TMCnet News
NetJets Europe: Netjets Europe Signs Agreement To Acquire Egelsbach Airport; Completion pending approval of full shareholder parliaments in March 2009; Pledges to exclude airliners and other large aircraft(M2 PressWIRE Via Acquire Media NewsEdge) RDATE:03022009 Europe's leading business aviation company, NetJets Europe, today confirmed that it has signed an agreement with shareholders of Hessische Flugplatz GmbH Egelsbach ("HFG"), the operator of Frankfurt Egelsbach airport in Germany, to acquire the company. The agreement is subject to approval by the municipal parliaments of each shareholder at meetings to be held in March 2009. If ultimately approved, the acquisition would be the first of its kind for NetJets. It would increase the company's presence in a major financial market within Germany while providing its customers with access to an alternative airport to Frankfurt Main which is dominated by scheduled airlines. NetJets expects to bring significant economic benefits to Egelsbach and the Frankfurt Rhine Main Region including jobs at the airfields as well as within the service and airport development sectors. Additionally, more than EUR100 million of previously announced commercial property development near the airport is contingent on Egelsbach's evolution into a sophisticated business airport. In connection with the proposed acquisition, NetJets agreed a series of operating conditions with the shareholders for the comfort and benefit of the communities surrounding the airport. Such conditions include the observance of current air traffic movement limitations, maintaining current airport operating hours and the banning of airliners and scheduled flights from the airport. In consideration, the municipality shareholders agreed to support NetJets development of Frankfurt Egelsbach airport into a modern business aviation centre serving general aviation and NetJets fleet of 6 to 14 seat passenger jets. William Kelly, NetJets Europe CEO said: "We are in a unique position to invest in airfield improvements without needing to increase flight movement capacity. Unlike most airport operators, the NetJets business model is not dependent on increasing traffic numbers. The proposed acquisition demonstrates our willingness to invest for the benefit of our fractional owners while providing a service for other business aviation customers seeking to do business in the Frankfurt Rhine Main Region. We are committed to being a good neighbour and local partner to Egelsbach and the surrounding communities. We are actively engaging in extensive consultation with local business, civic and environmental leaders to ensure that local concerns are addressed." For more information or imagery please contact: Notes to editors: About NetJets Europe NetJets Europe was founded in 1996 and today is the largest business jet company in Europe. As the only pan-European operator with its own fleet, NetJets Europe, through NetJets Transportes Aereos (NTA), is uniquely capable of delivering a consistent, world-class service with an unparalleled commitment to safety and security. NTA was the first business jet operator to be awarded the IOSA certificate - the highest safety accreditation in the world. In 2007, the NetJets Europe Fleet flew more than 73,000 flights to 136 countries. NetJets Europe employs a total workforce of more than 1,850 and has 160 aircraft. NetJets Europe is the marketing agent of NetJets Transportes Aereos S.A., an EU air Carrier. Additional information: NetJets Europe and Germany: Flights to or from Germany account for about 12 per cent of NetJets flight traffic NetJets Europe currently has just over 100 German customers; about 20 per cent of these are part of the DAX. NetJets Europe employs 1850 employees including 1100 pilots and cabin crew across Europe. Crew members can choose to live in 44 gateway cities across Europe. Ten percent of NetJets crew members live in one of the seven gateway cities that are located in Germany (Berlin, Cologne, Dusseldorf, Frankfurt, Hamburg, Munich and Stuttgart). NetJets Europe also works closely with a number of locally based maintenance companies to maintain its fleet: Jet Aviation GmbH (Dusseldorf, Kassel, Saarbrucken and Hannover), Beechcraft (Augsburg) and Nayak (Cologne). Jet Aviation GmbH is NetJets' main partner in the region, accounting for between eight to ten per cent of NetJets Europe's total aircraft maintenance work. This is a significant contribution to the German aviation industry and is about the same number of maintenance hours completed by NetJets Europe's own in-house maintenance facility based in London. CONTACT: Armand David / Tom Rutteman, NetJets Europe Tel: +44 (0)20 7592 1200 e-mail: [email protected] Anna McMahon, NetJets Europe Tel: +44 (0)20 7361 9555 e-mail: [email protected] Brands2Life Tel: +44 (0)20 7592 1200 Tel: +44 (0)7801 562 252 Fax: +44 (0)20 7592 1201 WWW: http://www.brands2life.com ((M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to [email protected])). Copyright ? 2009 M2 Communications Ltd. |