Flexjet Legacy 500
The number of aircraft under the banner of Flexjet and its associated companies is 254, including 44 Embraer Legacy/Praetor 500s.

Flexjet Goes Public

All the details about the fractional-share provider’s big announcement.

Private aircraft operator Flexjet recently announced that it will partner with special purpose acquisition company (SPAC) Horizon Acquisition Corporation II to become a publicly traded company on the New York Stock Exchange. The two companies held a joint investor conference call on October 11 to discuss the transaction.

In addition to the Flexjet brand, which offers fractional jet ownership and leasing, the company operates Sentient Jet, which focuses on jet cards; FXAir and PrivateFly, which offer on-demand charter programs; and Sirio, which specializes in full aircraft ownership. Combined, the company’s fleet includes 254 aircraft ranging from the Embraer Phenom 300 to the Gulfstream G650. The fleet also includes 19 helicopters.

Flexjet has projected revenue of $2.3 billion for 2022, and proceeds from the transaction are expected to fund fleet, program, and geographic expansion, along with improvements in infrastructure such as maintenance facilities and private terminals.

“Having capital and currency will position us to expand market share at an accelerated pace in an opportunistic environment,” said Flexjet chairman Kenneth Ricci. “We are making this decision at a time when we believe the marketplace is expanding at a more aggressive rate."

The boards of directors of both companies have approved the proposed deal, which is expected to be completed by mid-2023.