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The JV effectively raises the bar on premium business jet services, aircraft management and maintenance in a market that is currently witnessing an exponential increase in executives opting for privacy, time savings, convenience and superior personalised services.
The JV 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.
Mr. 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."
"It has become increasingly important and much easier for corporations and individuals in this region to utilise private business aircraft as an efficient means of transportation. 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," he added.
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. In October this year the company took delivery of the seventh Legacy 600 and the fifth Gulfstream aircraft. In total the company operates 36 modern private jets of various sizes with an average age of 2.37 years.
Dieter Heinen said: "We are extremely honored to be partnering with such a sound and progressive business partner. I feel the high quality standards we will be bringing to our partnership fits perfectly in such a dynamic country as the UAE. We truly believe that our passion for details will bring a new definition to the business aviation market in the Middle East."
DC Aviation will participate in this year's Middle East Business Aviation (MEBA) show which takes place at the Dubai Airport Expo from November 16-18.
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Posted by Siba Sami Ammari
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