With New Infusion, Flight Options Expands Programs
Raytheon affiliate Flight Options, LLC, said last week that Raytheon Travel Air has purchased an additional $50 million of common equity of the company. The fractional operator also announced it was expanding its so-called "75/25" program, which allows customers to fly aboard two different types of aircraft in the Flight Options fleet after purchasing only a single share. The Cleveland, Ohio, based operator has a fleet of more than 200 aircraft; it is the world's largest operator of Beechjet 400A and Embraer Legacy aircraft. Flight Options' fleet also includes the Hawker 800XP and the Cessna Citation X. "We are well underway on our business plan to replace our older fleets of aircraft where we will focus on those modern fleets with better operating characteristics," said Mark Brody, chief financial officer of Flight Options, LLC. "This additional funding will help us in meeting our business objectives and achieve future success within the industry." Previously, the company's 75/25 program was restricted to the Beechjet 400A/Hawker 400XP and the Hawker 800XP; Flight Options said it will expand the offering to include the Citation X and Legacy. “Flight Options continues to further define the concept that options means more than aircraft,” said Cameron Gowans, chief marketing officer of Flight Options, LLC.