FAI Steps Out of Nomad

Jul 14, 2010 12:25 PM

German Operator FAI rent-a-jet AG (FAI) has stepped out of Nomad-Aviation AG (Nomad) by selling its interest in the Swiss company through a Management-Buy-Out.

“After the 15-month cooperation did not meet FAI´s expectations in respect to collective added-value, it made no sense for FAI to carry on with a second AOC and the costs involved in maintaining it. Nevertheless, FAI will continue screening the operator market for potential M&A candidates, whose size and fleet would make sense to be fully integrated into FAI, but collective added-value is a must,” Siegfried Axtmann, FAI´s Chairman said.

Nomad was acquired by FAI in March 2009 to become FAI´s Executive Jet Service Division, while FAI at the time intended to focus on its NGO and Air-Ambulance Businesses. Meanwhile, FAI has built up its own impressive Fleet for dedicated Executive-Charter, headed by a 2009 Falcon 900 DX EASy, a 2003 Global Express, plus two 2000 Learjet 60´s. A CL 604 and a CRJ 200 LR will be joining the fleet shortly, bringing the total fleet size to 18 Jet Aircraft, of which one CL 604 is leased to Nomad.

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