Bombardier To Sell Flexjet On Back Of Huge Order

Bombardier is to sell its fractional jet operation, Flexjet, to a US buyer which in turn has placed an order for up to 245 Bombardier business jets. A group led by Directional Aviation Capital, an aviation private investment, will buy Flexjet for £185m. In a separate deal, the investor has also placed a firm order for 85 business jets, worth $1.8bn at list prices. However, with an extra 160 options, the deal could be worth as much as $5.2bn at list prices. The order includes the next-generation Challenger 350, Challenger 605, Learjet 75 and Learjet 85 aircraft. Having owned Flexjet for 18 years, Bombardier is now selling the company in order to focus on its core business. Deanna White will continue to lead Flexjet under its new ownership.

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