Luxaviation Group acquires Masterjet
12 January 2015
Luxaviation (www.luxaviation.lu), the Luxembourgish business aviation group confirms its position as European leader of business aviation through the recent acquisition of Masterjet (www.masterjet.net ). Masterjet holds a Portuguese AOC, is headquartered in Lisbon and operates business jets from Paris/Le Bourget.
With its 44 employees in Paris and 13 aviation experts based in Lisbon, Masterjet operates a fleet of eight business jets ranging from Falcon- to Learjet- type aircrafts as well as a wide body Airbus 320, mainly targeting "head of state" clients. As part of Luxaviation Group, Masterjet will continue to be led by Edward Queffelec, President of Masterjet and son of founder Philip Queffelec, as well as Karol Gueremy, Managing Director.
Through the acquisition of Masterjet, Luxaviation Group offers the expertise and know-how of 520 employees across six European operating companies: Luxaviation (Luxembourg), Luxaviation Germany (Germany), Abelag (Belgium), Unijet (France), LEA (UK) and now Masterjet (Portugal). Luxaviation Group is also active in the high-growth markets of Asia-Pacific through a commercial office in Singapore. Luxaviation Group now operates a combined fleet of close to 100 business aircrafts, with particular strengths in the fast-growing large-cabin business jet market.
Luxaviation continues its strategy to retain the identity, leadership and operational independence of each operator within the group. In common with other group companies, Masterjet will benefit from valuable synergies including economies of scale in the purchasing of fuel, insurance, training and other significant cost areas; increased aircraft availability and utilisation within the group, with a broader range of aircraft types; and collaboration with other group companies to enhance best practice in all operational areas.
Patrick Hansen, co-CEO of Luxaviation Group, says: “The expertise, reputation and combined scale of the region’s most outstanding operators provide the group with an unmatched leverage. With the addition of the company’s Airbus 320 to our fleet, we will be able to serve a market with strategic potential supported by the state-of-the-art technical and commercial experience, that Masterjet offers for the ‘head of state’ sector”.
Edward Queffelec, President of Masterjet, says “We are looking forward to join Europe’s leading business aviation group and to continue to develop our markets by sharing deep local knowledge and expertise with like-minded sister companies throughout Europe". Karol Gueremy, Managing Director, continues: “The economies of scale enable Masterjet as well as our sister companies within the group, to further develop service standards to better serve the needs of our customers.”
Luxaviation Group was advised by Saphir Capital Partners, a Luxembourgish M&A advisory company.
Masterjet was advised by « Financière de Courcelles ».