French aviation investment firm Avico Group has announced it has acquired a majority stake in Senegalese passenger charter carrier Arc en Ciel Aviation (Dakar Yoff-Léopold Sédar Senghor International) for an undisclosed sum.
In a statement, Avico Group said it had undertaken the transaction in partnership with Senegalese holding Beliel.
Arc-en-Ciel Aviation was founded in 1996 but sold to its current owner, Michel Jacquot, in 2004. Based in Dakar, it currently operates a fleet of six aircraft including Cessna (single turboprop) 208B Grand Caravans, and various Piper (twin piston) light aircraft. It specialises in business aviation, medical evacuations, urgent cargo and air taxi operations.
"We are pleased to have concluded an agreement with Michel Jacquot and Ngadiel Ka [of Beliel Group] which will allow us to launch new operations in Western Africa," Mourad Majoul, founder and executive President of Avico Group, said. "Arc en Ciel's know-how and professionalism will be key assets in the development of air transport to/from Senegal.”
Avico Group was founded in 1996 by Mourad Majoul, current executive President, to develop the French charter and wet-lease markets. Over the last decade, it has nurtured 16 new ventures across the globe.
