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Article: Raytheon to pilot Flight Options.(Raytheon to be majority owner of Flight Options)
- Article from:
- Crain's Cleveland Business
- Article date:
- April 7, 2003
CopyrightCOPYRIGHT 2003 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: JEFF STACKLIN
In a much-anticipated move, defense contractor Raytheon Co. soon will become the majority owner in Flight Options LLC, a Richmond Heights company that sells fractional ownership interests in corporate jets.
Flight Options CEO John Nahill, a former Raytheon vice president who took the Flight Options job in February, said the ownership transition is in the paperwork stages and ``we expect that transaction to occur in the next few weeks.''
Terms of the deal, including how much more equity Raytheon will have in Flight Options, were not disclosed. In March 2002, Raytheon's Travel Air fractional jet ownership unit formed a joint ...