Abelag is weighing up investment opportunities after attracting the financial backing of a Belgian private equity fund which has become a majority shareholder. Deputy ceo Herve Laitat says: "We set ourselves the goal of finding a suitable financial backer that could support us as we further develop and expand the company and are pleased to announce that the Sofindev fund has bought a majority stake."

He adds: "Our new partner is very supportive, both in terms of the proposed strategic expansion and in fostering and retaining the expertise of the existing management and workforce."

Sofindev, he says, was impressed by Abelag's good financial track record, including its group turnover growth from e25 million in 2003 to e50 million in 2006. "We want to build on and further this growth and believed it was timely to bring a partner on board that was in a position to provide the investment as and when it was needed."

Abelag is still drawing up a detailed strategic expansion plan but more acquisitions of longer range aircraft and further development of its FBO facilities are among the possible considerations. But Abelag is giving priority to consolidating. "There are already 18 aircraft in the fleet," Laitat says. "We took delivery of a Citation CJ2 in February, a Citation Bravo and a Citation CJ3 at the end of August. Many of our clients have shown a lot of empathy with the Citation Jet series and we regard our modern additions as great tools to grow the business."

Abelag also added a second Falcon 2000EX EASy at the beginning of July. "This has vastly increased our options to service the needs of business executives in and around Europe."

Abelag's traditional market comprises France and the Benelux countries of Belgium, the Netherlands and Luxembourg. "It is a big home market," says Laitat. "However, there is obviously increasing demand throughout Europe which we are well poised to serve. We are finding that France, Germany and the U.K. are among our growing markets. Brokers have become aware of the fleet additions, such as the second EASy, and that is generating more referrals from all around Europe."

Abelag has already built up a reputation for providing a "one-stop-shop" with two Part 145 maintenance facilities in Brussels and Kortrijk-Wevelgem, bases in Brussels, Antwerp and Lille and the provision of consultancy and aircraft management expertise. It has also introduced a jet card that is attracting new business.

"We will be looking at adding further depth to our services but it will take time to finalise the plans and select the best value for investment and expansion," says Laitat.