Lux aviation buying Execujet?
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Lux aviation buying Execujet?
Somebody told me this morning that Lux is buying Execujet. Is that true? Anybody knows more about this? 
I would have thought that it would make more sense if Execujet buys Lux
I would have thought that it would make more sense if Execujet buys Lux
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This is a persistent rumour that I have heard through my channels too, but I find it hard to believe. ExecuJet have quite a few actual FBOs and maintenance facilities. Are Luxaviation buying these too? (if so, where did they get the $ from?)
Or are they just buying the MANCO?
Or are they just buying the MANCO?
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Are Luxaviation buying these too? (if so, where did they get the $ from?)
Luxaviation, assisted by Edison Structured Services SA, raised 10M EUR in May 2014 and 20M in December at the Luxembourg stock exchange:
https://www.bourse.lu/instrument/bon...&cdTypeVal=OBL
https://www.bourse.lu/instrument/bon...L&cdVal=217707
Interesting reading the two prospectus. They appear to be buying sound, established companies and have a business plan.
But why not mentioning Mr Hansen as the CEO of Luxaviation?
Edison Capital Partners - Biographies
Is Mr Bogachev still involved with Luxaviation?
https://www.bourse.lu/instrument/bon...&cdTypeVal=OBL
https://www.bourse.lu/instrument/bon...L&cdVal=217707
Interesting reading the two prospectus. They appear to be buying sound, established companies and have a business plan.
But why not mentioning Mr Hansen as the CEO of Luxaviation?
Edison Capital Partners - Biographies
Is Mr Bogachev still involved with Luxaviation?
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Thanks Global_Global, I saw that on that thread, I was unclear earlier - I don't think 30m euros is enough, and didn't they already spend some of that on other acquisitions e.g. LEA?
ExecuJet have about 90 aircraft. LEA have about 25 aircraft (AFAIK) and were bought for ~$15m if one of the posters in that thread is right, so that's $.6m / aircraft. But, 8-strong Legacy fleet notwithstanding, LEA have a lot of mustangs, Citations etc. whereas EJ has mostly heavy stuff like Globals and larger Gulfstreams. So, bearing in mind that EJ try to make at least $1m a year in gross revenue from all their aircraft (not always possible), and that heavier aircraft cost more to run, let's push that figure up a bit and say a bit less than ~$1m / aircraft should be about right.
Of course, all that revenue doesn't just come from management; it also comes from EJ FBOs, maintenance & completions, fuel, charter revenue, and before the JetCraft split, from aircraft sales.
Also, those other bits of EJ also make money, but I have no idea how much.
So, I would say $150-200m is a conservative figure. It may well be much more. Or, if their finances are in a state (I have no idea about this either), it could be much less...
(by comparison, there are also rumours that VistaJet is for sale, allegedly for $700m)
So if this rumour is true, the questions are:
- is EJ really worth that much?
- if not, why not?
- if yes, where is the $$$ coming from? 30m euros isn't going to cut it.
Make sense? Please correct me if you see holes in my logic / wrong facts!
ExecuJet have about 90 aircraft. LEA have about 25 aircraft (AFAIK) and were bought for ~$15m if one of the posters in that thread is right, so that's $.6m / aircraft. But, 8-strong Legacy fleet notwithstanding, LEA have a lot of mustangs, Citations etc. whereas EJ has mostly heavy stuff like Globals and larger Gulfstreams. So, bearing in mind that EJ try to make at least $1m a year in gross revenue from all their aircraft (not always possible), and that heavier aircraft cost more to run, let's push that figure up a bit and say a bit less than ~$1m / aircraft should be about right.
Of course, all that revenue doesn't just come from management; it also comes from EJ FBOs, maintenance & completions, fuel, charter revenue, and before the JetCraft split, from aircraft sales.
Also, those other bits of EJ also make money, but I have no idea how much.
So, I would say $150-200m is a conservative figure. It may well be much more. Or, if their finances are in a state (I have no idea about this either), it could be much less...
(by comparison, there are also rumours that VistaJet is for sale, allegedly for $700m)
So if this rumour is true, the questions are:
- is EJ really worth that much?
- if not, why not?
- if yes, where is the $$$ coming from? 30m euros isn't going to cut it.
Make sense? Please correct me if you see holes in my logic / wrong facts!
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I would think that profit and turn over are the most likely drivers to come up with a price. A Mustang that is flying full out on charter can be more profitable than a bad management contract on a Global (and vice versa) I think so to look at the number of aircraft is probably not the best way to look at it. 
Regarding Vista: Exclusive: VistaJet in talks with banks on possible $900 million sale - sources | Reuters So only $900.000.000
Regarding Vista: Exclusive: VistaJet in talks with banks on possible $900 million sale - sources | Reuters So only $900.000.000
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Think people need to revise their estimates:
EXECUJET (UK) LIMITED. Free business summary taken from official Companies House information. Free Alerts. Registered as 05080620
Whilst it's only one part of the company, that's still quite a large sum of money to absorb!
EXECUJET (UK) LIMITED. Free business summary taken from official Companies House information. Free Alerts. Registered as 05080620
Whilst it's only one part of the company, that's still quite a large sum of money to absorb!
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Crikey. No wonder most of the management of that bit of EJ have left or migrated to different parts of the company.
(by the way, I have little idea about FBO economics, but who thought opening a large full-service FBO at CBG was a good idea, with its typical ~3-5 bizjet movements a day?)
(by the way, I have little idea about FBO economics, but who thought opening a large full-service FBO at CBG was a good idea, with its typical ~3-5 bizjet movements a day?)
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Booglebox
(by the way, I have little idea about FBO economics, but who thought opening a large full-service FBO at CBG was a good idea, with its typical ~3-5 bizjet movements a day?)
(by the way, I have little idea about FBO economics, but who thought opening a large full-service FBO at CBG was a good idea, with its typical ~3-5 bizjet movements a day?)
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Well if Luxaviation have bought it, it just doesn't make sense with the quote from this article:
Luxaviation Plans Five-fold Fleet Growth Through Company Acquisitions - BAVIATION Business Aviation News
“We are always on the lookout to buy financially sound operators,”
Luxaviation Plans Five-fold Fleet Growth Through Company Acquisitions - BAVIATION Business Aviation News
“We are always on the lookout to buy financially sound operators,”
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OK let the bets be on: announcement at EBACE? 
Will be a nice culture clash.. I always rated Execujet much higher than the companies that they bought so far...
Was Execujet profitable?
Will be a nice culture clash.. I always rated Execujet much higher than the companies that they bought so far...
Was Execujet profitable?
Last edited by Global_Global; 13th Apr 2015 at 18:40.
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I can't see a major announcement being made at EBACE as all the folks in the know have been told to keep matters quiet for the moment.
The NAS Jet deal is also bubbling big time but LUX will watch and wait on this one especially given the Execujet sensitivities. Strategically the NAS deal might be a big winner for LUX but is highly dependent on what operational agreements can be put in place beforehand.
Goodness gracious - who's next in the line of fire?
The NAS Jet deal is also bubbling big time but LUX will watch and wait on this one especially given the Execujet sensitivities. Strategically the NAS deal might be a big winner for LUX but is highly dependent on what operational agreements can be put in place beforehand.
Goodness gracious - who's next in the line of fire?
