Flexjet is an American provider of fractional ownership aircraft, leasing, and jet card services. Founded in 1995 as a division of Bombardier Aerospace, it is currently owned by Directional Aviation, an aviation private investment firm.
Flexjet is a provider of fractional jet ownership, leasing, and jet card services as well as private helicopter fractional, leasing and charter services. Directional Aviation, the private investment firm founded by aviation entrepreneur Kenn Ricci, has owned Flexjet since 2013.[2] Headquartered in Richmond Heights, Ohio, Flexjet is led by Ricci, its chairman, and by Michael J. Silvestro, its chief executive officer. Flexjet is one of the largest fractional private jet companies. The company serves over 2,100 clients.[3]
History
Founded in 1995, Flexjet entered the fractional jet ownership market as a division of Bombardier Aerospace, the world's largest business aviation manufacturer[4] and itself a division of Bombardier Inc.[5]
By 1998, doing business as Business Jet Solutions, Flexjet had 41 aircraft, including the Learjet 31A, Learjet 45, Learjet 60, and Challenger 600 series, serving more than 200 clients.[6]
At one time, Flexjet offered not only fractional ownership and jet card but also aircraft charter services. Flexjet entered the charter market in 2000 when Bombardier Aerospace acquired Skyjet, which pioneered the online booking of private jet charters. Under Bombardier, Skyjet became one of the first companies to offer a membership program; eventually, the program became the Skyjet Card.[7]
By 2002, Flexjet had seen 20 percent annual growth since its founding. It employed more than 1,000 people, half of them flight crew members and operated a fleet of 105 aircraft to serve 640 owners. At the time, Flexjet held an approximately one-sixth of the total fractional market, which then amounted to 650 aircraft and 3,500 owners.[1]
Flexjet saw its first substantial profit in 2006, with sales of fractional shares up 28 percent and revenue up 30 percent compared to 2005. It maintained the approximate 16 percent share of the fractional market it had enjoyed four years earlier. During this period, the company began expanding its range of aircraft, including the Learjet 40 and 45, 60, 60 XR, Challenger 300, Challenger 604, and Challenger 605.[citation needed]
In 2008, VistaJet acquired the firm's non-U.S. operations, then branded as Skyjet International. Subsequently, Flexjet consolidated the remaining domestic charter services under its own brand.[8]
In September 2013, private aviation investment firm Directional Aviation announced that it would acquire Flexjet from Bombardier for $185 million in cash.[2] At the same time, Flexjet placed orders with Bombardier for 85 jets valued at about $1.8 billion, with options for up to an additional 160 jets that could bring the contract's value to $5.2 billion.[9]
In 2014, Flexjet exited the charter market. As part of the first consolidation of its aviation companies, Directional Aviation moved the charter brokerage operations of its Flexjet and Sentient Jet companies to the Skyjet brand. Skyjet would concentrate solely on charter services, with Flexjet continuing to offer fractional programs and Sentient Jet offering jet card programs.[10] Flexjet offered three programs: fractional ownership, lease, and the Flexjet 25 Jet Card.
In 2015, Flexjet launched Red Label, an offering under which each aircraft has a dedicated flight crew, customized interiors, and customized seating configurations making up one of the industry's most modern fleet of aircraft.[11]
Flexjet also announced the launch of intra-European service in 2016, establishing the infrastructure for its offering initially through the acquisition of United Kingdom-based charter and management company Flairjet.[citation needed] More recently, OneSky acquired United Kingdom-headquartered PrivateFly, a digital booking service for private jet charter flights.[14] Flexjet also acquired an Air Operator Certificate (AOC) for and opened a new Malta Operational Centre in Sliema, continuing the expansion of its European operation.[15]
In late 2019, Flexjet announced its European operation would be led by Marine Eugène, former head of sales in Europe for NetJets.[16] Flexjet's European expansion continued with the opening of Flexjet House in London to serve as their European headquarters. In addition, a European Tactical Control Center to coordinate flight logistics and an aircraft maintenance facility were opened at Farnborough Airport in the United Kingdom.[17]
In 2021, Flexjet acquired two leading helicopter travel providers: U.K.-based Halo Aviation and U.S.-based Associated Aircraft Group.[18] The company added private helicopter leasing and charter services and formed a private helicopter division that sells fractional, lease and on-demand charter access to its fleet of owned and operated Sikorsky S-76 private helicopters serving locations throughout the Northeastern United States and Florida.[citation needed]
In 2022, Flexjet announced plans to hire 350 pilots in addition to its current total of 800 and add another 50 aircraft by the end of the year.[19]
In October 2022, Flexjet agreed to enter into an agreement to merge with Horizon Acquisition Corporation II (NYSE: HZON), a publicly traded special-purpose acquisition company (SPAC) led by Todd Boehly. Following completion of the merger, Flexjet would become a publicly traded company under the ticker symbol “FXJ.”[20][21][22] In April 2023, Flexjet announced the deal would be terminated.[23]
Flexjet has received awards and certifications for safety including the Federal Aviation Administration’s Diamond Award of Excellence for Aviation Maintenance, awarded to Flexjet in 2022 for the 23rd consecutive year.[24] Flexjet also has received the Aviation Research Group/US (ARG/US) Platinum Safety Rating since 2008.[25]
A business jet, private jet, or bizjet is a jet aircraft designed for transporting small groups of people, typically business executives and high-ranking associates. Business jets are generally designed for faster air travel and more personal comfort than commercial aircraft, and may be adapted for other roles, such as casualty evacuation or express parcel deliveries, and some are used by public bodies, government officials, VIPs, or even the military.
