With their entry into Luxaviation's subsidiary, Starspeed, the "Monegasques" are gaining a foothold in the UK. Photo: Luxaviation

With their entry into Luxaviation's subsidiary, Starspeed, the "Monegasques" are gaining a foothold in the UK. Photo: Luxaviation

Luxaviation announced that Eola, which provides helicopter services in Monaco and France through Monacair and Héli Sécurité, had acquired a stake in its British subsidiary Starspeed on Tuesday. Behind this company are the Agnelli heir, John Elkann, and three of Princess Caroline of Monaco’s children.

“The growing demand for business travel, particularly by helicopter, is largely driven by travellers looking for a safe and efficient way to minimise time-consuming journeys between destinations. We are proud to announce the entry of Eola into the ownership structure of Starspeed Ltd, which will undoubtedly enable both companies to continue to provide the highest level of quality and customer-focused service in helicopter travel and management. Thanks to the extensive experience of the Luxaviation Group and Starspeed, and the Eola Group’s skilful expertise in highly secure flights, we aim to place helicopters at the forefront of business travel in Europe and worldwide.”

The statement issued by Luxaviation CEO  on Tuesday 30 January is a model of modesty. Not only does it not say exactly what stake 3 Monaco royals are taking in Starspeed, or even the amount of the investment, but the text does not say who is behind this transaction either. A quick diversions to Companies House doesn’t tell us much either for the moment.

Even the traditional phrase from an investor, a staple of press releases, has become “a representative for the Eola Group indicates”, its joy at setting foot in the UK to continue to expand geographically and also to expand its range of management services on behalf of owners.

But who is behind this deal is what makes it special: John Elkann, grandson of Gianni Agnelli, at the head of the industrial empire that includes Ferrari, Stellantis, CHN industrial, Louboutin, Institut Mérieux and Juventus Turin, on the one hand, and three of Princess Caroline of Monaco’s children on the other, mainly Marco Casiraghi.

Starspeed, a subsidiary of the Luxaviation group, is a leader in helicopter management for third parties in the UK; the company also provides passenger transport with its service to the Isles of Scilly from Penzance and offers training for qualified helicopter pilots. Patrick Hansen and Luxaviation took control of the company in 2017, and the latest available balance sheet showed turnover of €27.9 million. In 2018, the 90-strong company celebrated its fortieth anniversary, working in more than 60 countries, two-thirds of them in the UK and 10% in the US.

Originally published in French by and translated for Delano