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 Founded in October 1998, Flight Options emerged from a field of 50 competitors as a leader in the fractional jet industry. While fractional ownership of new aircraft was already an existing concept, Flight Options was the first to offer fractional shares in previously owned aircraft.
This new concept translated into a cost savings of 35% on comparable programs offered by its competitors, and thus opened private jet travel to a broader audience. Flight Options record of sustained growth is exceptional. The company went from start up to over $800 million in annual sales in just four years. In 2002, the principals of Directional Aviation Group orchestrated a merger with Raytheon Travel Air making Flight Options the second largest company in the industry. Flight Options, currently owned by Raytheon Aircraft Company, has more than 2,000 owners and a fleet of over 200 new and pre-owned aircraft. Directional Capital Completes Flight Options Investment April 20, 2008 - Richmond Heights, Ohio - Directional Capital, LLC announced today the completion of an investment in H.IG. Transport Holdings, the holding company of Flight Options, LLC. Kenn Ricci, a principal in Directional Capital will be joining the Board. Ricci, one of the founders, was instrumental in bringing Flight Options to market as the first fractional aircraft provider offerings shares in previously owned aircraft. In just over four years the company went from start up to over $800 million in annual sales to become the second largest company in the industry. "We are excited about the opportunity to combine Directional Capital's experience and expertise in business aviation to enhance Flight Options leadership in the industry", said Kenn Ricci, Principal of Directional Capital, LLC. H.I.G Capital acquired Flight Options from Raytheon Aircraft Company in November of 2007. Flight Options continues to be leader in safety and innovation with the private aviation industry and offers a wide range of services including fractional aircraft sales, aircraft management, and the JetPass pre-paid card program. |
