Malta’s AirX Secures $136M Bond to Expand Fleet
Malta-based AirX Charter has raised EUR115 million (USD136 million) through a secured bond issue arranged under Nordic documentation and managed by Norway’s Arctic Securities. The operator said the proceeds will finance the addition of more than 30 aircraft, significantly boosting its fleet over the next three to five years.
Jack Roberts, head of marketing at AirX, told ch-aviation that the company aims to grow its European fleet to 50 aircraft, focusing on acquisitions in the heavy jet and VIP airliner segments to meet rising demand for premium charter services.
AirX currently operates 19 aircraft, including eight Challenger 850s, four Legacy 600s, five Lineage 1000s, a Boeing 737-700(BBJ), and an Airbus A340-300 configured with 100 seats. The fleet expansion will position AirX among Europe’s largest operators in the VIP and business aviation sector.
According to the company, the bond issue was “significantly oversubscribed,” with the asset-backed securities registered in both Frankfurt and the Nordic region. The funding follows a USD35 million Series A round in late 2024, which financed the purchase of four aircraft. At that time, CEO John Matthews said a larger Series B round was planned to fund at least 20 additional aircraft.
This latest financing round underscores AirX’s aggressive growth strategy in the premium charter market. By expanding its fleet with larger, long-range aircraft, the company aims to capture a bigger share of Europe’s booming VIP and business aviation sector while offering enhanced capacity and service options to its clientele.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com