Medrar Financial Group will acquire a majority interest in Diamond Aircraft Holdings, Canada. In addition to a range of Diamond Aircraft’s piston aircraft, the agreement also includes the company’s D-JET program (pictured below).
“The current state of the economy highlights the need and potential for aircrafts like the D-JET,” said Jamil Marmarchi, CEO of Medrar. “People will always continue to travel and in the short to medium distance range, the D-JET offers a luxurious and affordable, yet socially and environmentally responsible alternative way to fly privately. Diamond has successfully demonstrated its ability to leverage its designs and technology to create entire product lines for the piston airplane market – we are excited not only by the D-JET but also by the derivative models to follow.”
“We are equally bullish about the future potential of the piston aircraft, especially in support of professional flight training, where we expect international pilot demands to drive a sustainable market for training aircrafts in the long term and maintain our leadership position,” continued Marmarchi. “As a specialized asset management and investment firm based in Dubai UAE, Medrar will ensure the company’s capital needs are met and Diamond continues to lead the industry with emphasis on enhancing the D-JET market status.”
“Diamond has grown tremendously over the last decade and it will greatly strengthen our worldwide position to have a capable partner supporting our future growth and our existing business,” said Christian Dries, chairman of the Diamond Group. “We are pleased that Medrar has demonstrated their recognition of this potential with their significant commitment.”