September 5, 2013
Flexjet growth attracts new owners to invest $5.2bn for largest aircraft order in its history
After 18 successful years as Bombardier’s fractional jet ownership division, Flexjet announced a definitive agreement for its purchase by a group led by Directional Aviation Capital through a newly-formed entity, Flexjet, LLC. With support from its new investors, Flexjet is placing the largest private aviation order in its history valued at approximately $5.2bn for up to 245 Bombardier business jets. The transaction for the sale of Flexjet is expected to close by the end of the year. The firm order includes 85 business jets, featuring next generation Challenger 350, Challenger 605 and Learjet 75 jets, and the highly anticipated Learjet 85 aircraft. The agreement also includes options for an additional 160 business jets. Fractional shares are now available, with some aircraft deliveries beginning in 2014. This development emerges during a momentous period of growth for Flexjet, which is reporting a 96% increase of new fractional and jet card sales in January to June 2013 compared to the same period in 2012. In the first six months of this year, sales of new fractional shares increased a notable 112%, while new jet card sales grew a solid 68%.