Flexjet Changes Ownership, Places Record Breaking Order

Fractional ownership firm leaves Bombardier.

Flexjet

Flexjet

A group named Directional Aviation Capital has purchased Flexjet, the fractional ownership business formerly operated as a division of Bombardier. There is no doubt that the new owners have great faith in the business. As part of the ownership change, the newly formed Flexjet, LLC signed a deal with Bombardier that could add up to $5.2 billion worth of jets, the largest order in Flexjet's 18-year history.

The contract includes firm orders that add up to 85 jets valued at approximately $1.8 billion, including 10 Challenger 605s, 20 Challenger 350s, 25 Learjet 75s and 30 Learjet 85s. The deal also includes options for an additional 160 Bombardier business jets.

"Our vision for Flexjet is of a luxury brand with a young fleet, the latest technology, custom interiors and continued industry-defining service," said Kenn Ricci, principal of Directional Aviation Capital. "That vision inspired this transaction and landmark order with Bombardier."

Flexjet's president Dianna White will continue to lead the newly formed company as an independent brand. "This opportunity marks the evolution of the next generation of Flexjet," she said.

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