Luxaviation (LXA, Luxembourg) has acquired Switzerland's ExecuJet Aviation Group AG thus creating the world's second largest business jet operator after NetJets Aviation (1I, Columbus John Glenn, OH) parent, NetJets.

Under the deal, whose value has not been disclosed, ExecuJet will retain its identity, management team and operational independence while benefiting from synergies within the Luxaviation group. These benefits include economies of scale in the purchasing of fuel, insurance, training and other significant cost areas; increased aircraft availability and utilisation within the group, with a broader range of aircraft types; and collaboration with other group companies to enhance best practice in all operational areas.

However, as a subsidiary of the Luxembourg-based firm, ExecuJet will now be led by newly appointed CEO and former President and COO, Gerrit Basson. Niall Olver, the founding CEO and Chairman of ExecuJet stands down accordingly but will continue in an advisory capacity for the foreseeable future.

Founded in 1991, the company operates a diverse fleet of 165 aircraft worldwide, including a significant Global Express fleet along with other Bombardier Aerospace products, Boeing Business Jets, Gulfstream Aerospace (GLF, Savannah Int'l), Dassault Aviation (DAB, Paris Le Bourget) and Pilatus Aircraft (PCH, Buochs).

Alongside Execujet, whose subsidiary includes ExecuJet Europe (Switzerland) (VCN, Zurich), Alpha 55 ExecuJet (Dubai Int'l), ExecuJet Middle East (EJO, Dubai World Central), ExecuJet Europe (Germany) (VCN, Berlin Schönefeld), ExecuJet Scandinavia (VMP, Copenhagen Roskilde), ExecuJet (United Kingdom) (LCY, Cambridge), ExecuJet Nigeria (Lagos) and ExecuJet Air Charter (EXD, Lanseria) other members of the Luxaviation Group include Luxaviation Germany (LXG, Paderborn/Lippstadt), Abelag Aviation (AAB, Brussels National), Unijet (LEA, Paris Le Bourget), London Executive Aviation (LNX, Stapleford), and Masterjet (LMJ, Lisbon).