US-based SkyShare plans to achieve growth through a two-step M&A strategy.
SkyShare, a Utah-based business/private charter operator, is planning a two-step merger and acquisition strategy to drive its growth in the fractional ownership sector. CEO Cory Bengtzen revealed in an interview that the company is aiming to purchase a charter operator with a fleet size ranging from seven to 15 aircraft by the end of 2025.
Emphasizing the importance of fleet versatility and synergy between fractional and managed fleets for cost-efficiency and customer attraction, SkyShare is eager to expand its fleet through strategic acquisitions. Bengtzen expressed confidence in the company’s team and readiness to add more airplanes this year, with the ultimate goal of a nationwide presence in the fractional ownership space by 2026.
The initial acquisition in 2025 will be self-funded by SkyShare before seeking external funding for a larger acquisition the following year. Bengtzen highlighted the search for a potential partner based in the western United States, noting the preference for a company whose owners are looking to exit the business. While the target acquisition should ideally operate similar aircraft types to SkyShare, it doesn’t have to be an exact match as long as it complements and supports the fractional ownership program.
After successfully integrating the first acquisition and expanding its customer base, SkyShare will explore private equity or external funding options for its second transaction. The company aims to solidify its position as a top-10 operator in the US based on hours flown within five years. Bengtzen mentioned that there are several companies that fit the desired model of operation, and the goal is to establish mutually beneficial agreements for sustainable growth.
Reflecting on SkyShare’s evolution, Bengtzen highlighted the company’s transition from an aircraft trading firm to a fractional ownership specialist. He identified a market gap in the western US, which lacked providers like NetJets Aviation and Flexjet, focusing on smaller to mid-tier aircraft in the fractional ownership sector. With competitors like PlaneSense and Airshare dominating other regions, SkyShare aims to fill the void in the western US market with its unique approach to fractional, charter, and aircraft management services.
SkyShare’s strategic approach to growth through mergers and acquisitions underscores its commitment to becoming a leading player in the fractional ownership sector. By leveraging its team expertise, fleet efficiency, and industry knowledge, the company is poised for significant expansion and aims to offer enhanced services to a broader customer base in the coming years.
