Latest news with #Flexjet
Associated Press
23-05-2025
- Business
- Associated Press
FLEXJET BREAKS GROUND ON NEW CUSTOM-DESIGNED PRIVATE TERMINAL IN SCOTTSDALE, ARIZONA
Scottsdale, Ariz., May 23, 2025 (GLOBE NEWSWIRE) -- Flexjet, a global leader in luxury private aviation, today broke ground for its newest Flexjet exclusive private terminal at the Scottsdale, Ariz. Airport (KSDL) opening in late 2026. Today's groundbreaking signals the start of this ground-up custom build a $36 million facility, with a 9,000 square-foot customer terminal, 9,500 square feet of office space and another 34,000 square feet in maintenance hangar space. The facility will take design cues from Flexjet's global headquarters in Cleveland, Ohio, showcasing a contemporary aesthetic with a sleek exterior and expansive windows that flood the space with natural light. Much like the artisan LXi Cabin Collection aircraft interiors making up the Flexjet fleet, so too are each of Flexjet's private terminals in their design, decor and aesthetic - all with an eye for detail. The Scottsdale facility will offer a scenic backdrop of the McDowell Mountains and a 2,400 square foot outdoor terrace for Flexjet passengers to enjoy the views – whether they are aviation enthusiasts taking in the aircraft activity or the sunsets. This facility will also be an exclusive lounge for Flexjet aircraft Owners and their travel guests, fostering a seamless ground-to-air experience. Flexjet Technical Services, Flexjet's in-house maintenance and product support team, will also have a presence at this new facility and provide ongoing, rapid assistance both on and off the aircraft. 'Decades ago, I fell in love with this area and have since made it my home for a good portion of each year. It seems I was not the only one - as Scottsdale's ultra-high net worth population has grown by nearly 90 percent in just the last ten years,' said Kenn Ricci, Chairman of Flexjet. 'Over that same period, private jet travel activity at this airport has grown by more than 50 percent and Flexjet traffic at this airport has doubled since 2000, making it our top 10 most popular airport. As we build the fractional industry's largest network of provider-exclusive private terminals, I couldn't be more excited to truly plant the Flexjet flag in such a meaningful location.' Additional amenities include: 'We're delighted to partner with Flexjet on this remarkable new facility in Scottsdale, a city that continues to be a cornerstone of business aviation in the Southwest,' said Jeff Foland, Chief Executive Officer of Atlantic Aviation. 'Together, we're delivering outstanding hospitality and operational excellence that meets the evolving needs of today's most discerning travelers.' Scottsdale will become one of Flexjet's Exclusive Private Terminals, which are already operating at Teterboro (KTEB), White Plains (KHPN), Dallas Love Field (KDAL), Naples, Fla. (KAPF) and Van Nuys (KVNY) in the Greater Los Angeles market. Additional private terminals are in various stages of their development in Bozeman, Mont. (KBZN), Palm Beach (KPBI) and Miami, Fla. (KOPF) as well as Las Vegas, Nev. (KLAS). In the U.K., Flexjet's Exclusive Private Terminal, office space and maintenance hangar space is slated to open in 2026 at Farnborough Airport (EGLF), Europe's leading airport for premium air travel connectivity. This revolutionary facility will be the first of its kind in Europe, dedicated exclusively to Flexjet passengers and staffed with Flexjet team members. The Farnborough terminal will feature a dedicated FBO facility, making Flexjet the first fractional operator in Europe to offer such a service. See photos of the groundbreaking and a video rendering of the exterior of the Scottsdale building here. About Flexjet Flexjet, a global leader in private aviation, first entered the fractional jet ownership market in 1995 and is celebrating its 30th anniversary. Flexjet offers fractional jet ownership and leasing and is the first in the world to be recognized as achieving the Air Charter Safety Foundation's Industry Audit Standard, is the first and only company to be honored with 25 FAA Diamond Awards for Excellence, upholds an ARG/US Platinum Safety Rating, a 4AIR Bronze Sustainable Rating and is certified at Stage 2 with IS-BAO. Flexjet Technical Services, a fully integrated maintenance and product support infrastructure, has operations in the U.S., Canada and Europe and its primary mission is to support the Flexjet fleet. Red Label by Flexjet, a market differentiator, features an ultra-modern fleet, flight crews dedicated to a single aircraft and the LXi Cabin Collection of interiors. To date there are nearly 50 different interior designs across its fleet, which includes the Embraer Phenom 300, Praetor 500 and 600, Bombardier Challenger 350/3500 and the Gulfstream G450 and G650. Flexjet's European fleet includes the Embraer Praetor 600 and the Gulfstream G650. Flexjet's helicopter division offers leases, helicopter cards and convenient interchange access for its aircraft Owners. Flexjet owns, operates and maintains its fleet of Sikorsky S-76 helicopters which boast 55,000 hours of safe flying certified by Wyvern and ARG/US and serving locations throughout the northeastern United States, United Kingdom and Florida. Flexjet is a member of the Directional Aviation family of companies. For more details on innovative programs and flexible offerings, visit or follow us on Instagram @ Flexjetllc. Attachments Susan Ruiz Patton Flexjet 2163339526 [email protected]
