Luxaviation Group sells LBAS maintenance stake to Bombardier
Luxaviation is selling its stake in Lufthansa Bombardier Aviation Services (LBAS), which provides maintenance services, to original equipment manufacturer (OEM) Bombardier. This is Luxaviation’s next step in its luxury strategy, outlined by concentrating on its core aviation services, the experiential side of the luxury market and investment in innovation.
The 20% stake – originally acquired by ExecuJet Aviation Group AG, now part of the Luxaviation Group, in 2005 – will pass to Bombardier, subject to closing conditions, by the end of the year.
Patrick Hansen, CEO, Luxaviation Group, said in a statement: “The sale of our stake in LBAS to Bombardier is the next logical step for Luxaviation, as we reaffirm our commitment to the private travel market and invest in innovative solutions for our customers.
“Together with Bombardier and Lufthansa, ExecuJet saw LBAS make significant progress over the past 15 years, becoming a hub for maintenance expertise at Berlin-Schönefeld airport.”
The Group’s luxury strategy has led to a number of moves including the sale of its maintenance business to Dassault early last year and expansion of its European – most recently Paris – and global private terminals.
In 2020, the group also announced the addition of 10 new aircraft to its charter operations, one of which was the world’s first Global 5500.
Jean-Christophe Gallagher, vice president, customer experience, Bombardier Aviation said: “This investment is critical to the expansion of our service footprint in Europe and around the world, and as the service centre is set to become a wholly-owned Bombardier service centre, our customers will benefit from the expertise offered by the OEM.”