Three European aviation companies create iFuel
Three European aviation businesses have come together to create iFuel, a new aviation fuel and associated services provider. London-based charter broker Open Aero, fuel supplier Jet Aero Fuels (JAF) and Switzerland-based 28 East Group have signed an agreement to form the new company which will support strategic expansion plans for all three businesses. The deal was ratified at the recent MEBA Show in Dubai in December 2012.
Jet Aero Fuels will provide 28 East Group and Open Aero’s clients with competitively priced fuel, together with ground handling services. Initially the new company will focus on the CIS region, iFuel will be offering services at most of the CIS airports including Russia’s Sheremetyevo and Domodedovo International Airports, Knevichi Airport, Vladivostok, Boryspil Airport, Kiev, Ukraine and Lochini Airport, Tbilisi, Georgia.
General director of Jet Aero Fuels, Rinad El-Rabaa will become president of iFuel.
The newly formed partnership with 28 East Group and Open Aero will widen the scope of Jet Aero Fuels services to incorporate a business aviation offering. For 28 East Group and Open Aero the deal will ensure that new and existing clients together with aircraft operators will receive favourably priced fuel and ground handling fees when passing through airports offering iFuel services.
“As fuel is the most significant operational cost of any charter we anticipate that having direct access to aviation gas and premium ground handling services, at beneficial rates, will ensure large jet charters will select iFuel in the future. This deal buoys up 28 East Group’s commitment to providing aviation clients with the best service and pricing possible, and more importantly will open further potential markets for all of the iFuel partners in the CIS region and further afield,” said Erica Da Veiga, partner of 28 East Group.