Forbes
31-03-2025
- Business
- Forbes
Flexjet Celebrates 30 Years With Big Moves And Sky-High Ambitions
In 2025, Flexjet celebrates 30 years as a private aviation leader For over 30 years, Flexjet has been soaring to new heights. Originally founded in 1995 as part of Bombardier Aerospace, the company has steadily evolved into a global leader in private aviation. Now owned by Directional Aviation, Flexjet is the second-largest operator of private jets worldwide. The company is known for its fractional ownership model, where "Owners" can enjoy the benefits of jet ownership without the hefty upfront cost. Instead, owners enter an Access Program, which allows them to purchase a share of a jet and pay a structured monthly fee. For about $1.6 million in equity and a monthly fee of around $24,000 for the Praetor aircraft, owners get 50 hours of flight time and the freedom to fly on their own terms. Flexjet also offers a Jet Card program, a debit-style option designed for those who typically fly 25 hours a year. One of the standout features of Flexjet is that it operates its own fleet, which continues to expand. With over 300 aircraft, including the long-range Gulfstream G650 and the Super-Midsize Praetor 600, Flexjet's fleet is constantly evolving. In February 2025, the company made headlines by signing a $7 billion deal with Embraer Executive Jets, securing an order for 182 aircraft with 30 more as potential options. By 2031, Flexjet's fleet is expected to double, with around 600 jets in operation, positioning it as a major player in the private aviation market. Flexjet currently operates over 300 private aircraft, including the Praetor 600 As Flexjet continues to grow, its presence is felt more and more across the globe, with over 4,300 employees worldwide. U.S. owners, in particular, are flying further than ever, especially to destinations like the Middle East and Europe. This surge in long-haul travel is thanks to the advanced capabilities of Flexjet's fleet, particularly the Gulfstream G650, which boasts an impressive range of 7,000 nautical miles. Another major perk for Flexjet owners is the company's interchange program, which allows seamless access to its European fleet. To support this growing demand, Flexjet is set to open its first dedicated private aviation terminal in Europe at Farnborough, slated for early 2026. This state-of-the-art terminal will feature private lounges for owners and their guests, as well as a Red Label Academy for specialized crew training. It will complement Flexjet's existing terminals in Dallas, Naples, Florida, Teterboro, New Jersey, Van Nuys, California, and White Plains, New York. All of this is supported by the company's new $50 million global headquarters in Cleveland, Ohio, which opened in September 2023. Flexjet's LXi Cabin Collection™ is designed to transport passengers well beyond their destination Flexjet is always looking for ways to enhance its offerings, and its recent upgrades are no exception. In December 2024, the company launched the LXi Cabin Collection, a curated selection of over 50 custom interior designs created by renowned designers and artists. And in January 2025, Flexjet introduced the FXLUXE Travel Guides, a series of exclusive, ultra-curated travel experiences. Created by Flexjet Chairman Kenn Ricci, these travel guides offer bespoke itineraries to some of the world's most coveted destinations, including the Galápagos Islands, Lake Como, and Marrakech. Ricci's vast network and Flexjet's global contacts in hospitality, culture, dining, shopping, and fashion ensure each owner's trip is unique and unforgettable. Flexjet's commitment to offering its owners exceptional experiences doesn't end with its aircraft. In fact, it's the only private jet operator to offer its own fleet of private helicopters, ensuring seamless travel between destinations. The company has also partnered with high-end luxury brands, such as The Emory, a five-star all-suite hotel in London. This exclusive partnership provides guests with complimentary helicopter transfers from top private jet terminals to the hotel's luxurious suites. Flexjet has launched a helicopter partnership with The Emory hotel in London Another exciting collaboration came in 2024 when Flexjet teamed up with Italian yachting giant Ferretti Group. Through this partnership, Flexjet's shared aircraft owners and customers gain VIP access to prestigious boat shows and private tours of Ferretti Group's Riva shipyard, as well as special deals on Riva products and accessories. On the flip side, Ferretti Group clients get access to Flexjet's global fleet and private terminals at key airports, further enhancing the luxury experience. Flexjet's expansion doesn't stop in the air. The company is also extending its luxury offerings to the ground. This includes high-profile sponsorships of prestigious events like the Snow Polo World Cup in St. Moritz, where owners enjoy private invitations and VIP access. These exclusive experiences help position Flexjet not just as a private aviation company, but as a lifestyle choice for those who appreciate the finer things in life.
