Cirrus Aviation has acquired a stake in the Luxembourg executive charter company, Luxaviation. This means the Saarbruecken company is consolidating the long-standing partnership by means of a subsidiary.

"This participation helps us to strengthen our strategic position within Europe - we intend to concentrate increasingly on the Luxembourg market and thus exploit existing synergies to the optimum," said Stefan Buschle, md of Cirrus Aviation.

The German charter company's fleet of 17 jets will therefore be expanded with a new Citation XLS and a Citation II, which are already in operation in Luxembourg.

Both companies plan further expansion of the fleet before the end of 2006: "Together we intend to continue growing and to serve the Luxembourg business segment customers with a local, high quality executive fleet," commented Nico Franck, partner in Luxaviation.

The Luxembourg company, which has been active in the charter industry since 1994 and serves predominantly bank and government customers, will be operating with immediate effect under the name Cirrus Luxaviation.

For more information on Cirrus, see our regional review of Germany.