What Flexjet’s $800 Million Funding Means for Luxury Air Travel
by Laura Ratliff
Photo: Courtesy of Flexjet
Flexjet has secured a record-setting $800 million equity investment led by L Catterton, the LVMH-backed private equity firm, valuing the fractional jet operator at $4 billion. But the more compelling story lies not in the valuation: It’s how the investment may reshape what luxury clients expect from private air travel.
The backing from L Catterton creates a deeper convergence between private aviation and LVMH’s broader ecosystem of lifestyle-led luxury brands, which includes Belmond, Cheval Blanc, and Bvlgari Hotels. Flexjet Chairman Kenn Ricci has long viewed the company as more than just a jet operator. “We try to create a community,” he told The Wall Street Journal, describing Flexjet’s membership model as one that functions “much like a country club.”
Already, Flexjet has moved far beyond standard flight operations. Its Red Label program offers aircraft with dedicated crews and bespoke interiors. Eleven private terminals (with more coming) deliver a white-glove, ground-to-airport-to-air experience. Helicopter access is integrated for last-mile service in cities like New York and London. And curated events, like Chairman’s Club trips to Anguilla or Morocco, private concerts, and co-branded experiences with Riva Yachts and Bentley, make members feel like part of an elite circle, even when their flying needs decrease.
Now, with L Catterton in the fold, Ricci is doubling down on infrastructure, international expansion, and long-range aircraft. A $7 billion deal with Embraer and a growing fleet of large-cabin Gulfstreams reflect increasing demand from a younger, globally mobile clientele. “Our customer base has gotten younger,” Ricci said. “They want their own charters, and they fly a lot farther.”
Flexjet’s evolution is part of a broader industry transformation—from pure transport to holistic lifestyle curation. According to data from AeroDynamic Advisory, the global super-prime jet market reached $22.7 billion in 2024 and is growing at a rate of 7% annually, while private jet deliveries increased by 7.3% in the same year. Meanwhile, Flexjet itself has seen exponential growth in flights to the Middle East since 2021, mirroring the demand for long-haul travel.
