Jet Edge International, an Ohio-based private aviation company, has raised an additional USD75 million of funding from credit funds and accounts managed by KKR.
The new funding expands KKR’s total credit and equity investments in Jet Edge to approximately USD265 million over the past year.
Following the initial USD150 million credit facility announced in June 2021, KKR has continued investing in Jet Edge amidst historic demand for its direct-to-consumer Reserve Membership programme. Jet Edge will utilise the funding to further expand the company’s extensive Gulfstream and Challenger fleet.
Jet Edge has 20 additional Gulfstream & Challenger aircraft slated to be delivered in the first half of 2022 in addition to the 27 delivered in 2021, bringing its total fleet size to 95 aircraft.
Read more: Private Equity Wire