XOJET AVIATION ACQUIRES MAJORITY STAKE IN RED WING AVIATION AND EXPANDS OPERATIONS IN THE LIGHT JET SEGMENT
Expanding XOJET Aviation’s operational capabilities to light jets, a rapidly growing segment;
Red Wing Aviation to become a subsidiary of XOJET Aviation LLC, under the leadership of its founder and current management, as a distinct and established company serving the light jet segment;
Further plans to scale operations, maintenance, simulator facilities and pilot training for both carriers’ fleet.
Fort Lauderdale, November 10, 2020. XOJET Aviation LLC, a North American leader in private jet operations, announces the acquisition of a controlling majority stake in Red Wing Aviation Company (FAA R3WA714J). Red Wing will be independently operated under XOJET Aviation’s control and leadership, the acquisition is a key strategic step in consolidating the domestic North American market and strengthens XOJET’s ability to satisfy the increased demand and influx of new customers in the entry level of business jet offering. As a result of the impact of COVID-19 on commercial aviation, this segment of private aviation has seen a huge rise in the past 9 months, as it perfectly serves short distances travel between underserved routes.
Kevin Thomas, XOJET Aviation President and Chief Operating Officer, commented: “We are excited to welcome Red Wing Aviation and its employees into the XOJET Aviation operating group. By joining forces, we will now provide support to our commercial partners across all aircraft classes. Our combined partnership will address the increased demand in the light jet segment, which has previously been outside of XOJET Aviation’s core focus on super-midsize aircraft.”
“XOJET Aviation’s current footprint is coast-to-coast oriented. Combining our capabilities with Red Wing will allow us to establish a larger presence in the heart of the country and benefit from the company’s expertise in maintenance and sim training capabilities. The culture created by Wes, the management team, and Red Wing’s people is exceptional and we are looking forward to working with them.”
Wesley Converse, President of Red Wing Aviation, commented: “We are excited to join forces with experienced leaders from the industry, allowing us to accelerate fleet growth plans. This partnership enables us to access the very best technology and infrastructure in our industry and enhance customer service through the integration with XOJET Aviation. Today marks a new chapter for Red Wing and I am happy to be able to continue to lead the company on its mission”.