Issa brothers finally repay EG Group loan used to buy private jet Business The Issa brothers have finally repaid the huge loan they borrowed from their own forecourt and retail empire to buy a private jet, Morning Wire can reveal. The billionaire duo had owed as much as $41m (£31m) to EG Group via an Isle of Man-based company they controlled called Clear Sky 2, which was used [...]
NetJets: Losses spike at Warren Buffett’s private jet company Transport and infrastructure Losses at the UK arm of NetJets, the private jet company owned by Warren Buffett’s Berkshire Hathaway more than doubled during its latest financial year, it has been revealed. The division has posted a pre-tax loss of $11.2m (£8.4m) for 2024, new accounts filed with Companies House show. The total comes after NetJets UK also [...]
Flexjet: Private jet giant valued at $4bn after mega funding round Aviation Flexjet, the world’s second-largest private jet company, has been valued at around $4bn (£2.9bn) after securing $800m in new funding. The US firm’s latest funding round has been led by private equity giant L Catterton – which itself is backed by luxury group LVMH. Other backers of the round include KSL Capital Partners and J. [...]
We can have our cake and eat it, says boss of London private jet hub November 19, 2024 London Biggin Hill Airport chief executive David Winstanley argues business aviation can decarbonise without slowing growth.
Cost still biggest ‘blocker’ of SAF uptake, says Biggin Hill airport boss September 19, 2024 Airlines are banking on SAF, a biofuel drawn from cooking oil, to hit looming green targets across Europe without cutting flights.
Sometimes, the right CEO is worth a private jet September 2, 2024 Starbucks CEO Brian Niccol has attracted controversy for commuting by private jet, but in an increasingly complicated global business environment it can take sky-high perks to attract the right talent, says Katie Sharpe Finding the perfect CEO in the corporate world is a mission that requires as much creativity as it does mere financial resources. [...]
Flexjet: Increasing popularity of private jets helps UK sales soar August 20, 2024 The UK arm of private jet company Flexjet is eyeing further growth in Europe after increasing its sales and cutting its pre-tax loss during its latest financial year. The London-based division of Flexjet, which operates in the fractional ownership market, has posted a turnover of £40.9m for 2023, up from £38.4m in 2022. Newly-filed accounts [...]
Why are private jets so irresistible to the country’s bigwigs? May 13, 2024 City bigwigs and politicians seem set on using private jets to get around. Should we be up in arms or is it vital for efficiency?
Billionaires, showrooms and mega-deals: Inside London’s private jet scene April 30, 2024 From glitzy Mayfair showrooms to the City's secretive airports - Guy Taylor takes a closer look inside London's private jet scene
London’s ultra wealthy have ‘moved out’ since Brexit, says top private jet dealer April 30, 2024 Brexit, changes to non-dom status tax rules and the Russia-Ukraine war has led to a slump in sales of private jets in London, a top dealmaker has said.