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Article: PRIVATE PRACTICE; With a new fleet and simplified business plan, Flight Options is taking advantage of for-hire flying's growing popularity.(Insight)(Company overview)
- Article from:
- Crain's Cleveland Business
- Article date:
- December 24, 2007
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: JAY MILLER
Flight Options LLC is changing its flight plan.
A new owner, new aircraft and an expanded view of what business it's in are giving the private air carrier based in Richmond Heights an improved outlook for 2008 and beyond.
Flight Options announced Dec. 3 an agreement to spend nearly $1 billion to buy over the next 10 years 100 Phenom 300 light jets from aircraft maker Embraer of Brazil. Flight Options also has an option to purchase 50 more of the craft, which if exercised would double its fleet from the current 140 aircraft.
That expansion is possible because of a cash infusion from Flight Options' new owner, H.I.G. ...