Kenneth Ricci is a 40-year aviation industry veteran who today is a Principal of Directional Aviation Capital which owns various aviation enterprises including Flexjet, Sentient Jet, PrivateFly, Tuvoli, Nextant Aerospace, Stonebriar Commercial Finance, Reva Air Ambulance, Corporate Wings, Simcom and Constant Aviation.
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.