AirX, one of the UK’s leading private jet charter companies, is on the brink of securing its first external investment deal worth $250m (£192.7m). The investment will involve the former owner of Hunter Boot, Searchlight Capital Partners, acquiring a 25% stake in the company.
Founded in 2011 by CEO John Matthews, AirX has quickly become one of the largest private jet charter businesses in Europe, competing with established names such as NetJets and VistaJet. With plans to expand its fleet to 110 aircraft in the next five years, AirX is poised to take advantage of the growing demand for private aviation services among the ultra-wealthy.
Headquartered in Malta, AirX currently employs approximately 400 people and stands out from its competitors by owning its own aircraft. Under the leadership of Mr. Matthews, the company has seen impressive growth, with annual sales of around £150m and earnings before interest, tax, depreciation and amortisation (EBITDA) approaching £30m.
Sources close to the deal revealed that Mr. Matthews has been in discussions with potential private equity partners for some time. Neither AirX nor Searchlight were available for comment at the time of writing.
This news comes amidst a surge in demand in the housing market and a push for mergers among housebuilders, highlighting the resilience of the UK economy. With this significant investment, AirX is well-positioned to continue its impressive growth trajectory and solidify its position as a leader in the private jet charter industry.
