Charter flight firm Elite Aviation received $50 million that will go toward global expansion, fleet growth and acquisitions to complement its business.
The financing came from private investors of the Van Nuys company, which offers executive charter and aircraft management services and aircraft maintenance and sales. With a client base drawn from the entertainment and media industries, Elite places a premium on customer service and providing a one-of-a-kind flight experience for its clients.
With the $50 million investment, Elite can move forward to set new standards in private jet service, said Chief Executive Chris Holifield.
"We will expand operations, create synergistic alliances and bring our unmatched Elite Aviation experience service to private flyers worldwide," Holifield said in a prepared statement.
The aviation company is currently finalizing several joint ventures that will allow it to serve companies around the globe within the next 12 to 36 months.
In April 2012, Elite formed a joint venture with STAjets, based at John Wayne Airport in Orange County, that gave Elite a second base of operations and access to mid-sized to light private jets and turboprops.