Yahoo
29-03-2025
- Business
- Yahoo
Why Embraer SA (ERJ) Is Surging In 2025?
We recently published a list of . In this article, we are going to take a look at where Embraer SA (NYSE:ERJ) stands against other aerospace stocks that are surging in 2025. The aerospace industry is riding a wave of growth as global conflicts across the world have sparked a surge in demand. This has led to swelling backlogs and a flood of orders from every corner of the globe. Meanwhile, recent administration changes in the United States have shaken things up. European countries are ramping up their aerospace orders and are eager to secure advanced technology. Some nations have hesitated over U.S. orders amid shifting policies, but cancellations seem unlikely since trade wars have simmered down a bit. Beyond geopolitics, the industry is buzzing with other trends. The commercial aviation sector is roaring back with record passenger traffic. This has pushed airlines to modernize fleets with fuel-efficient aircraft. Moreover, AI software is making defense aircraft more potent, and the entire industry has seen a bump in growth. For this article, I screened the best-performing aerospace stocks year-to-date. I will also mention the number of hedge fund investors in these stocks. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). An engineer examining a detailed blueprint of an aircraft. Number of Hedge Fund Holders In Q4 2024: 27 Embraer SA (NYSE:ERJ) makes aircraft and systems across commercial aviation, defense and security services. The stock is up significantly so far in 2025 as Embraer secured its largest-ever executive jet order from Flexjet for up to 182 aircraft, including Praetor and Phenom models. This deal significantly boosted investor confidence. The order increased Embraer's backlog by 26% to $29 billion and positioned the company as a leader in the business jet market. ANA Holdings also ordered 20 E190-E2 aircraft. On top of that, Embraer announced a share buyback program for up to 1,066,667 shares. The company released optimistic projections for 2025 and expects revenues between $7 billion and $7.5 billion and free cash flow of $200 million or higher. The consensus price target of $44.5 implies 9.11% downside. ERJ stock is up 33.29% year-to-date. Overall, ERJ ranks 6th on our list of aerospace stocks that are surging in 2025. While we acknowledge the potential of ERJ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ERJ but that trades at less than 5 times its earnings, check out our report about the . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Chicago Tribune
19-03-2025
- General
- Chicago Tribune
NTSB initial report details moments leading up to near-collision at Midway
A Southwest plane passed less than 200 feet behind a business jet at Midway Airport last month as the two nearly collided, a preliminary report from federal investigators shows. As the captain of the business plane, operated by Flexjet, approached the Southwest aircraft's designated runway, he mistook it for a different runway, he told investigators. The crew of the plane looked both ways as they approached the intersection but didn't see the Southwest plane. The Southwest crew, meanwhile, saw the business plane approaching their runway but assumed it would stop, according to the report. When the first officer realized the smaller plane wasn't stopping, he called for the captain piloting the commercial jet to pull back up in a maneuver called a 'go-around.' The findings are part of an initial report on the near-collision issued by the National Transportation Safety Board. The federal agency is continuing to investigate, but the preliminary report sheds more light on the circumstances surrounding the close call. Video showed Southwest Flight 2504 from Omaha, Nebraska, preparing to land shortly after 8:45 a.m. Feb. 25 when it abruptly changed plans. The large jet had nearly touched down when the smaller Flexjet plane, about to head to an airport outside Knoxville, Tennessee, began to cross the runway in front of it. The Southwest plane pulled up and ascended and the smaller plane proceeded across the runway, the video showed. The near-collision was not the first time in recent years aircraft have come so close to colliding at Midway that the FAA took note. But aviation experts have said aborted landings are not entirely unusual, and pilots train to handle such situations. The day after the close call NTSB Chair Jennifer Homendy said the business jet crew appeared to fail to follow instructions. 'We don't believe that this was an air traffic control issue,' she said on 'Fox & Friends.' 