- May 9, 2007, 4:43 AM

In yesterday's report about the change of ownership at ExecuJet Aviation ("Desmond Buys Majority Share of Execujet"), AINonline incorrectly reported that Dermot Desmond is the majority owner of Grob Aerospace. In fact, Mr Desmond holds no shares in Grob Aerospace and has no connection with the company. Mr Desmond, who is founder and chairman of International Investment and Underwriting, is now the majority shareholder in ExecuJet Aviation. Grob Aerospace is in fact owned by a Swiss consortium led by it’s CEO, Niall Olver. AIN apologizes for this error.