German operator FAI rent-a-jet AG is looking for a value-for-money subsidiary after selling its interest in Switzerland's Nomad Aviation AG through a management buy-out.

FAI chairman Siegfried Axtmann said in a statement that the 15-month cooperation did not meet FAI's expectations in respect to collective added value.

"It made no sense for FAI to carry on with a second AOC and the costs involved in maintaining it. Nevertheless, FAI will continue screening the operator market for potential candidates, whose size and fleet would be appropriate for fully integration into FAI, but collective added value is a must."

Nomad Aviation was acquired by FAI in March 2009 to become FAI's executive jet service division. At the time FAI was intending to focus on its NGO and air ambulance businesses.

But Axtmann says: "In the meantime FAI has built up its own impressive fleet for dedicated executive charter."

The fleet includes a 2009 Falcon 900DX EASy, a 2003 Global Express and two 2000 Learjet 60s. A Challenger 604 and a CRJ 200 LR are joining the fleet and will bring its number to 18 including one Challenger 604 leased to Nomad.