Press Release

Issued by Luxaviation Luxembourg.

January 13, 2014

The Luxembourgish business aviation group Luxaviation has taken a further step forward by acquiring the leading French business aviation operator Unijet through its Belgian subsidiary Abelag. Based at Le Bourget in Paris, Unijet will provide the group with access to the first European business aviation airport.

With the acquisition of Unijet, the new group has increased its staff to 350 employees and now operates 60 business planes, including one third of long-carriers, spread over Benelux, Germany and France. As both Unijet and Abelag count amongst the longest established business aviation companies in Europe, Luxaviation group can rely on more than 100 years of excellence and client know-how.

The respective experience of the group's operators will allow conducting important projects like the pooling of a large number of operational services (maintenance, technical documents, insurance, aso.). The increased competitiveness resulting from the combination of these economies of scale with the flexibility of an expanded and diversified fleet, allows the group's operators to maintain the best tariff level for the benefit of the clients.

Patrick Hansen, ceo of Luxaviation group says: "The integration of Unijet into our group is the confirmation of Luxaviation's international growth ambitions mainly in Europe but also Asia where developments are currently moving fast."

Hervé Laitat, ceo of Abelag adds: "The European business aviation segment becomes increasingly regulated thus stimulating operators with important fleets. The acquisition deal of Unijet appears meaningful in a market segment which remains highly fragmented as 80% of aviation companies operate less than four planes."

The integration of the French operator into the Luxembourgish group is the result of a natural reconciliation of the activities of four countries with important cultural similarities. Dannys Famin, ceo of Unijet concludes: "We are particularly pleased to be part of a group living a corporate culture which is very close to the one of Unijet. We will continue to offer our clients excellent and optimized services while retaining our identity which is so specific to the French market's expectations."

In this transaction Luxaviation has been advised by Saphir Capital Partners, a Luxembourgish M&A advisory company.