Got Learjets? Flexjet Buys Dozens More

The ink has barely dried on Flexjet’s history making $5.2 billion order with Bombardier but the fractional ownership provider is already changing the deal — which suits Bombardier just fine. Flexjet announced yesterday it has converted options for 30 Learjet 85s that it placed last month to firm orders and has asked for options on an additional 20 airplanes. That ups the total potential value of the deal to $5.6 billion, $2.4 billion of it representing firm commitments.

Flexjet on September 5 announced it is being sold to private investment firm Directional Aviation Capital and** simultaneously placed a firm order for 85 Bombardier jets**, including a mix of 25 Learjet 75s, 30 Learjet 85s, 20 Challenger 350s and 10 Challenger 605s. With the order modification, Flexjet will now take at least 60 Learjet 85s and possibly as many as 80.

“We’re very proud to see Flexjet placing their trust in our new Learjet 85,” said Steve Ridolfi, President of Bombardier Business Aircraft. “This endorsement is a tremendous vote of confidence as we move toward the first flight of the Learjet 85 jet before the end of the year.”

Flexjet was originally founded by Bombardier in 1995. Directional Aviation Capital, formed by well-known aviation entrepreneur Kenn Ricci, owns a number of aviation interests, including fractional provider Flight Options and Nextant Aerospace, a remanufacturer of business aircraft.

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