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Article: PREPARE FOR TAKEOFF: FLIGHT OPTIONS READY TO FLY HIGH AFTER SECURING $20M.(Statistical Data Included)
- Article from:
- Crain's Cleveland Business
- Article date:
- August 23, 1999
- Author:
CopyrightCOPYRIGHT 1999 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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Flight Options Inc. of Richmond Heights has landed $20 million from a private equity investment firm in Massachusetts to fuel further growth of its fractional jet ownership business.
The investment by Monitor Clipper Partners of Cambridge, Mass., will enable Flight Options to strengthen its balance sheet to support a faster pace of airplane acquisitions, said Kenn Ricci, chairman and chief executive officer of Flight Options and of its parent company, air charter business Corporate Wings Inc. Mr. Ricci said Flight Options since its launch last October has signed up 135 customers to buy partial ownership stakes -- usually one-eighth or one-quarter shares -- in ...