German executive charter operator DC Aviation has signed a joint-venture agreement with Dubai-based Al-Futtaim group to start a new business aviation operation to serve the high-end Middle East market. Al-Futtaim is structured into seven divisions: automotive, engineering, electronics and technology, retail, financial services, general services, real estate and joint ventures.
The venture will utilize Al-Futtaim’s local presence alongside DC Aviation’s capabilities in aircraft management, executive charter, aircraft maintenance and consulting services. Subject to regulatory approvals, the new company will start operations in 2009.
Omar Al-Futtaim, CEO of the Al-Futtaim group, said that the agreement formed “a significant part in our group’s expansion and diversification strategy. We are particularly pleased to have been able to attract a partner with the business jet aviation expertise and caliber of DC aviation.”