ExecuJet Middle East has sold ExecuJet Aviation Group (EAG) to Luxaviation, a leading business aviation group based in Luxembourg, Europe.

EAG and Alpha Middle East Holdings have been the founding and ongoing shareholders of ExecuJet Middle East since 1999, covering the Middle East, North Africa, India, Turkey and surrounding countries, said a statement.

The transaction will not affect the respective ownership or day-to-day operations of ExecuJet Middle East, as the company continues to pursue its expressed regional operations and growth strategy, it said.

Hadi Mouawad, chief executive officer of Alpha Middle East Holdings and executive board member of ExecuJet Middle East, said: “We are very pleased with the Luxaviation’s acquisition of EAG as it further expands the growing service network for our clients.

“As we embark on the next growth phase for the company we look forward to welcoming our new partners to the Middle East and working with them to achieve ExecuJet Middle East’s plans in the coming months and years.”

Patrick Hansen, CEO of Luxaviation Group and chairman of ExecuJet, added: “We are delighted to be working with not only our colleagues at ExecuJet but also our new partners at Alpha Middle East Holdings. We look forward to benefiting from both companies’ invaluable and extensive expertise to further expand our offering in the Mena markets.” - TradeArabia News Service