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

Value Creation:

• New Management
• Built a new executive team, sales force and operations center
• Refocus on maintenance
• Process Improvement
• Reduced annual operating costs and new labor pilot contract
• Reduced third party charter
• Business Mix Change
• Restructured product offerings and simplified pricing to improve competitive positioning
• Added to existing fleet
• Financial and Information Management
• New controls and reporting to ensure strict cash management
• Cost management via maintenance
• Sell or Deploy Assets
• Re-established brand recognition through new paint scheme
• Sold off excess lift capacity