Keep pulling the thread on Alan Walsh.
Private equity firm L Catterton, backed by Bernard Arnault, led an $800 million equity investment in Flexjet.
A Bloomberg Intelligence report suggests the private aviation market, which boomed during the pandemic, could decline due to slowing economies and higher fuel prices resulting from the war in Iran.
A potential downturn in the private aviation market could disrupt business plans for charter and fractional operators, possibly causing some to shrink or exit the market.
Higher fuel prices are not currently having a material impact on Sentient Jet's business.
Sentient Jet passes on additional fuel costs to its customers through fuel surcharges that are adjusted on a monthly basis.
Private aviation flights in North America increased by 11% year-over-year in April.
Global private aviation flights increased by 5% year-over-year in April.
Sentient Jet has a customer base of 6,700 card owners.
Within the Directional Aviation portfolio, FXAIR focuses on the charter market, Sentient Jet on the jet card market, and Flexjet on the fractional lease business.
Sentient Jet utilizes approximately 35% of the available network of private jet operators in the United States.
The strategy of Directional Aviation is to provide a "one-stop shop" allowing customers to move between its brands like Sentient Jet and Flexjet as their flight needs change.
Wheels Up, a publicly traded competitor, has experienced a significant stock price decline and is in the midst of a turnaround to address publicly documented challenges.