AirSprint to add long range private jets

Following a deal by two private equity firms to acquire AirSprint, the company said it will add large-cabin private jets.

The plan was reported by Bloomberg yesterday.

CEO James Elian confirmed the report to Private Jet Card Comparisons. 

Per Bloomberg, the plans call for acquiring five large cabin jets for its fractional fleet.

The first aircraft would be acquired within the next year.

Elian said the new jets will need to be able to fly nonstop between Montreal, Toronto, and Europe.

According to the report, AirSprint is looking at Bombardier, Dassault, and Gulfstream.

Calgary-based AirSprint’s current fleet consists exclusively of Textron Aviation Cessna light jets and Embraer midsize and supermidsize aircraft.

Neither currently offers large cabin jets.

Flexjet recently signed a deal with Gulfstream, providing it exclusivity for its fractional program with the G500 and G700.

However, the terms weren’t disclosed, and it’s unclear whether that extends to Canada.

Dassault Aviation executives have said they would like an order from a fractional fleet operator.

NetJets is retiring the last of its Falcon 2000s from its European fleet.

NetJets, VistaJet, and start-up Bond have all tapped Bombardier as supplier of new long-range private jets.

AirSprint Growth

AirSprint currently has 44 aircraft.

Onex Partners and TriWest Capital Partners agreed to buy AirSprint last month.

Terms were not disclosed, but the new owners said they would back expansion plans, with Elian continuing in his role as CEO.

The deal is expected to close this quarter.

AirSprint has seen demand for fractional ownership in Canada spike since Covid.

Elian told Bloomberg that it currently has 650 fractional owners, compared to 250 in 2019.

Based on fractional and charter flight hours, AirSprint ranks as the eighth largest private jet operator in North America.