Learjet was a manufacturer of business jets for civilian and military use based in Wichita, Kansas, United States. Founded in the late 1950s by William Powell Lear as Swiss American Aviation Corporation, it became a subsidiary of Canadian Bombardier Aerospace in 1990, which marketed the company’s aircraft as the "Bombardier Learjet Family". The 3,000th Learjet was delivered in June 2017. The Learjet line was once sufficiently popular that the Learjet name became synonymous and interchangeable with the terms business jet or private jet in the popular vernacular. In February 2021, Bombardier announced the end of production for all new Learjet aircraft in 2021, with the continuation of support and maintenance for aircraft currently in service.
Aero-Dienst GmbH & Co. KG is a German charter airline operating business jet and air ambulance flights out of Nuremberg Airport.
FAI rent-a-jet is a German charter airline based in Nuremberg and operating out of Nuremberg Airport.
NetJets Inc. is an American company that sells fractional ownership shares in private business jets.
The Learjet Model 35 and Model 36 are a series of American multi-role business jets and military transport aircraft manufactured by Learjet between 1973 and 1993. When used by the United States Air Force, they carry the designation C-21A. Learjet was acquired by Bombardier Aviation in 1990 and is now a subsidiary, so the aircraft is also known as the Bombardier Learjet 35.
Fractional ownership of aircraft is an arrangement in which multiple owners share the use and costs of purchasing and operating an aircraft. Several management companies provide fractional ownership programs for aircraft, including NetJets, Flexjet, Cirrus Aviation Services, and AirSprint. Alternatively, owners can join together to purchase their aircraft, independently of any management company.
VistaJet is a global business aviation company founded in 2004 by Thomas Flohr. The firm flies between any two points, under a "pay for hours flown" fare structure.
PlaneSense is a fractional aircraft ownership program managed by PlaneSense, Inc. and based in Portsmouth, New Hampshire, United States. As of the beginning of 2020, they managed a civilian fleet of 44 total program aircraft, made up of 36 Pilatus PC-12 aircraft and five Pilatus PC-24 jets. The PlaneSense fractional program provides private air transportation, primarily within the United States, Canada, Mexico, The Bahamas, the islands of the Caribbean and more recently, Cuba. PlaneSense guarantees departure times as soon as eight hours after a flight request, depending on the size of the aircraft share owned for domestic flights on non-peak days. PlaneSense, inc. is not, itself, an air charter provider or commercial air carrier, but charter flights can be arranged through its sister company, Cobalt Air.
Jet Republic was a privately held company jet company that offered private jet cards and share ownership. It was closed in 2009.
Starlink Aviation is a Canadian charter airline and a fixed-base operator. It is based at the Montréal–Trudeau International Airport in Dorval, Quebec.
XO is a US-based private aviation company and subsidiary of Vista Global with its headquarters in Fort Lauderdale, Florida. XO, with a worldwide fleet access of more than 1,450 private aircraft, offers clients on-demand private jet charters with fixed-price membership programs as alternatives to jet cards and fractional ownership of aircraft. The company also offers the ability to purchase individual seats on pre-arranged, shared flights.
Pentastar Aviation is an American aviation services company based in Waterford, Oakland County, Michigan. It provides domestic and international private charter flights, avionics, maintenance services, in-flight catering and FBO services. Originally a subsidiary of the Chrysler Corporation, the company was sold in 2001 to Ford family member Edsel B. Ford II.
Kenneth C. "Kenn" Ricci is an American aviation entrepreneur, the principal of Directional Aviation Capital, which owns or invests in various aviation enterprises including Flight Options and Flexjet, where he is chairman. He is an operating partner at Resilience Capital Partners, a private equity firm with a variety of portfolio companies, including an investment in Flight Options, and has helped found or lead other companies, including Nextant Aerospace and Constant Aviation.
Delta Private Jets, Inc. was an airline of the United States. Its corporate headquarters was on the property of Cincinnati/Northern Kentucky International Airport in Boone County, Kentucky. It operated business jet aircraft as a subsidiary of Delta Air Lines. Its main base was Cincinnati/Northern Kentucky International Airport.
PrivateFly is a global private jet charter broker company with websites covering 19 countries:. The company's main headquarters are in St Albans, Hertfordshire, England. The company is a member of ACANA, BACA, EBAA and NBAA aviation industry bodies. In 2018 PrivateFly became part of Directional Aviation's OneSky portfolio of companies.
