Vienna-based investment firm R. Schwarz Holding has acquired a 100% stake in business charter operator Tyrolean Jet Service (TJS, Innsbruck) from the Swarovski family, the owners of the renowned jewellery company, the Tiroler Tagezeitung daily has reported.

The Austrian operator has a fleet comprising one Cessna Citation CJ1+, two CJ2s, two Citation XLS+, one Global 5000, one E505, one Falcon 900EX, and one Falcon 7X. One of the Citation XLS+ and the Falcon 7X are currently registered in Malta through TJS Malta (TYJ, Malta International). The company also has an AOC in San Marino but does not appear to have any aircraft registered to it.

Tyrolean Jet Service was launched in 1958 by the Swarovskis as a corporate flight department. It has subsequently expanded to include scheduled services, eventually spun off as Tyrolean Airways and eventually taken over by Austrian Airlines in 1998, and air ambulance under the Tyrol Air Ambulance (TYW, Innsbruck) brand, which is currently owned by US-based Phoenix Air Holding.

R. Schwarz Holding is co-owned by Reuwen Schwarz and Jill Ruth Wyler. Schwarz is also a board member of Air-Corviglia, a Swiss virtual carrier deploying a single PC-12NG on business charters under the AOC of AXIS Aviation (BQA, Zurich).