Flexjet fractional share hours sold increased 35% in 2021 Q1
What a difference a year and a couple of months make. Fitch Ratings has upgraded OneSky Flight’s Issuer Default Rating (IDR) to ‘B’ from ‘B-. Fitch also upgraded the company’s senior secured term loan to ‘BB-‘/’RR2’ from ‘B’/’RR3’. The Rating Outlook is Stable. OneSky is a unit of Directional Aviation. Its private aviation brands include Flexjet, Sentient Jet, FXAIR, PrivateFly, and Halo. In April 2020, Fitch had downgraded OneFlight citing, “the effects of a global drop in demand related to the coronavirus pandemic.”
It’s unsure of the objective for the owner of the AccorJets website. It was promoting a financial scheme to buy shares in private jets that would produce immediate returns. Ostensibly, it was offering charter flights on its claimed fleet of private jets. It said it was owned by the Accor group of hotels and part of Directional Aviation, owner of Flexjet and Sentient Jet. It liberally used images of Flexjet aircraft in its marketing materials.
Despite claiming to be owned by Accor Hotels and Directional Aviation, AccorJets is not associated with either company
AccorJets promises investors quarterly dividends from charter revenues
The website for AccorJets claims to have a fleet of Bombardier Global 7500s, Gulfstream G650s and G500s, and Citation Latitudes. Three more aircraft will be delivered this year, it says. It claims to be “part of the Directional Aviation portfolio.” It lists as board members executives of the Accor Hotels Group, including chairman and CEO, Sébastien Bazin. Accor includes brands like Raffles and Fairmont and is one of the world’s largest hospitality companies.
Directional Aviation’s OneSky Flight, parent of Flexjet and Sentient, says it is targeting managed helicopter fleets, this time adding a U.K.-based operator
Flexjet, the second-largest fractional fleet operator, and sister Sentient Jet, a leader in jet cards, now have a second helicopter operator in the OneSky Flight portfolio. Halo Aviation Ltd., an operator in the United Kingdom, follows the acquisition earlier this year of Associated Aircraft Group (AAG). The latter operates Sikorsky helicopters in the Northeastern U.S.