'It appears this was a failure of the flight crew from Flexjet to listen and abide by the instructions of air traffic control.' The preliminary report describes the actions of the Flexjet crew leading up to the moments the small plane crossed the Southwest jet's runway. After completing pre-flight checks and boarding a passenger, the crew called ground control and asked for taxi instructions. The directions didn't make sense to the crew, and when they asked for clarification they were given an alternate route. As they taxied, ground control issued instructions that the crew at first read back incorrectly. The controller repeated the instructions, and this time the crew read them back correctly. At one point, the crew didn't see the runway markings or signs they would have expected to indicate where they were, though the sun made visibility difficult, the crew told investigators. They mistook their location, and as the plane approached the runway where the Southwest flight was to land, the captain thought it was a different crossing. The ground controller instructed the Flexjet plane to stop as it approached the Southwest plane's runway, but 'the transmission was not acknowledged,' according to the report. Later, after crossing the Southwest runway, the plane was directed to head off to a section of the airport and call the control tower. In a statement, a Flexjet spokesperson noted the investigation is continuing. 'We are still in the process of an ongoing investigation,' the company spokesperson said. 'Any action to rectify and ensure the highest safety standards will be taken.' Southwest Airlines did not comment. The Chicago Department of Aviation declined to comment beyond saying 'safety remains the highest priority at Chicago's airports,' citing the ongoing investigation. The Southwest plane made an 'uneventful' landing minutes after the near-collision, the NTSB report noted. The Flexjet plane took off about 25 minutes later. None of the 142 people aboard the Southwest flight or the three people on the Flexjet plane were injured, and neither aircraft was damaged.
Yahoo
19-03-2025
- General
- Yahoo
NTSB probe of Chicago Midway near miss reveals sun glare as possible contributing factor
Sun glare may have been a contributing factor in the recent near miss involving a Southwest Airlines jet at Chicago Midway International Airport, a preliminary report by the National Transportation Safety Board (NTSB) revealed. The Southwest Airlines flight was forced to perform a go-around maneuver while coming in for a landing when a smaller Flexjet aircraft began taxiing across the plane's path on the runway on Feb. 25. The incident was captured in a dramatic video. The NTSB's preliminary report said the flight crew of the Flexjet plane was instructed by ground control to "turn left onto runway 04L, cross runway 31L and then hold short of runway 31C," where the Southwest plane was arriving. "According to post-incident statements, the flight crew of LXJ560 indicated that as they turned left onto runway 4L/22R, the sun was impeding visibility from the right side of the aircraft" -- the direction in which the Southwest jet was heading towards them, the report said. Southwest Flight Barely Misses Collision At Chicago Midway International Airport It added that the Flexjet flight crew "did not recall seeing any hold short line/pavement markings or any other signs for the 31L intersection as they taxied onto runway 04L/22R. Read On The Fox News App "They further stated that runway 13R/31L appeared to have a very similar width to taxiways and that they had not recognized it as a runway," the NTSB report also said. "The captain stated that as he approached runway 13C/31C he had thought it was runway 13R/31L. As they approached the runway intersection the crew stated they both looked to the left and to the right and did not observe the SWA [Southwest] airplane on final." "As LXJ560 approached the hold short line for runway 31C the ground controller instructed LXJ560 to hold short, but the transmission was not acknowledged," according to the NTSB. Ntsb Blames Southwest Chicago Near Miss On Flexjet Crew 'Failure' To Listen To Air Traffic Control Following the incident, the captain of the Flexjet aircraft parked the plane and "subsequently contacted the operator to notify them of the possible pilot deviation, assessed their wellbeing to continue the flight, and subsequently departed about 25 minutes after the runway incursion," the NTSB added, Southwest Flight 2504 from Omaha, Nebraska, ultimately landed safely, having performed the precautionary maneuver to avoid "a possible conflict" with the Flexjet aircraft, Southwest said in a statement to Fox News at the time of the incident. "The crew followed safety procedures and the flight landed without incident," a Southwest spokesperson told Fox News in a statement. "Nothing is more important to Southwest than the safety of our customers and employees." "We are aware of the occurrence... in Chicago," added a Flexjet spokesperson in a statement. "Flexjet adheres to the highest safety standards and we are conducting a thorough investigation. Any action to rectify and ensure the highest safety standards will be taken." Fox News Digital's Stephen Sorace and Greg Wehner contributed to this report. Original article source: NTSB probe of Chicago Midway near miss reveals sun glare as possible contributing factor
