Abu Dhabi-based investment firm Aabar Investments is investing a further $20 million in charter provider XOJet. The move came just four months after XOJet secured $470 million in additional funding from a group led by TPG, a Fort Worth-based private equity firm, and Aabar. Meanwhile, Aabar and XOjet said they plan to form a joint venture in the UAE to provide aviation services in the Middle East and North Africa.
XOJet has secured $470 million in additional financing, including $100 million in equity and a “more flexible debt facility” of $370 million that allows for the purchase of either new or used aircraft. The financing was led by TPG, a Fort Worth-based private equity firm, and Aabar, an Abu Dhabi-based investment firm. XOJet plans to use the additional capital to expand its charter aircraft operations.
Abu Dhabi’s Etihad Airways plans to spend $750 million on its workforce, fleet, in-flight service and planning and resourcing systems to support record-breaking airplane and engine orders placed at the last Farnborough and Paris Air Shows.
Boeing and Mubadala Development Co. yesterday signed a so-called strategic framework agreement covering “key” areas of collaboration, including such “mutual beneficial areas” as composite manufacturing, engineering, research and development, commercial maintenance, repair and overhaul, military maintenance and sustainment, pilot training and people development.
The BAE Systems Avro Business Jet (ABJ), which is based on the venerable BAe146/Avro RJ four-engine regional jet, is making its Dubai Airshow debut this week as BAE’s Asset Management arm vies to build on recent successes.
Abu Dhabi-based Royal Jet’s diversification and five-year plan have helped maintain its growth during the last year, according to Shane O’Hare, president and CEO. “This has been a good year for Royal Jet. Our business has grown in a declining market, which has increased our market share in the region,” he said at a press conference here yesterday.
MBDA’s joint venture with Abu Dhabi-based Baynuna Aviation Technology, dubbed Baynuna MBDA Missile Technologies (BMT), has just been incorporated. It was announced in February as a 49-51 effort between the European missile manufacturer and the local company.
Bell Helicopter delivered two Bell 412EP helicopters to Falcon Aviation Services yesterday, taking the Al Bateen, Abu Dhabi-based operator’s 412 fleet to 10, eight of which were delivered this year.
Embraer’s first Lineage 1000 executive jet is making a debut here at the Dubai Airshow, six months after it was delivered to launch customer Aamer Abdul Jalil al Fahim of Abu Dhabi at the EBACE show in Geneva in May. Eight more of the new $42.9 million airliner-class twinjets are set to be delivered to customers in the Middle East–almost half of the 20 orders placed to date.
Embraer reinforced its partnership with Falcon Aviation Services (FAS), of Abu Dhabi, United Arab Emirates, by signing an agreement to extend FAS’s maintenance capabilities to the Lineage 1000 executive jet. FAS became an Embraer authorized service center in the Middle East in November 2008 when it was given responsibility for the entry-level Phenom 100, light Phenom 300 and super-midsize Legacy 600.