KKR has announced its agreement to invest US$40 million in preferred equity in Jet Edge International (Jet Edge), an Ohio-based global leader in full-service private aviation responsible for operating the largest fleet of Challenger and Gulfstream aircraft available for charter in the United States. KKR is making the investment in Jet Edge through its credit funds and accounts focused on asset-based finance opportunities. The investment follows KKR’s US$150 million credit investment in the Company announced earlier this year.
The new investment will support the growth of Jet Edge’s Reserve membership program and rapidly expanding fleet. Jet Edge will also continue to make advancements in its technology and infrastructure, including optimized scheduling systems, artificial intelligence-based programs to maximize fleet efficiency, and a dynamic mobile application, all to further enhance the Reserve membership experience.
“We’ve successfully executed numerous growth initiatives driven by KKR’s initial financing and are excited to continue to build our platform with this new investment,” said Bill Papariella, CEO of Jet Edge. “We will continue to invest heavily in technology and back-end infrastructure to enhance the customer experience and help us stay ahead of evolving client demands amid rapid membership growth. This financing speaks to KKR’s continued confidence in our business plan to deliver scaled private aviation solutions and we look forward to being able to provide even more clients unique access to our industry leading fleet across all major markets in the United States.”
