Flight Options Press Release

Flight Options Obtains $20 Million for Expansion

August 16, 1999 - Flight Options Inc., the fastest growing national fractional jet ownership company, announced today that it obtained $20 million for expansion in a deal with Monitor Clipper Partners, a leading international strategy consulting and private equity investment firm. 

Kenn Ricci, Chairman and CEO said, ”The capital will be used to accelerate our ability to respond to the phenomenal demand we have received for our program.  It will allow Flight Options to build the ideal infrastructure required to grow our program and to increase the pace of our aircraft purchases.”

Flight Options began its pre-owned fractional program in October 1998 and announced it’s 100th customer in June of 1999, making it the fastest growing fractional program.  Flight Options Inc., a division of Corporate Wings Inc., features fractional ownership programs for new and previously owned business jets including the Citation II, Beechjet 400A's, Hawker 800 and Challenger 601. Flight Options recently announced an order valued at $760 million for the purchase of 25 Envoy 7 intercontinental business jets.

Based in Cleveland, Ohio, Flight Options was formed last year with an emphasis on bringing value-added jets to the fractional ownership market."

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