ACM Air Charter is a German airline based at Karlsruhe/Baden-Baden Airport. In addition to charter flights and aircraft management the airline operates the business aviation terminal and a maintenance facility at its homebase airport.
A jet card is a private aviation product that enables holders to use different aircraft at agreed-upon fixed hourly rates. Jet cards are offered by large and small fleet operators and charter brokers. There are as many as 65 variables between jet card companies, according to Private Jet Card Comparisons, a buyer's guide to jet card programs.
Michael J. “Mike” Silvestro is the chief executive officer (CEO) of Directional Aviation's private fractional aviation travel businesses, which include Flexjet and Flight Options two of the world's three largest fractional jet companies.
LunaJets is a private jet broker with headquarters in Geneva, Switzerland, where it has been based since it was founded in 2007 by former Ogilvy advertiser Eymeric Segard. Additionally, they have opened offices throughout the years in London, Paris, Monaco, Riga and Dubai.
1 2 Ostrower, Jon; Johnson, Karen (5 September 2013). "Bombardier Bails Out of Its Flexjet Business". The Wall Street Journal. ISSN0099-9660. OCLC781541372. Archived from the original on 3 February 2018. Retrieved 24 October 2019. Bombardier Inc. said Thursday it has agreed to sell its Flexjet fractional-jet operation, reflecting the post-recession dynamics of business aviation, and landed an order from the buyer for new jets worth up to $5.2 billion.
↑ Huber, Mark (18 June 2016). "Flexjet Takes On NetJets". Barron's. ISSN1077-8039. Archived from the original on 19 June 2016. Retrieved 24 October 2019. Flexjet's fleet services 2,100 customers; you may own a quarter share, but your airplane is used by 12.8 other customers.
↑ "Qatar Airways And Flexjet Announce Alliance" (Press release). Qatar Airways. 14 May 2012. Archived from the original on 10 January 2019. Retrieved 24 October 2019. The new agreement, effective today, May 14, enables customers travelling on Qatar Airways' scheduled flights to and from New York, Washington, Houston and Montreal, to book a private premium jet service in a single transaction to cover over 5,000 airports across the region.
↑ Lynch, Kerry (27 June 2014). "Directional Revives Skyjet Charter Brokerage". aviationweek.com. Aviation Week Network. Retrieved 25 October 2019. Directional Aviation has "revived" the Bombardier Flexjet's former Skyjet brand, creating a new unit that consolidates the charter brokerage activities of its Flexjet, Flight Options and Sentient Jet companies.
↑ Bergqvist, Pia (6 September 2013). "Flexjet Changes Ownership, Places Record Breaking Order". flyingmag.com. Flying. Archived from the original on 24 October 2019. Retrieved 25 October 2019. A group named Directional Aviation Capital has purchased Flexjet, the fractional ownership business formerly operated as a division of Bombardier.
↑ Lynch, Kerry (27 June 2014). "Directional Revives Skyjet Charter Brokerage". aviationweek.com. Aviation Week Network. Retrieved 26 October 2019. Skyjet was formed in 2007 and acquired by Bombardier in 2000. VistaJet acquired the Skyjet International segment in 2008 and by 2010 Flexjet had focused its charter services under its own brand.
↑ Velocci, Tony (18 September 2015). "Red Label Raises the Ante". Business Aviation. Forbes. ISSN0015-6914. Archived from the original on 27 September 2015. Retrieved 26 October 2019. Flexjet this week launched a new service offering named "Red Label," which the fractional-ownership provider believes will allow it to deliver a private aviation experience more akin to owning your own aircraft in its entirety.
↑ Layden, Laura (25 February 2016). "Flexjet opens private terminal in Naples". Naples Daily News. Gannett. Archived from the original on 10 January 2019. Retrieved 26 October 2019. Flexjet owners are flying high in and out of the Naples Municipal Airport. They're the first ones to experience a Flexjet-exclusive private terminal. It's the first of several planned at airports where Flexjet sees the greatest demand for flights.
↑ Lyon, John (3 May 2018). "Flexjet to Pamper Private Fliers at Its New Terminal in Dallas". robbreport.com. Robb Report. Archived from the original on 4 May 2018. Retrieved 26 October 2019. The fractional jet ownership company Flexjet has announced plans to open a new private terminal in the Braniff Centre at Dallas Love Field. In addition to a terminal exclusively for Flexjet customers, the facility will feature covered parking, 32,000 feet of office space for Flexjet staff, and 60,000 square feet of hangar space for Flexjet's maintenance operations, which are presently located in Addison, Texas.
↑ Directional Aviation’s OneSky Flight LLC has acquired Associated Aircraft Group AAG from Lockheed Martin,” by Doug Gollan, Private Jet Card Comparisons, February 4, 2021
1 2 3 4 5 6 Federal Aviation Administration Air Transport Division, Part 135 Aircraft Listing from OpSpec D085, , Updated September 1, 2022, Retrieved September 13, 2022.
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