Former US Air CEO Takes Cockpit at XOJet.

Oct 6 (Reuters) – XOJet Inc, a private aviation company backed by buyout firm TPG Inc, on Monday named former US Airways Group Inc (LCC.N) head David Siegel as its chief executive.

Siegel, who was US Airways’ CEO from 2002 to 2004, will take over from Paul Touw, the company’s founder, who will become executive chairman, the company said in a statement.

In May, the San Carlos, California-based company said it had arranged $2.5 billion of financing to expand its fleet and better compete with rivals such as NetJets Inc, owned by Warren Buffett’s Berkshire Hathaway Inc.

(Reporting by Ajay Kamalakaran in Bangalore; Editing by Lincoln Feast)