Indian maintenance, repair and overhaul provider Air Works has acquired an undisclosed stake in Dubai-based business aviation services company Empire Aviation Group (EAG).
The 1.2 billion rupee ($22 million) investment is part of a wider strategy by the two companies to expand their footprints with each other's lucrative home markets.
"We are fully confident that by working closely together, Air Works and EAG can build a strong franchise in the emerging aviation markets of India and the Middle East," says Air Works managing director Vivek Gour.
EAG co-founder and executive director Steve Hartley says: "This partnership will help EAG to broaden our business base and service offering in the Middle East and India and beyond. The timing is absolutely right as the global aviation sector recovers and this move will help accelerate EAG's growth and development as a regional and international player in private aviation, which has been our mission since we started the company in Dubai, in 2007."
Source: Flight International