April 3, 2024
Over the past two years, the Cleveland-based subsidiary of Directional Aviation has purchased U.K.-based operator Flairjet and jet card and on-demand charter broker PrivateFly.
One thing is for sure. Flexjet is growing internationally and Europe is a key focus. Speaking to Guy Johnson and Vonnie Quinn on Bloomberg Markets: European Close on October 12th Flexjet CEO Michael Silvestro noted that Brexit isn’t dampening the Cleveland-based fractional share, lease and jet card provider’s outlook on Europe.
“We have made a significant investment in Europe over the last two years,” he told the anchors, noting international travel is up 23% year-over-year. He also pointed to the company’s orientation to long-haul aircraft such as the Gulfstream G650 (above) which it added to its fleet in 2017. “We see Europe as the next marketplace for us to enter,” Silvestro said, adding, “CEOs are traveling around the world more.”
He also noted Flexjet is the launch customer for the Aerion AS2 supersonic jet which is hoping to make its first flight by 2023. At the same time, he said Flexjet is providing an alternative to full ownership via is Red Label by Flexjet, which includes crews dedicated to specific aircraft, something he said is “similar to owning your own aircraft.” The company recently launched a new advertising campaign highlighting its pilots and customers.
Asked about a possible IPO, Silvestro said, “We’re a private organization. We’re doing very well for ourselves so stay tuned.” In September its sister company Sentient Jet, which sells fixed-rate, guaranteed availability jet cards, purchased U.K.-based PrivateFly, which is a tech-focused seller of on-demand charter and dynamic pricing jet cards. Skyjet, which offers a pay-as-you-go fixed rate membership program, is also part of the fold.
