Fitch upgrades ratings for Flexjet, Sentient Jet parent OneSky Flight

Flexjet

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.”

Jet Linx joins Blade to enter the VTOL market

BETA ALIA Electric Vertical Aircraft

Jet Linx is following Wheels Up and Flexjet into the vertical take-off and landing segment through an agreement with Blade

Jet Linx Aviation becomes the third of the country’s five largest for-hire private aircraft operators to announce this year it is entering the VTOL – vertical take-off and landing – space.

Blade set to go public in SPAC

Fly Blade spac

The deal values Blade at an estimated pro forma equity value of $825 million

Blade Urban Air Mobility follows SurfAir and Kenn Ricci, the principal of Flexjet, Sentient, FXAIR, PrivateFly owner Directional Aviation, into the public markets. Like the West Coast flight-sharing service and Ricci’s Zanite Acquisition Corporation, the vehicle is a special purpose acquisition company known as a SPAC.

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