Analyst upgrades Air Partner as jet card sales jump 36.8%

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Analyst Canaccord Genuity raises Air Partner forecasts and target price to reflect the private aviation provider’s improved outlook

An analyst tracking Air Partner is upping its forecast and target price for Air Partner citing a strong start to its results for the current financial year.

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.”

Exclusive: Flexjet sets 2021 Europe launch; Sentient Jet to add health and hygiene requirements for operators

Flexjet Sentient Jet Flex Jet

In a wide-ranging interview, Directional Aviation’s boss Kenn Ricci tells Private Jet Card Comparisons Flexjet’s Europe growth is moving forward, it is expanding use of private jets to position pilots, and Sentient Jet will introduce health-safety requirements for its partner operators

A McKinsey study reveals 90% of those who can afford to fly privately don’t; However, UHNWs and corporate executives are often part of the high-risk profile for COVID-19

With tailwinds gradually picking up, Directional Aviation Capital’s principal Kenn Ricci announced his OneSky Flight’s Flexjet unit will expand its European presence in 2021.

Before the Covid-19 Coronavirus crisis, plans had called for a launch this month during the annual EBACE exhibition in Geneva, Switzerland.

Clay Lacy, Jet Linx lead private jet CARES Act recipients

Clay Lacy Aviation private jet charter

Clay Lacy Aviation received $26.9 million while Jet Linx Aviation was given $20 million, according to U.S. Treasury documents

NetJets, Wheels Up, Flexjet, XOJET Aviation and related companies were notably absent from the Treasury Department’s list of COVID-19 aide recipients

See the full list of aviation companies receiving CARES Act Coronavirus financial support

In a list dated April 27th, the U.S. Department of the Treasury published names of 96 companies receiving some of the $32 billion earmarked to preserve aviation jobs. The list includes both airlines and private jet operators.

The act specified grants needed to be based on payroll expenses from April 2019 through September 2019, subject to proration. Funds must be used for the continuation of payment of employee wages, salaries, and benefits. 

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