Eurojet Romania set to increase revenues in 2010
According to Grabar, Eurojet Romania, which employs 30 people in Romania and another 21 worldwide, is currently focused on upgrading its fleet in line with the demand. The company has recently added a new Cessna Citation XLS aircraft and is under negotiations to acquire a heavy jet Challenger 605 by the end of summer. The current fleet owned by Eurojet includes a Challenger 604, a Citation Excel and two Citation Encore aircraft. “We intend to develop a fleet of six to eight aircraft, which will be 50 per cent managed and 50 per cent owned by Eurojet, including three medium and three heavy jets in the next three years,” Grabar said.
The general manager anticipates an increased demand for the company’s larger aircraft this year, as the “industry forecasts for 2010 show a five per cent increase in client demand in Europe, as compared to 2009. We will not keep the small aircraft, as they are not profitable in the Romanian market,” explained Grabar. Rather, the general manager foresees larger growth for his company in the area of aircraft management.
Eurojet is aiming for a significant increase in turnover this year: “Eurojet’s 2009 turnover was around seven million Euro, with three million Euro investment. In 2010, we target a turnover of 10 million Euro and one million Euro investment,” stated the general manager.
Aiding this expansion has been Eurojet’s merger with one a leading aviation company, Avolus Ltd. “In 2009, Eurojet made a very significant move merging with London-based Avolus Ltd., to form the Avolus Group BV. This has enabled Eurojet to benefit from increased international exposure under new management. Moreover, the merger will help realize plans to expand and standardize the fleet, starting with the new Cessna Citation XLS acquisition,” the general manager added. The merger with Avolus was a strategic move by Eurojet, which managed to secure for itself a fortunate position despite the economic crisis, while many of its competitors are struggling.
Grabar emphasized the merger allowed a valuable improvement in systems integration, adding that his own primary goal and success would be making Eurojet one of Europe’s leaders within its market segment.
The general manager anticipates an increased demand for the company’s larger aircraft this year, as the “industry forecasts for 2010 show a five per cent increase in client demand in Europe, as compared to 2009. We will not keep the small aircraft, as they are not profitable in the Romanian market,” explained Grabar. Rather, the general manager foresees larger growth for his company in the area of aircraft management.
Eurojet is aiming for a significant increase in turnover this year: “Eurojet’s 2009 turnover was around seven million Euro, with three million Euro investment. In 2010, we target a turnover of 10 million Euro and one million Euro investment,” stated the general manager.
Aiding this expansion has been Eurojet’s merger with one a leading aviation company, Avolus Ltd. “In 2009, Eurojet made a very significant move merging with London-based Avolus Ltd., to form the Avolus Group BV. This has enabled Eurojet to benefit from increased international exposure under new management. Moreover, the merger will help realize plans to expand and standardize the fleet, starting with the new Cessna Citation XLS acquisition,” the general manager added. The merger with Avolus was a strategic move by Eurojet, which managed to secure for itself a fortunate position despite the economic crisis, while many of its competitors are struggling.
Grabar emphasized the merger allowed a valuable improvement in systems integration, adding that his own primary goal and success would be making Eurojet one of Europe’s leaders within its market segment.
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