Kenn Ricci’s Zanite Acquisition Corp. sets $200 million IPO

Flexjet Sentient Jet Flex Jet

Ricci, who leads Flexjet, Sentient Jets, PrivateFly, and FXAIR parent Directional Aviation, serves as co-CEO of Zanite

Zanite Acquisition Corp. announced today that it priced its initial public offering of 20,000,000 units at $10.00 per unit, or $200 million.

Let’s make a deal. The private jet M&A market is hot, but not without risks

Private aviation M&A

Vista Global’s deal yesterday with Red Wing that brings it 15 light jets to XOJET is the latest and doesn’t look to be the last

In just over 3 years, we’ve tracked over 50 deals, fundraises, launches, and bankruptcies

The COVID-19 crisis may be bringing the already simmering mergers and acquisitions market for private jet operators and brokers back to a boil.

Private jet charter operators ripe for mergers and consolidation

private aviation mergers

Expect more mergers and consolidation with Part 135 private jet charter operators, says one investment bank

The Part 135 private jet charter market is ripe for consolidation and outside investment. That’s according to Brooks Crenshaw, managing director of Balmoral Advisors.

Wheels Up has purchased Travel Management Company

Wheels Up Delta Air Lines

The deal, which is being announced this morning, and closed Friday, adds 26 light jets to the Wheel Up fleet

Wheels Up announced this morning that it has closed a deal to acquire Elkhart, Indiana-based Travel Management Company (TMC), a significant fleet operator of owned and leased light jets serving the on-demand charter market. The deal will increase the current Wheels Up fleet to 119 owned and leased aircraft. Terms of the deal were not disclosed.

For Wheels Up founder Kenny Dichter, who helped popularize jet cards by launching Marquis Jet Partners in 2001 before selling it to NetJets in 2010, the move comes after he announced in January he had hired Goldman Sachs and Bank of America to provide advice on strategic options.

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