06.11.2008
aerokurier

Dermont Desmond ExecuJetDermont Desmond Invests In ExecuJet Aviation

ExecuJet Aviation Group of Zurich, Switzerland, revealed on May 8, that they had reached agreement with international investor Dermot Desmond on a management lead initiative resulting in Mr. Desmond acquiring a majority shareholding in the subsidiaries and associated companies constituting the ExecuJet Aviation Group.

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In an announcement, ExecuJet’s CEO, Mr. Niall Olver, reported that, "Mr. Desmond’s investment serves to strengthen ExecuJet’s balance sheet, and further significant investment is planned to fuel the company’s global business growth plans." He added that, "In addition to providing ExecuJet with the capital needed for future growth, we look forward to drawing upon Mr. Desmond’s experience in business aviation, notably through former ownership of London City Airport, and generally as a successful  investor in fast–growing companies. " 

Strategic and tactical management of ExecuJet’s business will remain unchanged; Mr. Olver emphasizing that, "the investment is premised as much on Mr. Desmond’s confidence in ExecuJet’s current management team as it is on his confidence in the company’s product, services portfolio and future plans. Mr. Desmond will become Chairman of ExecuJet with Brendan Murphy of IIU appointed as Deputy Chairman." Further announcements in the short term concerning ExecuJet’s business aviation investments and activity can be expected.







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