Flexjet Acquires The Jet Business, Names Varsano President

Flexjet has acquired London-based aircraft brokerage The Jet Business, building on the fractional ownership provider’s reach in the private aircraft sales, procurement, and advisory segments, the company announced today. Terms of the acquisition were not disclosed.

As part of the acquisition, Flexjet is merging its FXSolutions brokerage with The Jet Business under a single platform. The Jet Business will retain its brand while tapping into the expanded resources, infrastructure, and global reach that Flexjet brings.

Steve Varsano, the well-known industry leader and founder of The Jet Business, was named president of Flexjet and will be tasked with focusing on international product innovation and global expansion.

As a result, The Jet Business will expand Flexjet’s European footprint, which includes a sales center in London’s Mayfair district and a tactical control center at Farnborough Airport. Flexjet is further planning to open a terminal at Farnborough Airport in the next few months in what will be the company’s largest infrastructure project outside the U.S.

In addition, The Jet Business will support the acquisition of aircraft entering the Flexjet fleet, as well as the transition for those exiting service. Flexjet said the integration of the aircraft acquisition and disposition capabilities within its global platform will provide it with greater strategic control over quality, modernization, and life cycle planning of its global fleet, which numbers more than 340 aircraft.

Meanwhile, The Jet Business clients will have access to a new offering, Flexjet Solutions, which will include aircraft operational support, pre-purchase inspections, maintenance infrastructure, AOG response resources, and aircraft management.

“A core tenet of our luxury strategy is maintaining one of the youngest and most modern fleets in the industry. To do that effectively requires sophisticated capabilities around aircraft remarketing and transition planning,” said Flexjet chairman Kenn Ricci. “This acquisition strengthens our platform to move aging aircraft gracefully out of the fleet, while introducing next-generation aircraft into service for our fractional owners. By continuing to gain greater control of key aspects of our industry ecosystem, Flexjet is constantly elevating customer experience and innovating product offerings in a way that truly redefines private aviation today.”

Varsano added: “We are well aligned in our belief that clients, at the very top of this market, are seeking far more than access to aircraft. They want trusted solutions that are designed around their needs, delivered by experts, and presented in style.”