AirX founder and chairman John Matthews has been backed by Investec Bank to take a controlling stake in the company. The support permits Matthews to acquire shares from an early stage investor who held significant shares in the business. AirX is executing a large expansion plan over the next two years. The company has a fleet of 19 aircraft in Europe as well as operations in the USA, with two aircraft currently under management. Its roster ranges from Citation Xs through to a VIP-configured Airbus A340, one of the world's largest aircraft available for private charter with 100 lie-flat business class seats.

Clients include royal families, heads of state, film and music tours, sports teams, high net worth individuals, corporate executives and celebrities.

Investec will assist AirX in seeking further equity investment ahead of a planned IPO in the next 12-24 months.

Head of Investec Ryan Tholet says: “Our private bank's capital team has a specific mandate to back entrepreneurial owner-managers in growing their businesses. We see AirX as a highly disruptive company in the private charter aviation space and we are delighted to partner with John and AirX for the next stage of the journey. This transaction highlights the private capital team's long-term partnership approach and equity mind-set in supporting entrepreneurs' growth ambitions with access to both capital and an ecosystem of other like-minded entrepreneurs.”

Matthews adds: “This investment by the private capital team is a vote of confidence in AirX. This was not a straightforward transaction and we appreciate Investec's willingness to engage with the various nuances. Regaining a controlling position in AirX at this stage in the company's development was important to me as the founder and will allow us to move ahead with our plan. I look forward to further successful transactions in partnership with Investec.”