Flexjet Fastest First

opinion

by Alasdair Whyte

November 18, 2015

Flexjet Naples FBO and hangar

NOTE: The below originally appeared as the editorial in our November 18 One Minute Week newsletter. To find out more, and sign up for free, please click here.

Flexjet has dominated the news at NBAA 2015 with its order for 20 Supersonic Aerion AS2 aircraft. It actually stole the limelight from its own firm order for 20 Challenger 350s (converting options from its 2013 order).

The Directional Capital owned-company is the first named buyer for the $120 million aircraft. At list prices (which it will not be paying) this would be a $2.4 billion order.

Kenn Ricci, founder of Directional Capital, said: “We have been looking at supersonic aircraft for a long time and we want to continue to be at the forefront of business aviation.

The AS2 aims to fly at Mach 1.5 over water and carry up to 12 passengers. It will have a range of 4,750 nautical miles.

Aerion plans to announce where the aircraft will be built next year and is also choosing between engine suppliers. It aims to deliver the first aircraft in 2023. It is working with a number of brokers to sell the aircraft and is asking for 20% deposits. (Directional will also have negotiated this.)

Although Flexjet is best known as a fractional it is not planning to sell shares in the Aerion Aircraft, it plans to charter out the aircraft as part of its Global Access programme. It is using a similar strategy for the G650 aircraft that it has ordered. Ricci expects the aircraft to mainly be used flying between New York and London.

Mike Silvestro, CEO of Flexjet added: “Who else is making such exciting news in business aviation.”