ExecuJet Aviation Group Acquires Germany's Jet Connection and Announces New CEO Jet Connection

Frankfurt, Germany ExecuJet Aviation Group, the global business aviation company and one of Europes leading aircraft sales and charter organisations, has acquired Frankfurt-based Jet Connection Businessflight AG, it was announced today.

Frankfurt, Germany September 3, 2004 -- ExecuJet Aviation Group, the global business aviation company and one of Europes leading aircraft sales and charter organisations, has acquired Frankfurt-based Jet Connection Businessflight AG, it was announced today.

Founded in 1997 by entrepreneur Rainer Wenz, Jet Connection has established itself as one of Germanys premier air charter companies.

The acquisition of Jet Connection represents phase one of ExecuJets European business review and expansion, and is a key cornerstone in the creation of ExecuJet Germany says Peter Smales, Managing Director of ExecuJet Europe. Jet Connections commitment to best industry practice, its experienced team of charter, operations and technical professionals, and their access to a fleet of Bombardier business jets available for dedicated charter make the acquisition a natural ExecuJet match.

Furthermore, adds Smales, Jet Connection enjoys a strong reputatation in key northern and eastern European business aviation markets upon which ExecuJet is focused, and the companys facilities are very strategically located at Frankfurt Airport.

ExecuJet hinted at possible expansion plans during the European Business Aviation Convention and Exhibition (EBACE) held in Geneva during May this year, but at that stage was unable to offer details.

The acquisition ensures the immediate addition of two Bombardier Learjet 60 and one Bombardier Challenger 604 aircraft to ExecuJets European charter fleet. It also presents us with opportunities to redeploy selected existing aircraft to better satisfy demand across the continent, Smales continued.

The business will trade under the direct supervision and guidance of the companys existing management team as an independent operating unit under the management umbrella of ExecuJet Europe. Rainer Wenz will move onto the companys Advisory Board and remain intimately involved in the management of the company in cooperation with ExecuJet during an agreed period of transition.

In a related announcement, ExecuJet is pleased to announce the appointment of Jet Connections Chief Operating Officer, Georg Biesing, to the position of Chief Executive Officer. Georg has been with Jet Connection since the company was founded in 1997, initially as Managing Director of Jet Connection Travel and thereafter heading up the companys day-to-day operations.
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