Swiss business aviation holding company Sparfell Aviation Technology is planning to expand business in the UK after a restructuring. The expansion includes the acquisition of more aircraft by Masterjet.

Sparfell owns Geneva-based business aircraft management company Corporate Jet Management and has a 70 per cent stake in Farnborough-based aircraft broker Euro Aircraft Trading.

In January it acquired a 55 per cent stake in Masterjet, formerly Air Luxor Corporate Jets. This followed the sale of the Lisbon and Paris based aircraft operator by its parent company Air Luxor and Mirpuri Holdings. The remaining share is privately held.

Masterjet is to double its managed business fleet during the year with the acquisition of three more Cessna Citations, two Airbus Corporate Jets and two Dassault Falcon 900EXs.

Sparfell ceo Philip Queffelec says: "Masterjet does not own any aircraft. But we are in negotiations with Embraer to acquire a Lineage 1000, a corporate version of the E-190 regional jet, under development."

He told EBAN: "We are working to develop the financial side of the operations in Britain. We want to increase our business in Europe and UK operations are important to this."