Kompass Kapital buys controlling stake in Airshare

There is a new controlling shareholder in the top 10 private jet charter/fractional operator Airshare.

Kompass Kapital and the private jet flight provider are scheduled to announce the deal this morning.

Yesterday, employees at the two Kansas City-based companies were informed about the transaction.

The deal was completed last week, according to executives.

It is the latest growth move since John Owen (pictured lower) moved from CFO to CEO in 2018.

“This is something we’ve been looking at for a long time,” Owen told Private Jet Card Comparisons in an interview conducted under embargo.

It will be Kompass’s first investment in aviation.

The Kompass website says its typical investments range from $5 million to $50 million.

“Our deal is we’re always betting on the jockey. This was a great example of getting to know John and the great leadership he brings with his executive team and other key members of his management team,” said Kompass Kapital Managing Director Bradley Berger.

Curran Companies, the previous controlling shareholder, founder Bob Taylor, and original investor Dave Murfin remain part of the ownership group.

Berger said Kompass already has several investments alongside Curran and Murfin.

All entities are based in the Kansas City area.

Recent Airshare history

In 2018, the company rebranded from Executive AirShare.

It then expanded its service area to more of the Midwest.

It also exited its King Air and Phenom 100 fractional program, focusing on the Phenom 300.

In 2021, Airshare made the first of two announcements of orders and options for Bombardier’s Challenger 3500.

Last year, it pushed its primary service area to Florida.

This year, it expanded to the Northeastern U.S. and Georgia.

In 2023, it bought the aircraft management business from Wheels Up.

The current fractional fleet is 14 Phenom 300s and seven Challenger 3500s.

There are 121 managed aircraft, about half available for charter.

What’s next for Airshare?

Owen and Berger declined to discuss possible M&A activity.

Both said they expect a continuation of the growth plan since Owen had taken the helm.

“We have a new investor, but we also have the continuity of the people that have been here since day one and everybody in between. That makes it really easy for us as an executive team to not deviate from where we’re trying to go,” Owen said.