Axtmann acquires majority in Fly Alpha
Axtmann Holdings, the parent company of FAI rent-a-jet, has acquired a majority shareholding in Nuremberg based Fly Alpha.
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The deal sees Axtmann Holding take a 51% stake in the company, with an option to complete a full purchase at a later time. Under the terms of the agreement Fly Alpha’s Hawker Beechcraft Premier 1A, Beechcraft King Air 200 and Beechcraft King Air 300 will now be available for charter through FAI rent-a-jet, although they will continue to operate under Fly Alpha’s AOC.
The transaction, for an undisclosed amount, sees Fly Alpha retaining its name and brand. It will remain under the management of Marcus Kaiser, the managing director, and the existing team will maintain their roles.
“We have noticed that there is a lot of opportunity in Europe for the shorter two hour charter flights which we were not tapping into.”
Siegfried Axtmann, chairman of FAI says: “We have noticed that there is a lot of opportunity in Europe for the shorter two hour charter flights which we were not tapping into. Our fleet is more suited to longer range flights so it made sense to add in smaller aircraft to maximise use of our resources. We identified Fly Alpha as we know them well and have always admired them as an operator. It was a good opportunity for us to work together more closely.”
As part of the larger group Fly Alpha now benefits from increased buying power and has access to the full maintenance facility offered by FAI rent-a-jet sister company FAI Technik.
“We anticipate this will be the first of a number of acquisitions we will make as the European sector continues to consolidate,” adds Axtmann.