Mumtalakat buys stake in FAI Aviation

Manama : Bahrain Mumtalakat Holding Company, the sovereign wealth fund of the Kingdom, has acquired a significant minority stake in Axtmann Aviation Holding GmbH that operates FAI Aviation Group (FAI), a statement said. 

The transaction is subject to approval by Cypriot and German Merger Control Authorities.

Explaining Mumtalakat’s interest in the investment, Mahmood H. Alkooheji, Mumtalakat’s Chief Executive Officer, said, “It has perhaps never been as important as it is today to support rapid aviation response to crisis situations.”

“Aviation is a key component of our portfolio and we aim to leverage our sector knowledge and expertise to add value to the company and support its potential expansion into the wider GCC region,” he added. 

Commenting on the move, FAI’s Chairman, Siegfried Axtmann, added, “Together we will expand FAI as the leading player in the sector and increase our share in the General Aviation Market in the Middle East, adding value to the corporate and humanitarian sectors alike.”

FAI is a global provider of mission-critical aviation services, offering fixed-wing air ambulance, special missions, charter and aircraft management, as well as full MRO services. Founded in 1986, FAI operates from its base in Albrecht Dürer International airport in Nuremberg, Germany.  With 23 aircraft, FAI serves corporations, government agencies and NGOs including the UN and International Committee of the Red Cross.