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