by jhebert
1. April 2009 03:24
Direction Capital and Resilience Capital Partners have started increasing their financial stake in fractional-share operator Flight Options and own a majority of the company. The Flight Options management team also took part in the investment. Kenn Ricci, the chairman and founder of Flight Options is also the head of Direction Capital. HIG Capital purchase Flight Options from Raytheon in 2007 and will remain an investor. The management of the two private equity firms thought it was a great investment for the company according to Flight Options CEO Mike Silvestro. Flight Option temporarily laid off 105 personnel in March. The company claims to be in good shape because they have taken hits to keep costs reasonable for customers in the economy.
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