ExecuJet Aviation Group of Switzerland has been acquired by Luxaviation, one of Europe's leading business aviation groups based in Luxembourg. The transaction sees Luxaviation acquire the entire share capital of ExecuJet and become what it claims is the second largest corp-orate aircraft operator in the world.

ExecuJet employs a workforce of over 1,000 staff and operates in Europe, Africa, Asia, Australasia, Latin America and the Middle East. Founded in 1991, the company operates a fleet of 165 aircraft worldwide, including the Global Express, BBJs, jets by Gulfstream and Dassault, and Pilatus props. Its portfolio includes aircraft management, charter, maintenance, FBO operations and completions management.

In common with other Luxaviation Group companies such as London Executive Aviation, Abelag, Unijet and Masterjet, ExecuJet will retain its identity, management team and operational independence while benefiting from synergies and economies of scale within the group.

ExecuJet will be led by Gerrit Basson, newly appointed as ceo and formerly the company's president and coo. Patrick Hansen, ceo of Luxaviation Group, has been appointed to the position of chairman of ExecuJet. Niall Olver, the founding ceo and chairman of ExecuJet is standing down but will continue in an advisory capacity for the foreseeable future.

Outgoing ceo and chairman Olver remarks: “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. I step down as ceo and chairman safe in the knowledge that this transition marks the start of yet another exciting chapter in the history of ExecuJet. By joining forces with Luxaviation, ExecuJet will further grow its reputation and, through increased economies of scale, continue to offer the very best service standards.”

Adds Hansen: “The acquisition of ExecuJet is the next step in our growth strategy and significantly increases our global reach. Its 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.”

Luxaviation can now offer the expertise of its 520 employees across seven European operating companies, and operates a combined fleet of over 250 business aircraft.