Monday, Nov 17, 2008
Gulf News
Dubai: DC Aviation, Germany's leading operator of business jets, and Al Futtaim Group on Sunday signed a joint venture agreement to establish one of the foremost executive business jet companies in the region.
Omar Al Futtaim, chief executive of Al Futtaim Group and Dieter Heinen chief executive of DC Aviation signed the agreement under which the new aviation company will serve the high-end Middle East market with an advanced fleet of aircraft manned by first-class professionals.
The venture will capitalise on Al Futtaim group's strong fundamentals and presence in the Middle East, and DC Aviation's global reputation as a premium provider of aircraft management, executive charter operations, business jet maintenance and consultation services.
It is expected that the new company will commence operations in 2009, subject to all regulatory approvals.
Al Futtaim said: "This joint venture agreement is full of exciting opportunities and plays a significant part of our group's expansion and diversification strategy. We are particularly pleased to have been able to attract a partner with the business jet aviation expertise and calibre of DC Aviation because the Middle East and global business aviation sector is undergoing an interesting transformation. The new company will focus on meeting demanding requirements of the private aviation business and attracting top business executives through an array of personalised services."
Germany's largest operator of business jets, DC Aviation recently announced the upgrading of its fleet with four Airbus Corporate Jets, Gulfstream 550 and 450, Embraer Legacy 600 and Citation XLS. Last month the company took delivery of the seventh Legacy 600 and the fifth Gulfstream. In total the company operates 36 modern private jets of various sizes with an average age of 2.37 years.
DC Aviation is participating in this year's Middle East Business Aviation (MEBA) show which continues at the Dubai Airport Expo till November 18.
Gulf News 2008. All rights reserved.
