AirX Charter (AX, Malta International) is reportedly close to finalising a new USD250 million investment deal with Searchlight Capital Partners, which will see the New York-based private equity fund take a 25% stake in the operator, Sky News has reported.
While refusing to comment on the article, chairman and co-founder John Matthews told ch-aviation that "the plan is to grow to 110 aircraft within five years and we already have multiple acquisition discussions underway with regards to industry consolidation".
AirX Charter currently operates 17 aircraft, including one A340-300, one B737-700(BBJ), seven Challenger 850s, three Legacy 600s, and five Lineage 1000s. Chief executive Friedrich Baldinger recently revealed fleet growth plans in an interview with ch-aviation. The airline owns all of its aircraft - a factor it considers crucial to its business model.
The company is owned by Air X Charter Holding Limited, another Maltese entity, which has a 46.8% stake, executives Friedrich Baldinger and Bernhard Wallner (each with a 27.3% stake), and Matthews with a single share. The parent holding is, in turn, majority-controlled by Matthews, who holds a 59.6% stake.
Searchlight Capital Partners does not have any aviation companies in its current portfolio.
