Leaner PrivatAir set for Middle East expansion | Aviation International News

Charter & Fractional

Leaner PrivatAir set for Middle East expansion

Geneva-based PrivatAir has gone through a restructuring aimed at making it a leaner, but still profitable company ready to embark on expansion in the Middl

By Thomas Stocker

April 28, 2010

Geneva-based PrivatAir has gone through a restructuring aimed at making it a leaner, but still profitable company ready to embark on expansion in the Middle East. Formerly part of the Latsis Corp., the aircraft management and charter company was recently bought by a group of private investors, including long-time CEO Greg Thomas. Latsis, for its part, continues to maintain ownership of the C3 executive terminal that PrivatAir built on airport land at Geneva.

Currently, PrivatAir’s main business is comprised of wet leasing all-business-class single-aisle airliners equipped with long-range fuel tanks. This sector appears to have held firm during the recession thanks to long-term contracts it holds with airlines such as Lufthansa and Swiss. And, while its executive aircraft management business has slackened because owners are scaling down their operations, its PrivatPort FBO joint ground-handling venture with Swissport at Geneva continues to be viable as does its cabin crew training project, which started last year.

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