Speaking on CNBC’s Squawk Box, Flexjet CEO Mike Silvestro said the fractional share, lease and jet card provider is ready for any potential storms, financial or in the skies
Flexjet’s CEO Mike Silvestro made an appearance yesterday on CNBC’s Squawk Box.
During a roundtable with the program’s hosts, he said the number two provider of private jet fractional shares and leases is ready for bad weather, both in the skies and on its balance sheet.
For Flexjet the order follows its $1.4 billion deal with Embraer announced earlier today; For Qatar Executive, it’s in addition to its July billion-dollar Gulfstream order
A billion dollars here. A half-billion or so there. It is Las Vegas after all. As the National Business Aviation Association’s annual convention kicks off here, Flexjet followed up its morning announcement it is buying $1.4 billion in private jets from Embraer by placing an order to be the North American launch customer for the Gulfstream G700.
(Updated Oct. 23, 2019: Flexjet’s order is for 16 G700s valued at $1.2 billion)
Flexjet’s chairman Kenn Ricci wasn’t the only CEO playing at the high stakes table. Akbar Al Baker, CEO of Qatar Airways, is buying 10 of the new ultra-long-range, ultra-fast private jets for his Qatar Executive charter division. It follows a billion-dollar order with the Savannah, Georgia-based manufacturer in July.
The long-running hurricane hit close to the heart as Flexjet helped owners evacuate their extended family from the Bahamas, and now helps with the recovery effort
Executing an operations plan before, during and after a hurricane is not out of the ordinary for most major fleet operators, and Flexjet, the second-largest seller of fractional shares is no exception. However, this time was a bit different, its chief operating officer Megan Wolf tells Private Jet Card Comparisons.
One of the nice things about having access to a private jet
is being able to get to places that take more time if you are flying
commercially, and so it was that a number Flexjet’s owners had homes in areas
of the Bahamas that were hardest hit by Hurricane Dorian.
Through the end of April, the former Skyjet Explorer pay-as-you-go
fixed rate jet card is being discounted to $5,000
Directional Aviation’s OneSky, which owns Flexjet and Sentient Jet, said it has merged its Skyjet brand into PrivateFly, which it had acquired last September. Skyjet was acquired by Directional in 2014 as part of Bombardier’s divestiture of its fractional share arm Flexjet. The Skyjet team is being merged into PrivateFly under Adam Twidell, the co-founder and CEO of PrivateFly.
Over 3,000 private jet landings and takeoffs are expected during the Masters week
Flexjet, one of the largest fleet operators in the world, which sells fractional shares, leases, custom programs and jet cards has announced its planned hospitality and promotions during The Masters week at Augusta Regional Airport.