Medrar Financial acquires interest in Diamond
Nov. 14, 2011, Dubai, U.A.E. - Medrar Financial Group and Diamond Aircraft Holdings have announced
today that an agreement has been signed for the acquisition of a majority interest of Diamond Aircraft Holdings, Canada.
In addition to a range of Diamond Aircraft's gasoline powered piston aircrafts, the agreement also includes the
revolutionary D-JET program.
The D-JET, an unprecedented concept that combines low acquisition and operating costs with practical performance
and a high level of luxury and comfort, is designed for simplicity of operation, safety and affordability.
“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.”
Christian Dries, Chairman of the Diamond Group commented, “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. We are pleased that Medrar has demonstrated their recognition of this potential with their significant
commitment. We look forward to working seamlessly together to develop the Diamond brand and enhance its value.”
“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 Aircraft will be exhibiting a range of their planes including a mock up of the new and exciting D-JET at the Dubai
Airshow 2011 at the Airport Expo from 13th – 17th November.