Business Aviation

The private aviation services provider, which counts NFL star quarterback Patrick Mahomes as a customer, snapped up 90 aircraft and 300 personnel from its rival.

The Canadian manufacturer initially set its sights on a five-seat prototype before pivoting to a larger model.

This later, larger model retains the distinct look that helped the Learjet stand out since its first flight.

Deal will give lenders 95 percent stake in the company and control of the board.

On Wednesday. Textron Aviation and NetJets announced the terms of a record-breaking deal between the longstanding partner companies for the purchase of up to 1,500 Citation jets. NetJets will also serve as the launch partner for the Citation Ascend, announced at the National Business Aviation Association’s European Business Aviation Convention and Expo in May.

The NBAA survey also found that retention bonuses for senior captains averaged $27,000.

Transaction helps the companies expand product offerings and move into new markets.

In 2022, the light sport and kitbuilt markets showed steady sales.

The dual approvals were issued in concert on August 22 in France.

Once the SPAC merger is completed, Volato is expected to have an enterprise value of $261 million.