Executive Jet has acquired Zimex Aviation's holding in the Netjets Europe fractional ownership programme, for an undisclosed sum.
The move is regarded as a further step by Warren Buffett to exercise control of the Netjets operation, since his holding company, Berkshire Hathaway, acquired Woodbridge New Jersey-based Executive Jet in 1998 for $750 million.
The Geneva, Switzerland-based maintenance company linked with majority shareholder Executive Jet and Portuguese aircraft operator Air Luxor to form Netjets Europe in 1996, 10 years after the US programme was launched.
Executive Jet's expansion policy outside the USA has previously been directed at creating NetJet programmes in association with local joint venture partners.
Zimex will continue to perform light maintainance on the Netjets business aircraft fleet, which is set to increase over the next few years with the introduction of 12 Dassault Falcon 2000 and 24 Raytheon Hawker 800XP business jets to the European programme.
Source: Flight International
