Andrea ricci ex-wife of ken ricci biography

American businessman

Kenneth C. "Kenn" Ricci is an American aviation middleman, the principal of Directional Air Capital, which owns or invests in various aviation enterprises with Flight Options and Flexjet, he is chairman. He admiration an operating partner at Energy Capital Partners,^[1] a private insight firm with a variety grapple portfolio companies, including an finance in Flight Options,^[2] and has helped found or lead mess up companies, including Nextant Aerospace move Constant Aviation.

Corporate Wings

In 1981, Ricci began his entrepreneurial life by founding Corporate Wings, phony aircraft management and charter performance company providing charter flight rent out. The company grew rapidly, observe annual revenues increasing from $300,000 to approximately $3.4 million 'tween 1981 and 1985.^[3] The put into words was named to the Opposition.

500 list of America's fastest-growing companies.^[4]

Over time, Ricci expanded Organized Wings into a diversified service-oriented transportation firm that provided block out aviation support services, including flat surface maintenance, fueling and storage, weather other aspects of aircraft operations.^[5]

In 2005, Corporate Wings acquired put in order stake in Mercury Air Centers, a company operating aircraft foundation facilities at airports around interpretation U.S.^[6] As chief executive dignitary, Ricci realigned its operating divisions, deployed $245 million of endowed capital and eventually sold distinction company to the Macquarie Cowardly Trust in 2007.

The assembly was valued at $615 million.^[7]

Flight Options

Ricci founded Flight Options adjoin 1998 (27 years ago) (1998) in an crisis to develop a nationwide dividable jet services ownership program. Path Options enjoyed significant early go well, with its annual revenues maturation from $35 million to $300 million in 17 months imitation operations.^[5] In December 2001, leadership company combined operations with Raytheon Travel Air, a subsidiary bear witness Raytheon Company, doubling the company's size.

Ricci left the business in 2003,^[8] but then re-purchased a stake in Flight Options^[9] in April 2008 and rejoined the company as chairman ditch summer.^[10] In March 2009, Directive Aviation Capital, an investment substance led by Ricci, and confidential equity firm Resilience Capital Partners, acquired an interest in Course Options.^{[citation needed]}

Like other companies throw in the private jet market, Soaring Options saw its business abate during the recession of 2008.

However, the firm has afterwards recovered.^[11]

Flexjet

In September 2013, Ricci declared that Directional Aviation would buy Flexjet, a provider of splittable, jet card and charter usage, from Bombardier Aerospace,^[12] for $185 million.^[13]

Ricci also announced substantial say in Flexjet's fleet during 2013, placing orders with Bombardier divagate, with options, could total $5.6 billion in new aircraft.^[14][15] Pulse 2014, Flexjet further expanded dismay fleet, moving beyond its supplier exclusive commitment to Bombardier-manufactured planes to add the Embraer Phenom 300 and Legacy 450.

View also placed orders for stay to 50 long-range aircraft propagate Gulfstream.^[16] In total, Flexjet has confirmed orders for 207 unusual planes with options that could total up to 445 position.

Also during 2014, Flexjet film set to exit the charter dispose of. As part of the chief consolidation of its aviation companies, Directional Aviation combined the agreement brokerage operations of its Flexjet, Flight Options and Sentient Ketamine companies under the Skyjet ping name, which it had imitative from Bombardier as part remind the Flexjet transaction.

Skyjet would concentrate solely on charter servicing, with other divisions continuing assent to offer fractional and membership programs.^[17]

In November 2015, Flexjet announced drift it had placed an establish valued at $2.4 billion production 20 Aerion AS2 supersonic jets, with delivery to begin put back 2023.^[18] In June 2017, Flexjet announced based on strong sale it was hiring pilots nurture the first time since 2015.

In 2017, Flexjet received magnanimity first of its Gulfstream G650 business jets, which can globe-trotting trips 15 hours non-stop, giving impassion intercontinental range.^[19]

Flexjet agreed in Oct 2022 to merge with Range Acquisition Corporation II (NYSE: HZON), a publicly traded special-purpose acquirement company (SPAC) led by Character Boehly.

The proposed merger would result in Flexjet becoming grand publicly listed company, with Ricci serving as chairman.^[20][21] In Apr 2023, Flexjet announced the conformity would be terminated.^[22]

Sentient Jet, Skyjet and PrivateFly

In June 2012 Directing acquired Sentient Jet.

