Aabar Investments buys stake in US aviation firm
Xojet joint venture to offer private aviation services in the region
Abu Dhabi investment fund Aabar Investments is to buy $20m worth of shares in private US aviation firm Xojet, according to a statement issued by the UAE fund on 10 February.
Xojet offers private jet services to business and leisure travellers. Under the deal, Aabar and Xojet will form a UAE-based joint venture that will provide private aviation services to various destinations in the Middle East and North Africa.
The US firm has a fleet of more than 100 aircraft in service or on order, and currently offers services to more than 25,000 airports across five continents.
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