Kenneth C. “Kenn” Ricci is an American aviation entrepreneur and the Principal of Directional Aviation Capital, which owns or invests in various aviation enterprises including Flexjet, where he also serves as Chairman.
Living Legends of Aviation host star-studded evening to celebrate the best of the best
John Travolta, the “Official Ambassador of Aviation” hosted the 21st annual “Living Legends of Aviation Awards” on Jan. 19, 2024, at the Beverly Hilton Hotel. Actors Morgan Freeman and Kurt Russell, musician Kenny G, and more than 70 Living Legends of Aviation were also there to make the evening unforgettable.
A Public Year For Private Jet Flight Providers
In a somewhat ironic storyline, as high-profile private jet owners like Bernard Arnault, Elon Musk, and Mark Cuban fretted about keeping their flights off the radar, a flock of private jet flight providers invited skeptical eyes to take a closer look as they chased IPOs. So far, it hasn’t been pretty when it comes to the bottom line. Still, the companies have continued to find customers, often by offering different twists on traditional fractional and jet programs, plus lower prices. Over the course of a year, their plans can mean six-digit savings, significant money even for flyers with eight-digit net worths.
Who just ordered 12 Bombardier Challenger 3500 private jets?
A mystery customer has placed a firm order with Bombardier for a dozen Challenger 3500 private jets. The 3500 is the updated version of the Challenger 350 and Challenger 300. The order is valued at $326.4 million based on list prices.
Private Jet Card Comparisons
Private Aviation Has a Pilot Shortage. Here’s Why.
After Delta, United, and American Airlines recently announced that they were hiking salaries, private aviation’s pilot shortage suddenly became even more acute, in no way aided by the fact that some commercial airlines now pay six-figure signing bonuses. According to industry surveys, corporate pilots sometimes earn just 60 percent of their commercial-airline peers’ salaries during a 30-year career.
Wealthy Travelers Have Found an Even More Desirable Way to Fly Private
For more and more deep-pocketed people who don’t want to fly commercial, owning part of a private jet is better than owning the whole thing. Wealthy travelers who tried charter flights during the pandemic have upgraded to be able to book a flight in as little as four hours, according to Richard Koe, managing director of WingX, an industry analysis firm.
Flexjet to Acquire Aircraft Maintenance Company Flying Colours
Both Flexjet and Constant Aviation are part of aviation entrepreneur Kenneth Ricci’s Directional Aviation Capital, located in Richmond Heights.”Bringing the capabilities of Constant Aviation, which Flexjet bought earlier this year, and now Flying Colours in-house enables us to ensure both the highest possible service quality and the maximum availability of aircraft for our owners,” Ricci, who is Flexjet’s chairman, said in a statement. “Flexjet now fully controls its maintenance and product support needs.”
Fairgrave Omlie LLC, the holding company controlled by Ricci, announced its Flying Colours acquisition at the end of June, according to the Toronto Star.
Challenges for Private Jets After Pandemic Surge
But for companies like Flexjet, which own their own fleets and cater to more stable customers who buy chunks of flight hours, the surge during the pandemic brought new problems, including having to purchase expensive aircraft capacity from other operators to meet clients’ needs, said Kenn Ricci, chairman of Flexjet.
Sirio Opens Maintenance Hangar at Milan Linate Airport
Aircraft management and maintenance group Sirio today launched operations in a new hangar at Milan Linate Airport that will provide support for sister company Flexjet Europe. The new facility is the 11th hangar in the Italian airport’s business aviation complex, almost doubling the size of Sirio’s infrastructure there to 10,625 square meters (114,000 sq ft).
A Linate Prime inaugurato il nuovo hangar di manutenzione X
All’aeroporto di Milano Linate Prime è stato inaugurato l’Hangar X, dove Sirio società di manutenzione e gestione degli aeromobili, effettuerà servizi a supporto di Sea Prime, la società del gruppo Sea che con il brand Milano Prime opera nel settore business aviation.
Flexjet Scraps IPO, Continues Growth Plans
Flexjet yesterday scrapped plans to go public through a combination with special purpose acquisition company (SPAC) Horizon Acquisition Corp. II. In October, the fractional ownership provider announced the agreement to go public with Horizon with the expectation that the transaction would conclude by mid-2023 and result in proceeds to help fund fleet, program, and geographic expansion. The board of directors for both companies had approved the proposed deal.