Raytheon has sold Flight Options
10-25-2007, 11:12 AM
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Raytheon has sold Flight Options
Here's a link to the story:
http://www.bizjournals.com/southflor...2/daily38.html
============================
H.I.G. Capital LLC said it plans to buy Raytheon Co.'s luxury jet division.
The Miami-based private equity firm said it is buying Cleveland-based Flight Options LLC for an undisclosed amount. It expects the deal -- which is subject to government approval -- to close by the end of the year.
Flight Options is a private jet aviation company that runs a fleet of 130 luxury aircraft. Business and high-net-worth individuals can enter into partial ownership programs of the jets, and Flight Options offers a JetPass prepaid card plan for travelers.
Flight Options also began offering aircraft management services this year.
In 2002, Waltham, Mass.-based Raytheon formed a joint venture with Flight Options Inc. by contributing its Raytheon Travel Air fractional ownership business and a $20 million loan to create Flight Options LLC. Raytheon became the full owner of Flight Options by buying out the remaining equity interest in 2005 for an undisclosed amount.
http://www.bizjournals.com/southflor...2/daily38.html
============================
H.I.G. Capital LLC said it plans to buy Raytheon Co.'s luxury jet division.
The Miami-based private equity firm said it is buying Cleveland-based Flight Options LLC for an undisclosed amount. It expects the deal -- which is subject to government approval -- to close by the end of the year.
Flight Options is a private jet aviation company that runs a fleet of 130 luxury aircraft. Business and high-net-worth individuals can enter into partial ownership programs of the jets, and Flight Options offers a JetPass prepaid card plan for travelers.
Flight Options also began offering aircraft management services this year.
In 2002, Waltham, Mass.-based Raytheon formed a joint venture with Flight Options Inc. by contributing its Raytheon Travel Air fractional ownership business and a $20 million loan to create Flight Options LLC. Raytheon became the full owner of Flight Options by buying out the remaining equity interest in 2005 for an undisclosed amount.
10-26-2007, 03:54 AM
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Gets Weekends Off
Joined APC: Nov 2006
Position: DC-10 FO
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10-29-2007, 09:53 AM
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Joined APC: Feb 2007
Position: El Capitan
Posts: 149
They are trying to consolidate all of their 135 certs under one canopy (name). I think it's business as usual over there as of now. But that will definately change.
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