Company Overview:

• Flexjet offers a range of private-jet services including: fractional ownership, leasing, charter memberships and aircraft management
• Second largest fractional jet operator
• Operates and manages one the largest private aviation fleets in the United States
• Maintains four operating locations with 680 employees: Cleveland, Ohio; Teterboro, New Jersey; Palm Beach, Florida; and Las Vegas, Nevada
• FlexJet was acquired in 2008 with Next Sparc making a significant investment

Value Creation:

• Built a new executive team, sales force, and operations center
• Changed the business mix and refocused the business on maintenance
• Reduced annual operating costs and new labor pilot contract
• Restructured product offerings and simplified pricing to improve competitive positioning
• New controls and reporting to ensure strict cash and financial management
• Re-established brand recognition through new color scheme
• Sold off excess lift capacity