ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Flexjet Acquires Constant Aviation

CLEVELAND, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Flexjet, a global leader in subscription-based private aviation, today announced it has acquired Constant Aviation, a leading provider of aviation maintenance, repair and overhaul (MRO) services.

 

“Integrating Constant Aviation into Flexjet is part of an overriding strategic vision to differentiate Flexjet among its competitors at the most fundamental level. Typically, other companies in our space rely largely on third-party providers to meet their global product support and maintenance needs. This not only limits their overall ability to meet the needs of their customers, but it also takes control away from operators and limits their ability to deliver the highest possible levels of service,” said Jay Heublein, Flexjet Senior Vice President of Maintenance. “This historic move by Flexjet represents one of the most significant infrastructure investments in the history of our industry.”

 

Flexjet’s fleet grew by 40 percent in 2022, bringing additional demands for maintenance services. Integrating Constant into Flexjet will address this need, adding capabilities including:

 

  • Complete airframe, engine and avionics maintenance capability
  • Industry-leading paint and interior modification and refurbishment capability
  • Advanced in-house engineering and avionics installation
  • Heavy maintenance, engine and component overhaul
  • Damage repair, composite and sheet metal repairs and non-destructive testing
  • Parts support and distribution

 

As part of the transaction, Flexjet will acquire Constant’s facilities at Cleveland Hopkins International Airport (ICAO: KCLE) and Orlando Sanford (Florida) International Airport (ICAO: KSFB). Flexjet plans to build new facilities at Sanford, significantly expanding its maintenance footprint in the heart of Florida’s high-volume private jet travel corridors, to a total of 220,000 square feet. Flexjet’s maintenance facility footprint now covers 650,000 square feet in Cleveland, OH; Teterboro, NJ; Naples, FL; Dallas, TX; White Plains, NY; Sanford, FL; and Morgantown, WV.

 

Flexjet also gains dedicated access to Constant’s nationwide AOG (Aircraft on Ground) mobile response network, with teams deploying from 28 U.S. locations and the capacity to serve the entire continental U.S. and Caribbean markets. The teams can respond to maintenance requests from aircraft at multiple airports in every region that lacks dedicated facilities.

 

“With Constant’s unique capabilities, along with a proprietary Aircraft on Ground network to handle real-time aircraft issues, Flexjet is not dependent on third-party maintenance to keep its fleet flying regardless of location or conditions,” said Heublein.

 

Constant Aviation recently expanded its MRO capabilities beyond its portfolio of business jets and other fixed-wing aircraft to include rotorcraft such as helicopters, drones and other commercial Unmanned Aircraft Systems (UAS). Accordingly, it will be able to support Flexjet’s new private helicopter division, which operates in the U.S. in the Northeast and South Florida and in Europe based out of London, U.K.

 

All of Constant’s existing team members will join Flexjet and, in addition, Flexjet plans to hire nearly 200 more technicians over the next 12 months. Constant has been an MRO industry leader in workforce development and training initiatives to grow an industry-wide talent pool for technicians that has been shrinking. Those initiatives will carry over to Flexjet, which recently graduated its first class of apprenticed Airframe and Powerplant (A&P) technicians.

 

About Flexjet

Flexjet, a global leader in subscription-based private aviation, first entered the fractional jet ownership market in 1995. 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 24 FAA Diamond Awards for Excellence, upholds an ARG/US Platinum Safety Rating, a 4AIR Bronze Sustainable Rating and is IS-BAO compliant at Level 2. Red Label by Flexjet, a market differentiator, which features the most modern fleet in the industry, flight crews dedicated to a single aircraft and the LXi Cabin Collection of interiors. To date there are more than 40 different interior designs across its fleet, which includes the Embraer Phenom 300 and Praetor 500, Bombardier Challenger 350, the Gulfstream G450 and G650. Flexjet’s European fleet includes the Embraer Praetor 600 and the Gulfstream G650. Flexjet’s helicopter division sells fractional, lease, and on-demand charter access to its fleet of owned, operated and maintained 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 southern Florida. Flexjet is a member of the Directional Aviation family of companies. For more details on innovative programs and flexible offerings, visit www.flexjet.com or follow us on Instagram @FlexjetInc.

Attachment


Susan Ruiz Patton
Flexjet
2163339526
susan.ruiz.patton@flexjet.com
Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.