The acquisition of Jets MRO is part of the FlyHouse plan to support owners and operators of private jets on its instant booking platform.
Following its acquisition of Sun Air Jets last year and its Part 145 maintenance, FlyHouse has completed the acquisition of Jets MRO.
The deal closed last week, according to company executives.
FlyHouse CEO Jack Lambert tells Private Jet Card Comparisons that expanding its MRO network is a key part of its proposition to help private jet owners drive down costs.
Jets MRO has a 40,000-square-foot facility at Dallas Executive Airport in Dallas, Texas.
It also has a location in Miami, Florida.
FlyHouse has bought 100% of Jets MRO, according to Lambert.
Lambert says that by scaling its MRO support, it will enable aircraft on its instant booking platform to save on maintenance and repair services.
Jets MRO offers line maintenance, scheduled maintenance, AOG support, and pre-purchase inspections.
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Aftermarket support has become a front-and-center issue for private jet operators.
During the Corporate Jet Investor conference in Miami, Nicholas Air CEO Nicholas Correnti criticized OEMs and MROs for aftermarket support.
Correnti told the gathering, “I don’t think there’s a supply chain issue… We’re producing airplanes at a staggering rate, and the backlogs are 18 months, two years, depending on the OEM.”
He continued, “All those airplanes being produced and sold off the assembly lines have to have the parts that the current aircraft that are in circulation need.”
Correnti told the audience that the revenue loss of having airplanes grounded for months at a time will be too much for smaller operators.
The Nicholas Air CEO said, “Who I feel sorry for is the one, two, three airplane operations, or the young entrepreneur… They’re not going to make it. They are going to fail.”
Flexjet Chairman Kenn Ricci said he had to spend $30 million in legal fees during a multi-year litigation against Honeywell before securing a billion-dollar settlement in cash and credits.
Flexjet’s lawsuit followed Honeywell’s failure to provide contracted maintenance for the fractional operator’s fleet of engines.
The Honeywell letdown grounded a large portion of the Flexjet fleet.
It also sent the company scrambling to secure charter aircraft to serve clients who had guaranteed availability by contract.
FlyHouse previously hinted that MROs would play an important role in linking its platform with aircraft owners and operators.
About the Sun Air Jets acquisition, the company had said, “The combination immediately expands FlyHouse’s operational depth, geographic presence, and technical capabilities, strengthening its ability to support aircraft owners and charter clients across a broader range of missions and markets.”
Jets MRO Suresh Narayanan recently told D Magazine the company employed 21 mechanics, with plans to scale to 100.
Narayanan said demand for private jet MRO services is outpacing capacity.
Narayanan said, “The biggest issue is (private jet operators and owners are) all looking for good maintenance slots, and there’s not enough out there.”
Between Sun Air Jets and Jets MRO, FlyHouse now has Part 145 maintenance at Van Nuys, Camarillo, Dallas, and Miami.
Miami Opa Locka, Dallas Love Field, and Van Nuys are among the 10 busiest private jet airports in the country.
FlyHouse plans to raise as much as $300 million in a current offering, according to backer Benevolent Capital.
Earlier this month, it bought JetSmith as part of its plan to increase the number of charter jets on its platform and to encourage brokers to use its B2B solutions.
FlyHouse says there are currently 2,300 aircraft available for instant booking.
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