DIFC Investments and Zabeel Investments join forces to acquire strategic equity stake in Empire Aviation Group

Sheikh Tariq Bin Faisal Al Qassimi, Chairman of Emirates Investments Group (EIG), and chairman of EAG said, "The reputation we have earned in the business aviation industry can be attributed to the successful implementation of our long term strategy, which is based on in-depth feasibility studies of the regional market. This insightful plan has begun to bear fruit as we are witnessing further expansion that will position the company as a leader in the regional private aviation sector".

Commenting on the agreement, Al Qassimi added, "This new agreement confirms the position of our company on various levels, as the two parties that we have signed with are regional heavyweights in the Middle East's financial and investment sectors. We are thrilled to join forces with Dubai International Financial Centre Investments and Zabeel Investments. This deal will enable us to reach new levels of success and will create new and exciting opportunities within the field of private aviation business - a market full of untapped potential."

Zabeel Investments' Executive Chairman, Excellency Mohammed Ali Al Hashimi said, "This agreement comes with the aim of implementing our mutual visions for the expansion and growth of this vital industry. We see great potential in this market. This agreement and its expected success will further encourage huge investments and capital flow into this attractive business opportunity."

Mr. Bisher Barazi , Managing Director for Dubai International Financial Center Investments,

"Our inclination toward such investments can be attributed to the leading position of the Empire Aviation Group, and the significant role the company is set to play in the growth of the region's private aviation industry. This is a landmark agreement in the history of the business and private aviation sectors, as it will provide the necessary instruments to significantly contribute to the industry's forward momentum."

Business aviation fleets consist of approximately 25 thousand aircraft worldwide, 35% of which are jets. The Middle East accounts for only 2 percent of the global private jet market, while the total value of the private aviation market in the USA is estimated at over $150bn.

Aerospace experts are predicting that the world's aviation fleet will double to more than 35,000 aircraft by 2025, while Business & Commercial Aviation companies will need more than 25700 aircraft over the next 20 years to satisfy the spurring demand - according to forecasts by passenger aircraft manufacturers - with small size jets to account for 60 percent of the predictable supply, as these types of aircraft are the most sought-after among GCC businessmen.

Speaking about the company's activities, Mr. Paras Dhamecha, CEO of Empire Aviation Group, said, "Empire Aviation Group signed a distributor agreement with Hawker Beechcraft Corporation, the world's leading business, special mission and training aircraft manufacturer, for the GCC and Pakistan, at the Paris Air Show 2007. Under this agreement, Empire Aviation Group will be responsible for Hawker Beechcraft's aircraft sales and support in the GCC and Pakistan through its Empire Aircraft Sales subsidiary. The agreement grants us exclusive distribution rights in a number of key countries."

The Empire Aviation Group is a general business aviation company, founded in the United Arab Emirates (UAE) in 2007 to manage the regional aviation interests of the UAE-based Emirates Investments Group. It was established in response to the opportunity inherent in the Middle East's regional market for business aviation services. The company offers a broad portfolio of aviation services, including Aircraft Sales, Aircraft Charter, Air Ambulance Services, Aircraft Management, Aircraft financing and insurance.