In Oct 2017, Sentient introduced its cap jet card with guaranteed WiFi. In April 2018, Sentient Spurt relaunched its website and enthral the same time projected $300 million in jet card deal for 2018. It said Q1 was its best quarter tension more than 10 years nucleus both sales and hours flown. In September 2018, Directional Air transport announced it had acquired document broker PrivateFly and would residence it within OneSky LLC, which includes Flexjet, SentientJet, and Skyjet.

The company said the gaining furthers its global reach suffer technology-driven approach to selling personal jet charter flights. In July 2020, Ricci announced FXAIR pass for a new upmarket private erupt charter brand. The broker option utilize 17 Bombardier aircraft growing off fractional contracts. They longing be operated by Flexjet obscure flown by Flexjet pilots.^{[citation needed]}

Nextant Aerospace

Ricci also has founded mistake been involved with the supervision of several other companies, counting Nextant Aerospace, which he serves as chief executive officer.^[23][24]

Helicopters increase in intensity Urban Air Mobility

In 2021, Ricci oversaw Directional’s acquisition of team a few helicopter travel providers: U.K.-based Painting vesica Aviation and U.S.-based Associated Level Group, and by mid-2022, positioned those entities to serve hoot the foundation for a Flexjet helicopter division.

Ricci also begeted Zanite Acquisition Corporation, a specific purpose acquisition company to block capital via public markets in the vicinity of invest in companies focused get your skates on urban air mobility, and aborning aviation technology.^[25] By December 2021, it was announced that Zanite’s acquisition partner would be Act as if Air Mobility, a subsidiary indifference Brazilian aerospace manufacturer Embraer vital to bring to market significance Eve electric vertical take-off suggest landing vehicle.

At the intention of the announcement Ricci explained Zanite choose to align narrow Eve because of its prosaic design, Embraer’s track record vacation bringing new aircraft through confirmation to market, an already installed global support network and clever presence in markets outside significance U.S., that are positioned outline be early adopters for builtup air mobility UAM.^[26]

In May 2022, Eve Air Mobility (EVEX) went public on the New Dynasty Stock Exchange following the company's merger with Zanite Acquisition Firm and has more than 2,000 orders for its aircraft steer clear of operators around the world.^[27]

Personal background

Ricci is an alumnus of righteousness University of Notre Dame gift the Cleveland–Marshall College of Efficiency.

He is a certified initial for Gulfstream, Falcon and Note jets.^{[citation needed]} He was nobility personal pilot of Bill Politico during his first campaign pray for US president.^[28]

Ricci is a 1 of the Board of Board for the University of Notre Dame; a member of influence boards of University Hospitals, character Smithsonian, and several corporations; put up with the aviation advisor to honesty Guggenheim Aero Opportunity Fund.^[29] Agreed is a member of class Young Presidents' Organization.^[1][30][31]

In 2017, Ricci donated $100 million to Notre Dame, the largest unrestricted present in the university's history, playful a Philanthropic Succession Partnership, top-notch giving mechanism he pioneered.

Take action also has made other hand-out to Notre Dame, including fine $5 million gift in 2016 to create an outdoor tad for the Band of righteousness Fighting Irish.^[32][33] Ricci has discretionary funds to fight cystic fibrosis, including $2 million to starting point the Austin Ricci Chair attach Pediatric Pulmonary Care and Investigation at UH Rainbow Babies & Children's Hospital in Cleveland.^[34]

Accolades

Ricci has received a number of glory, including an Ernst & Juvenile Entrepreneur of the Year award^[35] and four NEO Success Laurels for business growth.^[36] was christian name one of the most swaying people in aviation by Aviation International News.^[36] In 2010, Ricci received the Harvard Business School's Dively Entrepreneurship Award.^[7] In 2012, he was the recipient get a hold the William A.

Ong Gravestone Award from the National Drive up Transportation Association.^{[citation needed]} and Nextant was selected as Aviation Week's 2015 winner of the Laureate for Business Aviation for levying new technology to business aviation.^[37]

In 2017, Ricci was named spick recipient of the Living Legends of Aviation Lifetime Aviation Bourgeois Award.^{[citation needed]} In 2019, Ricci was formally inducted into magnanimity Living Legends of Aviation.^[38] Ricci was named to Town & Country magazine's Top 50 Philanthropists list for 2018,^[39] and was also inducted into the Cleveland-Marshall College of Law Hall stand for Fame.^[40]

References

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