FAI is a leading provider of mission-critical aviation services, based in Germany
With 23 aircraft, FAI serves corporations, government agencies and NGOs including the UN and International Committee of the Red Cross
Manama, Kingdom of Bahrain, 4th May 2017
Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, announced today its investment in a significant minority stake in Axtmann Aviation Holding GmbH that operates FAI Aviation Group (FAI), 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 over 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.
Commenting on this latest investment by the sovereign wealth fund, Mahmood H. Alkooheji, Mumtalakat’s Chief Executive Officer, said, “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.”
Further explaining Mumtalakat’s interest, he noted, “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.”
FAI’s Chairman, Siegfried Axtmann, added, “We are pleased that our specialized expertise in aviation services is globally recognized and delighted about the opportunity to cooperate 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.
About FAI Aviation Group
FAI Group operates Germany’s largest fleet of business jets that includes Bombardier Global Express, Bombardier Challenger 604 and Bombardier Learjet aircraft. Headquartered at Albrecht Dürer International Airport in Nuremberg, Germany, FAI runs a 14,000 m² carbon neutral FBO. FAI employs 190 people amongst its staff, including 60 mechanics and engineers at FAI´s in house MRO in addition to part time physicians and paramedics. FAI operates satellite offices in Dubai and Miami, as well as line stations in Bamako and Dakar.
Further details on the FAI Aviation Group can be found at https://www.fai.ag
Mumtalakat, the Bahrain Mumtalakat Holding Company, is the sovereign wealth fund of the Kingdom of Bahrain. With a mandate to grow the wealth of Bahrain through long-term investments based on sound financial, strategic and governance principles, Mumtalakat holds stakes in over 40 commercial enterprises with a portfolio spanning a variety of sectors, including industrial manufacturing, financial services, telecommunications, real estate, logistics, consumer products and education.
Further details on Mumtalakat can be found at www.bmhc.bh
© Press Release 2017
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