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Flexjet
Flexjet, led by Chairman Kenn Ricci, is a global fractional private jet operator with 270+ aircraft and an $800M investment from L Catterton.
Flexjet
Flexjet began in 1995 as Corporate Wings, an aircraft management and charter company founded by Kenn Ricci, who remains chairman and still flies up to 700 hours annually (per the firm). The firm entered the fractional ownership market as a Bombardier division in 1995, and after acquiring Flight Options and Sentient Jet, emerged as an independent operator. Ricci formed Directional Aviation, an investment vehicle focused solely on private aviation, which structured the acquisitions that created Flexjet's current platform. Flexjet deploys capital across fractional jet ownership, leasing, jet cards, and on-demand charter (via its FXAIR brand). The fleet includes 270+ aircraft from Embraer, Bombardier, and Gulfstream, with firm orders totaling $7 billion for Embraer models alone. Geographically, it operates across North America and Europe, with in-house maintenance through acquired MROs Constant Aviation and Flying Colours Corp. In February 2025, the firm announced an $800 million equity investment from a consortium led by L Catterton (an LVMH affiliate), KSL Capital Partners, and the J. Safra Group — the largest equity investment in private aviation history (per the firm, February 2025). The firm employs 4,000+ people, including 1,300 pilots. It is building exclusive private terminals in Scottsdale, Arizona and Farnborough, England (slated to open in 2026). It also runs Flexjet House, a global experience center in London's Mayfair. Its Red Label program pioneered dedicated flight crews per aircraft, and it was the first private aviation operator to integrate an owned helicopter fleet for fractional owners in the US Northeast, Florida/Bahamas, and London. Flexjet's structural differentiator is its vertical integration — it owns its MRO capabilities (Constant Aviation, Flying Colours), operates its own terminals, and runs a wholly-owned European operator (acquired via PrivateFly, FlairJet, and SIRIO). This self-contained model reduces reliance on third-party vendors and allows the firm to control every touchpoint of the passenger experience, from interior finish to flight dispatch.
General information
Firm type
null
Year founded
1995
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Cleveland
Corporate office
Cleveland, OH, United States
Additional offices
Scottsdale, AZ, United States · Farnborough, United Kingdom · London, United Kingdom · Milan, Italy
Principals
Kenn Ricci
Chairman
Sector focus
Frequently asked questions
Who runs investment decisions at Flexjet?
Flexjet is chaired by Kenn Ricci, who founded the predecessor company Corporate Wings and has overseen all major acquisitions and aircraft orders. The firm operates under Directional Aviation, Ricci's investment vehicle focused solely on private aviation. Strategic equity decisions are now shared with the consortium led by L Catterton, KSL Capital Partners, and the J. Safra Group (per the firm, February 2025).
How does Flexjet source proprietary deal flow?
Flexjet sources deal flow through its vertical integration: it identifies and acquires complementary aviation businesses such as maintenance providers Constant Aviation and Flying Colours Corp, and European operators PrivateFly, FlairJet, and SIRIO. Chairman Kenn Ricci has direct relationships with aircraft OEMs like Embraer, Bombardier, and Gulfstream, resulting in large-scale fleet orders.
Is Flexjet structured as a family office or does it operate more like a private equity-backed company?
Flexjet operates as a private aviation company owned by Directional Aviation, an investment firm founded by Kenn Ricci. It is not a family office. In February 2025, a consortium including L Catterton (an LVMH affiliate), KSL Capital Partners, and the J. Safra Group led an $800 million equity investment, marking the largest such infusion in private aviation history.
What investment stages does Flexjet typically target?
Flexjet does not make external investment allocations — it is an operating company that deploys capital into aircraft fleet orders, MRO facilities, and private terminal infrastructure. Recent commitments include a $7 billion order for Embraer aircraft and the construction of exclusive terminals in Scottsdale and Farnborough.
Which sectors does Flexjet explicitly avoid?
Flexjet explicitly avoids sectors outside of private aviation — it has no exposure to real estate development outside its own terminals, no healthcare or technology investments, and no financial services other than aviation leasing. The firm concentrates solely on fractional ownership, leasing, jet cards, charter, and MRO.
Does Flexjet maintain philanthropic structures, and how are they separated?
Flexjet does not publicly disclose a separate philanthropic foundation. The firm has historically supported employee-led initiatives such as Project Lift (ferrying crew during COVID-19) but no standalone charitable arm is listed on its website or regulatory filings.
What is Flexjet's known posture on co-investments alongside external GPs?
Flexjet does not participate in co-investments alongside external GPs — it is a vertically-integrated operator, not a fund manager. Its capital is deployed directly into aircraft, facilities, and acquisitions within the private aviation sector.
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