10 Dhu al-Qi'dah 1445 - 18 May 2024
Sign up for newsletter
Eye of Dubai
Business & Money | Saturday 11 November, 2023 4:29 am |

EDGE acquires 50% stake in Flaris, marking strategic expansion into aviation technology

The UAE’s EDGE Group, one of the world’s leading advanced technology and defence groups, has announced the acquisition of a 50 percent 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.

This strategic investment seamlessly integrates into EDGE’s expanding portfolio and aligns with EDGE’s vision to bring innovative commercial technologies to the forefront of the defence industry. Flaris, 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 EDGE’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 and CEO of EDGE Group, said, “Incorporating Flaris’ engineering capabilities and a 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.”

Rafał Ładziński, CEO of Flaris, stated, “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.”

Through this strategic acquisition, EDGE reaffirms its position as a revolutionary leader in bolstering the UAE’s defence and autonomous capabilities. The company remains committed to investing in next-generation technology, enhancing the country's manufacturing ecosystem, and driving economic diversification in line with UAE’s Vision.

EDGE will use its presence at the upcoming Dubai Airshow 2023, from 13th to 17th November, to showcase Flaris’ aircraft and solutions.



Source: wam

Post Your Comment