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Diamond's New Majority Owner Emphasizes D-JET

Diamond Aircraft’s D-JET, whose development appears to be secure now with the major investment of Medrar Financial Group.

November 15, 2011 – Medrar Financial Group of Dubai, UAE, has acquired a controlling interest of Diamond Aircraft Holdings Canada, and continuing development of Diamond’s D-JET program was stressed in this week’s unexpected announcement made at the Dubai Airshow 2011.

“The current state of the economy highlights the need and potential for aircrafts like the D-JET,” said Jamil Marmarchi, Medrar CEO. “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,” he said.

“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.”

Calling Medrar a “capable partner,” Diamond Group chairman Christian Dries commented, “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.”

Marmarchi also emphasized Diamond’s piston aircraft - the DA20, DA40 series, DA42 twin, and DA50 Magnum - as well-positioned to take advantage of growth in the flight training industry given the forecasted large future demand for pilots worldwide. Since 1981, Diamond Aircraft has delivered more than 4,000 aircraft and has production facilities in Canada, Austria, and China.

The Dubai Airshow runs through Thursday, November 17.


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