in the German market and attractive to aircraft owners while luxaviation has developed a fantastic sales network throughout Europe, thus enabling both companies to better match demand and fleet capacity” confirms Dr. Dirk Bruse, CEO of FairJets.
Both companies also agree to develop their own maintenance and training facilities in order to provide to both companies an increased flexibility of operations, reduced costs and quality control. However only in the upcoming months, depending on external factors like financing but also availability of space on the respective airports, luxaviation will decide whether such investments shall be done in Luxembourg or in Paderborn.
From 2014, Fairjet is now called Luxaviation Germany.