Monaco helicopter company bought by French.

Founded by the Casiraghi family and based in Monaco, Monacair hasn't had its own fleet for a couple of years. The helicopter company's main business is in charter flights and ground services, but Gilbert Schweitzer, the CEO of new owners SkyGroup Holding has promised to rebuild the fleet, increase the workforce and attract VIP customers.

SkyGroup currently has around 20 helicopters operating between Paris, Geneva and St Tropez. It's subsidiary companies SkyCam, SkyAzur, and Sky Maintenance Services together have a turnover of around 7 million euros. In buying Monacair, the group intends to invest 15 million euros in 3 new helicopters, as well as to add a few more heads to the 12 current workers. However the most important job for now is to improve Monacair's image to attract the VIP clients.

Owner of Heli Air Monaco, Jacques Crovetto is not happy that a foreign carrier has bought into the Monaco market. He claims VIP customers represent 5% of his business.

Monacair changes hands and courts VIP clients

Monacair is trying to take our clients...