Today, SilverArrow Capital Group announced that it has acquired the majority share (51%) of PrivatAir.
PrivatAir is an international premium airline and leading business aviation group with headquarter in Geneva, Switzerland and operating offices in Duesseldorf, Germany and Lisbon, Portugal. It operates a wide-range of aircrafts ranging from Boeing 767, Boeing 757, BBJs to Airbus A319 and business jets for premium airlines like Lufthansa and SAS.
The company has been in operation for more than 40 years and currently employs over 400 people. PrivatAir is a comprehensive group with three divisions delivering service excellence both in the air and on the ground: scheduled services, business aviation (aircraft charter, aircraft sales and sourcing, aircraft management) and PrivatTraining. In addition, together with Swissport operates PrivatPort, a premium ground services company.
“We are very excited about the acquisition of these premium brands. PrivatAir and PrivatPort offer unlevered potential for profitable growth within a changing market,” said Thomas Limberger, CEO of SilverArrow Capital Group and new Chairman of PrivatAir.
“Having SilverArrow as a new shareholder, will lead the company into an era of new financial strength and growth,” said Antonio Gomes de Menezes, CEO of PrivatAir.
The airline was established in 1977 as a subsidiary of the Latsis Group. In 1995 it received its Swiss air operator’s certificate.
According to its website, the Swiss premium airline currently operates scheduled services for Saudia (Jeddah-Riyadh), Lufthansa (Frankfurt-Pune-Bucharest), Scandinavian Airlines (Copenhagen – Boston) and ECAir (Brazzaville – Paris, Brazzaville – Dubai and Brazaville – Bamako – Dakar).