Business aviation services company Luxaviation is seeking to widen its share of the Asia-Pacific market through a strategic partnership with Malaysian logistics company DMG Adventures.
This latest alliance is part of the Luxembourg-based company’s strategy to broaden its international offering through organic growth, partnerships and acquisitions, and to reach a fleet goal of 500 business aircraft by 2020.
“You can’t be serious about business aviation and not be in Asia,” says Luxaviation chief executive Patrick Hansen, who is spearheading the company’s international expansion.
Luxaviation began operations in 2009 with a single business jet. It started down the acquisition trail in 2011, with the purchase of German charter company FairJets. Since 2013, the Benelux firm has added five more companies to its portfolio through debt-funded acquisitions, making it the second-largest operator of its type in the world, with an inventory of more than 250 business jets and turboprops. Recent acquisitions include London Executive Aviation in the UK and ExecuJet in Switzerland. The latter is its largest purchase to date, with bases in Europe, Africa, Australasia, Latin America, the Middle East and Asia.
“We are keen to expand our presence in the Asia-Pacific, where we already have a number of bases including in Singapore, China, Indonesia, Australia and New Zealand," says Hansen. “Malaysia fits nicely into this grouping.”
Hansen's view is echoed by Tom Künsch, managing director of Luxaviation Asia. “Malaysia is an ever-developing market which continues to attract new business opportunities, and as one of the largest trading nations, our strategic partnership has potential to generate substantial business aviation activities for years to come.”
Flight Fleets Analyzer records an inventory of 48 business aircraft in Malaysia, from a fleet of more than 1,000 in the Asia-Pacific region.
Luxaviation is also eyeing opportunities in Cambodia and Vietnam, Hansen reveals, and is also planning to expand its presence in China. “Our Chinese shareholder is helping to drive growth and build the business here,” he says, referring to investment by China Minsheng, which has a 33% stake in the company. The Chinese financial group also owns the China-based operator Minsheng Jet and has a significant aircraft lease portfolio.