Excel Airways (London Gatwick) parent XL Leisure Group has been sold by Icelandic investor Avion Group to a new investment company led by CEO Philip Wyatt as part of a management buy-out. XL Leisure Group also includes Star Airlines (France) (SE/Paris CDG) and Star XL German Airlines (GXL/Frankfurt). Excel Airways has now been rebranded as XL Airways UK, Star Airlines as XL Airways France and Star XL as XL Airways Germany.