euroAtlantic Airways – Transportes Aereos S.A. (EAA), a leading Portuguese aircraft wet-leasing and charter company, has announced the appointment of Stewart Higginson as its new CEO and Chair. Higginson, known for his extensive experience in operational performance improvements, will be steering the company alongside a seasoned management team comprising Mário Alvim, Lourenço Gomes, and João Nunes.
This leadership overhaul is accompanied by a strategic investment from Njord I-Jet Aviation S.A.R.L, the controlling shareholder of EAA. The investment underscores Njord I-Jet’s confidence in euroAtlantic’s growth trajectory and its commitment to the company’s future success. The management’s immediate focus will be on enhancing performance and expanding the current fleet of five Boeing aircraft to cater to the rising demand for EAA’s acclaimed ACMI and charter services.
Higginson brings a wealth of expertise to euroAtlantic, having served as an Operating Partner with Njord Partners since 2015 and holding leadership positions in various sectors, including maritime and construction. His track record includes multiple accolades for his role in corporate turnarounds, notably the International Turnaround of the Year awards for DeepOcean and Solidal.
The new board members, Mário, Lourenço, and João, collectively boast over 40 years of experience at euroAtlantic and nearly a century in the aviation industry. Their diverse backgrounds, ranging from piloting to operations and airworthiness management, are set to complement the company’s ambitious growth plans.
Behind the scenes, Njord I-Jet’s parent company, Njord Partners LLP, manages assets worth over €1 billion and is renowned for its long-term investments and turnaround successes in the Western European middle-market. The firm’s active involvement in strategic and operational enhancements is poised to create value for euroAtlantic’s stakeholders and fortify its position in the competitive aviation sector.
Stewart Higginson, euroAtlantic CEO and Chair, commented: “I am delighted to be joining euroAtlantic, where I look forward to working with the new Board to drive the next phase of euroAtlantic’s growth and deliver a world-class ACMI and charter solutions business.”
Jakob Kjellberg, Co-Founder and Co-Portfolio Manager at Njord Partners, said: “We are excited about the future prospects of well capitalized EAA under new leadership. The Company couldn’t have anyone better than Stewart and the team to lead it through its ongoing transformation and deliver high quality, cost effective and flexible services to our valued customers. Stewart’s experience in optimising operations and performance is second-to-none and we know the business will thrive with him in this new role.”