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Paragon Aviation deal takes Luxaviation to 140 FBOs

Luxaviation Group, one of the largest business aircraft and helicopter operators worldwide headquartered in Luxembourg, this week announced the acquisition of Paragon Aviation Group, a leading network of FBOs and international handling agents, creating a global FBO network of over 140 locations. Following the recent acquisition of Sky Valet, which integrated 17 Fixed Base Operations (FBOs) into its ExecuJet brand, Luxaviation has now completed the full acquisition of Paragon Aviation Group. Since its founding in 2011, Paragon Aviation Group has undergone substantial network expansion, operational enhancements, and customer relationship strengthening, fortifying its position as a key player in the industry. In 2017, Luxaviation Group forged a strategic partnership with Paragon Aviation Group. Crystal Kubeczka, who will be appointed as the new President of Paragon Aviation Group effective June 1, 2024, stated, “The Paragon team is committed to ensuring a seamless transition while upholding the high standards of service our clients expect. I am confident that the new leadership will continue to drive the company's success. www.luxaviation.com

 

The next five years of the business aircraft market - simplified

Global Jet Capital, a global leader in financial solutions for business aircraft, released its annual Business Jet Market Forecast. The level of detail in the report is based on outputs generated by Global Jet Capital’s proprietary transaction forecast model.

“Following two years of decline, the business jet market is expected to grow again in 2024. New deliveries should increase to serve the large backlogs OEMs have accumulated over the past two years, while the pre-owned market is now back to more normal levels. Overall, transactions are expected to increase 5.3 percent in 2024 and dollar volume should increase 10.7 percent. Over the next five years, transactions are expected to increase at an average annual rate of 3.6 percent, while dollar volume should increase at a rate of 4.4 percent over the same period,” Andrew Farrant, Chief Marketing Officer, stated.

Based on its econometric top-down model, Global Jet Capital projects $193 billion in total transaction volume of new and pre-owned transactions between 2024 and 2028, with a compound annual growth rate of 4.4 percent during that time.

In the report, the company forecasts that deliveries of all size categories will increase during the period, but heavy long-range jet demand should increase at faster rates than other sizes. North America is expected to remain the largest business jet market over the next five years, with Europe remaining the second largest market. www.globaljetcapital.com

 

UK trials ‘un-jammable’ quantum-based navigation systems

The UK has completed commercial flight trials of advanced quantum-based navigation systems designed to resist jamming or spoofing by hostile actors, according to a press release. Infleqtion, a quantum technology firm, partnered with aerospace companies BAE Systems and QinetiQ for these trials at MoD Boscombe Down in Wiltshire, with UK's Science Minister Andrew Griffith aboard the final test flight.

The group led by Infleqtion has shown two advanced quantum technologies in a series of test flights: a tightly contained ultra-cold-atom-based quantum system and a small Tiqker optical atomic clock. The systems were tested using QinetiQ’s modified RJ100 Airborne Technology Demonstrator. This technology is part of a Quantum Inertial Navigation System (Q-INS). These trials demonstrate the potential of quantum navigation systems to provide next-generation accuracy and resilience independent of satellite signals. www.infleqtion.com

 

People: Kenton Jarvis, EasyJet's next CEO

Victor CEOs Toby Edwards (left) and James Farley (right)

The Board of easyJet recently announced an orderly succession plan for its Chief Executive, Johan Lundgren. Johan Lundgren will step down as Chief Executive and leave easyJet early in 2025 having then served seven years as CEO. At that time Kenton Jarvis will succeed Johan and become the easyJet CEO. Kenton joined easyJet in February 2021, serving as a Board member and Chief Financial Officer since then. He will continue in the role of CFO during the transition period and a search for his successor will commence shortly.

Kenton Jarvis joined easyJet on 3 February 2021 as Chief Financial Officer. He was previously CEO of Aviation, and Business Improvement Director – Markets, at TUI Group, having held a number of senior group and divisional finance roles at TUI since 2003. Before joining TUI, Kenton was the Finance Director of Airtours Holidays and held a number of commercial finance roles at Adidas, prior to which he qualified as a chartered accountant with PwC.

Jarvis, 56, grew up in Essex, southeast England, and graduated from Manchester University with a Bachelor of Science in biochemistry in 1988. He has two daughters and enjoys golfing and travel in his spare time. www.easyjet.com

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