Execujet sold to Dermot Desmond

 - June 5, 2007, 5:43 AM

Irish entrepreneur Dermot Desmond has acquired a majority shareholding in the entities that compose ExecuJet Aviation Group, which provides charter/management services, sales for Bombardier Business Aircraft and Grob Aerospace, aircraft maintenance services and operates FBOs on four continents. Niall Olver will remain ExecuJet’s CEO, while Desmond will become chairman of the company. Desmond’s investment in ExecuJet will “strengthen ExecuJet’s balance sheet,” Olver said, “and further significant investment is planned to fuel the company’s global business growth plans.”