Clients of The Jet Business will gain access to Flexjet Solutions for operational support, maintenance, AOG response and aircraft management.
Preowned aircraft broker The Jet Business, well-known for its marketing innovations, is now part of Flexjet, Inc.
The Jet Business has a street-level retail location at Hyde Park Corner in London.
Its founder, Steve Varsano, has built a TikTok audience of over 2.5 million followers.
There are over 1.26 million YouTube followers and nearly 400,000 on Instagram.
Corporate Jet Investor, which broke the news, calls Varsano “the world’s best-known aircraft salesperson.”
Varsano founded The Jet Business in 2011.
He becomes president of Flexjet, focused on product innovation and international growth.
Per the release:
‘The deal extends Flexjet’s capabilities in whole private aircraft sales, procurement, and advisory services and brings together its existing FXSolutions brokerage entity and The Jet Business under a single global platform. The business will continue to operate under the Jet Business brand while benefiting from the expanded resources, infrastructure, and global reach of the Flexjet ecosystem.’
The deal accelerates the international expansion strategy.
Flexjet entered the European fractional private jet market in 2021.
It has since opened a Tactical Control Centre at Farnborough Airport.
A new Flexjet private terminal will open later this summer at the airport.
“By further integrating aircraft acquisition and disposition capabilities within its global platform, Flexjet gains greater strategic control over fleet quality, modernization, and lifecycle planning,” per the company.
Last year, Flexjet attracted an $800 million investment from LVMH-backed L Catterton.
READ: Private Aviation M&A Deal Book
The Jet Business will support the acquisition of aircraft entering the Flexjet fleet and the transition of aircraft exiting service.
Flexjet has been building its large and ultra-long-range private jet fleet with newly pre-owned aircraft and new aircraft from OEM tails.
Last year, Flexjet sold 20 Challenger 300s to Baker Aviation.
Flexjet, Inc. Chairman Kenn Ricci (pictured left) says, “A core tenet of our luxury strategy is maintaining one of the youngest and most modern fleets in the industry.”
He adds, “This acquisition strengthens our platform to move aging aircraft gracefully out of the fleet, while introducing next-generation aircraft into service for our fractional owners.”
Ricci continued, “By continuing to gain control of key aspects of our industry ecosystem, Flexjet is constantly elevating customer experience and innovating product offerings in a way that truly redefines private aviation today.”
Flexjet has been expanding its MRO network and private terminals since Covid.
The Jet Business will also add market intelligence, transaction expertise, and advisory capabilities.
Clients of The Jet Business will gain access to a new offering called Flexjet Solutions.
Flexjet Solutions will “provide access to the broader capabilities of the Flexjet ecosystem.”
Clients can benefit from aircraft operational support, pre-purchase inspections, maintenance infrastructure, AOG response resources, and turnkey aircraft management solutions designed to maximize aircraft availability, while minimizing owner complexity and downtime.
55% of full aircraft owners also use jet cards, 47% charter ad hoc, and 31% hold fractional shares, according to research by Private Jet Card Comparisons.
Flexjet has also been expanding its European aircraft management company, Sirio.
Flexjet, Inc. includes FXAir, an on-demand charter broker, and Sentient Jet, which focuses on jet cards.
Varsano said, “I am proud to see The Jet Business augment the global advisory and research capabilities of Flexjet, which has established itself as the definitive luxury brand in private aviation under the visionary helm of Kenn Ricci.”
He says, “We are well aligned in our belief that clients, at the very top of this market, are seeking far more than access to aircraft,” adding, “They want trusted solutions that are designed around their needs, delivered by experts and presented in style.”
Varsano noted, “Through social media, it evolved into something even greater – a brand built on education, mentorship, and trust, anchored by an immersive London experience that reimagined how clients engage with private aviation.”
Flexjet had previously had a small in-house aircraft brokerage under FXSolutions.
Terms of the transaction were not disclosed.
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