Onex-Backed AirSprint to Buy Large-Cabin Jets in Fleet Expansion

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(Bloomberg) — AirSprint Inc., Canada’s largest fractional private jet operator, plans to buy at least five large-cabin aircraft over the next few years from Bombardier Inc., Dassault Aviation SA or Gulfstream Aerospace Corp., its chief executive officer said.  

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The move comes as Onex Partners, TriWest Capital Partners and other investors are set to acquire the Calgary-based company in a deal expected to close in the third quarter.

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Calgary-based AirSprint operates what CEO James Elian calls a timeshare for private jet access, letting customers request a flight with as little as 24 hours’ notice. Founded in 2000, AirSprint’s current fleet consists of 44 light, mid-size and super mid-size aircraft made by Embraer SA and Textron Aviation Inc.’s Cessna. Their range often requires them to refuel on the way to Europe.

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The large-cabin jets AirSprint is considering would allow for non-stop flights from Montreal and Toronto to the continent, Elian said. He plans to buy the first new plane within the next year, and the remaining four within 18 months of that.

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Private jet flight activity is up globally, rising 3.7% in the first half of 2026 compared with the year-earlier period, according to aviation data company WINGX Advance GmbH. It’s a stark contrast to the commercial airline sector, where carriers have culled flights that have become unprofitable due to higher fuel costs. 

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Bombardier Chief Executive Officer Eric Martel forecasts a 68% increase in deliveries to private fleet operators by 2030. 

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“A billionaire might buy their own plane, but someone with a net worth of $30 million or $40 million might prefer to purchase flight hours from a fleet operator,” Martel told a luncheon in Montreal in February. “That’s a category that’s booming.”

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A growing opportunity in the Canadian market and AirSprint’s plans to introduce large-cabin aircraft were the main reasons Onex, TriWest and others decided to invest, Elian said. In a release announcing the transaction, the investors also pointed to AirSprint’s experienced workforce and strong business model. Terms were not disclosed.

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Canada’s market for fractional private jets is significantly smaller than the US, where Berkshire Hathaway Inc.-owned NetJets Inc. dominates. But AirSprint is the biggest player in the northern nation, growing from 13% market share in 2019 to over 30% today, with ambitions to get to 50%.

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During the Covid-19 pandemic, “there was a changing mindset for fractional owners,” Elian said. “I think people could always afford to fly private, but they didn’t really give themselves permission to fly private.” 

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The company now serves 650 customers, up from around 250 in 2019. 

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As for the future, “pretty much everything is on the table,” Elian said, adding that a customer asked recently about flights to Australia and New Zealand. “The first step for us is to move into the large-cabin aircraft.”

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—With assistance from Mathieu Dion.

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