FlexJet / Flight Options / SkyJet

[Frac Cap]

Actually I would think they invested in DAC which purchased Flex who also owns Flops.

 

[luckydog]

Actually I would think they invested in DAC which purchased Flex who also owns Flops.

Actually you would be incorrect according to the September 5 press release:

Dallas, September 5, 2013 ? After 18 successful years as Bombardier?s fractional jet ownership
division, Flexjet today announced a definitive agreement for its purchase by a group led by
Directional Aviation Capital through a newly-formed entity, Flexjet, LLC. With support from its new
investors, Flexjet is placing the largest private aviation order in its history valued at approximately
$5.2 billion for up to 245 Bombardier business jets. The transaction for the sale of Flexjet is
expected to close by the end of the year.

It's on the internet so it must be true.

 

[V1 Rotate]

Actually you would be incorrect according to the September 5 press release:

Dallas, September 5, 2013 ? After 18 successful years as Bombardier?s fractional jet ownership
division, Flexjet today announced a definitive agreement for its purchase by a group led by
Directional Aviation Capital through a newly-formed entity, Flexjet, LLC. With support from its new
investors, Flexjet is placing the largest private aviation order in its history valued at approximately
$5.2 billion for up to 245 Bombardier business jets. The transaction for the sale of Flexjet is
expected to close by the end of the year.

It's on the internet so it must be true.

In this case, the internet is true.

 

[Club ORD FO]

yeah we have been told that the investors put money in flexjet specifically and have no stake in options. I don't pretend to know any specifics, but thats what we've been told.

 

[Frac Cap]

Then how are they able to combine various departments with Flops and bring the CL 300 program over without diluting the investors equity from the Flex investors unless they have equity in DAC which also owns Flops. I will freely admit it is way over my expertise or knowledge on how they set up investment equity.

 

[gret]

A very productive statement. Did you get the point?

No.....

 

[slowtation capt]

I would expect you to start having 24 hour maintenance in the hear future. Writing up an airplane at 10p won't mean your trips are cancelled.

Well we wrote up an airplane last night.
I was just waiting for them to say, okay thanks, we have cancelled your trips at 7 am.
Instead the nerve of our maintenance, they said, please leave a key with the fbo. Never heard that saying before. Luckily I just happen to keep a spare key in my bag because I thought this procedure was getting ready to happen any day now.
And damn it, they got it fixed, we took off on time at 7 am.

I guess it's working, your practices are starting to infiltrate into Flops.

 

[luckydog]

Then how are they able to combine various departments with Flops and bring the CL 300 program over without diluting the investors equity from the Flex investors unless they have equity in DAC which also owns Flops. I will freely admit it is way over my expertise or knowledge on how they set up investment equity.

That is a good question. As I understand it, the resources to fly the trips still belong to Flex, the trips are only being marketed through the FO store front... whatever that is. So there is no transfer of equity required.

 

[Frac Cap]

Not required yet for trips yet to be flown. But the companies are definitely starting to get commingled.

 

[GlorifiedCabbie]

Didn't KR and FO get sued for "dilution" of the owner's equity in the past? When was that 2009?