EDGE acquires 50pc stake in Polish aviation company Flaris
ABU DHABI, November 11, 2023
UAE-based EDGE Group, a leading advanced technology and defence group, has announced the acquisition of a 50% stake in Flaris, a pioneering Polish aviation company specialising in the development of state-of-the-art personal jets.
The two companies will also establish a joint venture, enabling EDGE to further develop Flaris’ portfolio of jets, leveraging combined expertise to enhance the aircraft's features and operational capabilities.
The Emirati group said this strategic investment seamlessly integrates into its expanding portfolio, and aligns with the vision to bring innovative commercial technologies to the forefront of the defence industry.
The Polish aviation group, renowned for its Flaris LAR1 short take-off and landing (STOL) high speed personal jet, brings to EDGE a wealth of expertise in high-precision aerospace engineering, marking the group's expansion into this field.
The innovations resulting from this joint venture will be showcased at the upcoming Dubai Airshow 2023, specifically the conversion of Flaris manned aircraft into an unmanned model, leveraging autonomous technologies to meet the dynamic needs of modern defence.
Mansour AlMulla, Managing Director & CEO of EDGE Group, said: "Incorporating Flaris’ engineering capabilities and broad range of jets into our ecosystem is a strategic move for EDGE which will mark our expansion into jet engine manufacturing and advanced aviation technologies, and add significant value to our high-tech portfolio."
"We anticipate the opportunities this strategic investment and joint venture brings, particularly in transforming current aviation technologies into unmanned systems," he noted.
Flaris CEO Rafał Ładziński said: "Joining forces with EDGE marks a major milestone for Flaris and underscores our shared commitment to engineering excellence and innovation."
"Their planned developments, especially in autonomous flight and advanced engine technology, align perfectly with our mission of pushing the boundaries of what personal jets can achieve. Our combined expertise will undoubtedly pave the way for further advancements in the aerospace industry," he added.-TradeArabia News Service
