Aabar Investments agrees to private aviation joint venture

Updated: February 11, 2010

Aabar Investments Company has announced that it will be investing $20 million for shares in XOJET Inc, a US aviation company. The two companies will also be setting up a joint venture private aviation company in the United Arab Emirates (UAE).

XOJET is a private airline company that offers top-of-the-line private jet servers to businessmen and leisure travellers.

“Aabar and XOJET  are intending to join together to create a UAE based joint venture company that will provide first class private aviation services to various destinations within the MENA region,” explained Aabar in a press statement.

Abu Dhabi-based Aabar has already placed investments in selected areas of the aviation industry. It is even invested in London’s Gatwick Airport with an estimated 15 percent share in the total shares.

Leave a Reply

Your email address will not be published. Required fields are marked *