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.
In an announcement, ExecuJets CEO, Mr. Niall Olver, reported that, "Mr. Desmonds investment serves to strengthen ExecuJets balance sheet, and further significant investment is planned to fuel the companys 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. Desmonds experience in business aviation, notably through former ownership of London City Airport, and generally as a successful investor in fastgrowing companies. "
Strategic and tactical management of ExecuJets business will remain unchanged; Mr. Olver emphasizing that, "the investment is premised as much on Mr. Desmonds confidence in ExecuJets current management team as it is on his confidence in the companys 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 ExecuJets business aviation investments and activity can be expected.