MANAMA: Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of Bahrain, yesterday announced its investment in a significant minority stake in Axtmann Aviation Holding GmbH that operates FAI Aviation Group (FAI).
FAI is a leading global provider of mission-critical aviation services, offering fixed-wing air ambulance, special missions, charter and aircraft management, as well as full MRO services.
Founded in 1986, FAI operates from its base in Albrecht Dürer International airport in Nuremberg, Germany. With more than 30 years of experience in business aviation, FAI is one of the largest private aviation operators in Europe.
A market leader in intercontinental air ambulance patient transport, FAI offers continuous worldwide air ambulance services staffed with qualified medical personnel and state-of-the-art medical technology. Its aircrafts fly an average 12,000 flight hours annually and its customers include international insurance providers, the United Nations, International SOS, the World Food Programme and prominent health authorities in the wider GCC region.
“It has perhaps never been as important as it is today to support rapid aviation response to crisis situations. Over the last 30 years, FAI has significantly grown its capabilities and service offerings, establishing stable and lasting relationships across a diverse set of customers, helping critical aid services reach people across the world,” Mumtalakat chief executive Mahmood Al Kooheji said.
Mahmood Al Kooheji
“This investment is aligned with our objective to invest in companies with strong track records of growth and experienced management teams. Aviation is a key component of our portfolio and we aim to leverage our sector knowledge and expertise to add value to the company and support its potential expansion into the wider GCC region,” he added.
FAI chairman Siegfried Axtmann said: “We are pleased that our specialised expertise in aviation services is globally recognised and delighted about the opportunity to co-operate with a powerful partner such as Mumtalakat. Together we will expand FAI as the leading player in the sector and increase our share in the general aviation market in the Middle East, adding value to the corporate and humanitarian sectors alike. Safety, efficient delivery and environmental protection are at the heart of our business.”
The transaction is subject to approval by Cypriot and German merger control authorities.
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