Portuguese wet-lease operator EuroAtlantic Airways has been acquired by an entity named I-Jet Aviation.
Portuguese wet-lease operator EuroAtlantic Airways has been acquired by an entity named I-Jet Aviation.
The sale was completed on 15 November and was fully equity-financed, says EuroAtlantic, without disclosing the transaction’s sum.
EuroAtlantic describes I-Jet Aviation as a “newly formed aviation investment company founded by Abed El Jaouni and [London-based investment firm] Njord Partners”.
Jakob Kjellberg of Njord Partners and El Jaouni are I-Jet’s principals.
El Jaouni’s LinkedIn profile shows that he owns Munich-based private jet charter and management firm Imperial Jet.
The acquisition of EuroAtlantic “positions I-Jet Aviation as a key player in European commercial and wet-leasing industry for wide-body aircraft and commercial jet charter”, the Lisbon-based operator asserts, noting an “increasing demand for ACMI and chartered aviation services”.
El Jaouni states: “We have ambitious plans for the business and will be providing the company and its existing management team with the full financial and operational support needed to deliver on these plans.”
Cirium fleets data lists EuroAtlantic as the operator of six Boeing 767-300s and a 777-200.
The carrier’s founder Tomaz Metello is to step down after 25 years at its helm. He will serve as a non-executive board member under the new ownership.
