Luxury in the Skies, Roots in Cleveland

When Kenn Ricci started Directional Aviation over 40 years ago, he couldn’t think of a better place to do it than in his hometown. Today, the Northeast Ohio company owns Flexjet, the global leader in private aviation, with unique aircraft that offer one-of-a-kind experiences.

“It’s just our home,” says Michael Silvestro, Flexjet’s CEO. “(Ricci) was born here. I was born here. Mike Rossi (Flexjet’s CFO) was born here. You end up just investing where you are and building the business, and Cleveland’s been a great place to live and work.”

Ricci founded the company in 1981 as a small charter service. In 2013, the company acquired Flexjet for $195 million. Customers of Flexjet buy shares or lease private planes that are decked out in ultra-modern decor and technology, such as satellite internet provider Starlink. The fleet of over 300 planes is tracked from an operations center based at the Cuyahoga County airport. 

Now, the company is reaching new heights. This year, it secured an $800 million equity investment from consumer-focused investment firm L Catterton, the largest in the history of private aviation. This infusion enables Flexjet to modernize and differentiate its flying experience among its competitors. 

Flexjet offers more than 50 unique custom decors that are exclusive to customers who fly with them. The 15-passenger Gulfstream G700, for example, is fitted for luxury and comfort, with amenities such as sleek interior design, a circadian lighting system that mimics the sun, and a queen-size bed. Meanwhile, the Sikorsky S-76 is an eight-person helicopter with sleek black and walnut interior and gold accents. These designs are either crafted by Flexjet’s in-house team or through collaborations with experts as diverse as the Ferretti Group, known for its iconic Riva motor yachts, and a winner of a design contest, a student from Embry-Riddle Aeronautical University.

“It’s the difference between staying at a chain motel and staying at a very high-end, luxurious boutique hotel. Every room isn’t the same,” Silvestro says. 

Unique vessels and interior designs only begin the journey. Flexjet offers exclusive curated travel experiences, only available to owners of its aircraft.

“We’re not just about a utilitarian transporting people from point A to point B, we are all about these luxurious, memorable experiences,” Silvestro says.

Flying comes in many forms at Flexjet. Spending more than 50 hours in the sky this year? Fractional jet ownership or jet leasing might be for you. Or dip your toes with the Flexjet 25, a jet card membership for those who expect to fly less than 25 hours a year.

The customer base for private aviation is trending younger, which aligns with the investments in modern amenities that Flexjet is making. Now, the $800 million boost will help the company do it in style.

“(This investment) solidifies this concept that time is the ultimate luxury, only followed by health and wellness. And none of us can buy any more hours in a day than what 24 hours yield us,” Silvestro says. “But in terms of moving yourself around in a fashion that private aviation affords you, as well as to be transported in a luxurious way, I think, plays right into what our strength here is at Flexjet.” 

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