As principal of Directional Aviation and chairman of Flexjet, Kenn Ricci is one of private aviation’s driving forces.
Despite his deep involvement in Flexjet’s operations, he recently introduced a new program inspired by his passion for travel. We spoke with him about what’s in store for members.
[See also: Private Jet Providers Are Battling for Customers With Money-Can’t-Buy Experiences]
You’ve often spoken about your love for travel. Where does that passion stem from?
When I was growing up, my father worked for the government. I didn’t grow up wealthy. But what I remember most is we had a family room, and in that family room we had the outdoor lawn furniture, and in the summer we would put it outdoors, and in the winter we’d bring it indoors. And my mom hated that. I remember my mom and dad fighting all the time over this darned lawn furniture that had to go inside and outside, but my dad would never buy furniture because he always spent every discretionary dollar on travel. I watched my dad win the argument, and we lived on outdoor lawn furniture inside the house. So my love of travel came in very early, instilled by my dad. He thought being able to go somewhere was so unique. He grew up in the 1960s, the romantic era of travel. That’s what I’m trying to do — find the romance of travel.
You’re now using your love of travel to inspire bespoke experiences for Flexjet customers. Do you feel it’s essential for private jet companies to offer unique experiences and access on top of a reliable jet service?
Not at all. It’s brand enhancement. I give the example that Bentley is now building a condominium in Florida. Do they still have to make good cars? Yes. And does every one of their owners want to buy an apartment in Miami? No, but it shows what the brand can do. We have 2,000 clients. These experiences appeal to a very small number of them because a lot of our clients are large businesses, and they typically use it for business. But it sets the tone of our brand. It’s not a must-have, and it’s not cheap. If you saw the budget for a chairman’s event, you would know it’s not something we take lightly. It costs a couple of million dollars to put these events on, but I would look at it as part of building a brand.
What is the demographic of the owners utilizing these experiences?
We’ve put business and pleasure together. I could be hanging up on you and going to the pool. And you would ask: “Was Kenn working today, or was he on leisure?” We can help make your leisure time business and your business time leisure. Who takes these journeys? Certainly, it’s more individuals. There’s a little-known secret that you didn’t hear from me, but you could probably figure out: There’s an unbelievable wealth transfer going on. And you probably wouldn’t be surprised if I told you, post-Covid, that our average customer is ten years younger than they were pre-Covid. And also, they’re not buying small aircraft anymore. They’re coming in at a larger level. This is a new prospect group that we didn’t think about ten years ago.
FXLUXE launched earlier this year, offering access to the best hotels and money-can’t-buy experiences for free when owners use their Flexjet shares. Why take the cost on yourself?
There is some business motive to it. It’s not pure altruism, but it goes back to building a brand. We want the Flexjet brand to be the best in private aviation. And I could spend $20m to do it every year, but I could also spend $2m, $3m or $4m by sharing the brand-building directly with my clients. The worst thing that can happen is they have this luxury experience, and it’s horrible. If we send them into a restaurant and they get food poisoning, then it’s not the cook’s fault, it’s our fault. How do you create an experience so someone goes: “Gosh, there’s nowhere I can have that experience!” You have to invest in them.
How do you ensure FXLUXE provides the right level of exclusivity and luxury for your members?
A lot of what’s in FXLUXE is an accumulation of not only where I would go, but who’s the guy? And I always say, in every location, there’s a guy, and that’s the person who can get you access. So when we did our chairman’s event last year in Lake Como we had the head of Riva; Riva opened up its factory, and we helicoptered our guests from the hotel in Lake Como to the Riva factory, where they got to experience the full line of Riva boats and saw the history of the company. I don’t care how wealthy you are, you can’t find that experience. That’s what we’re searching for.
FXLUXE launched with just eight locations. Why start small, and when can Flexjet clients expect more destinations to be added?
I’m still running a $5bn business with 4,000 employees. We don’t have a team that goes out and curates 17 ideas and comes back with two — it’s just me. And I don’t get the experience I want the first time. The first time I go to a destination, I try to understand. Then you’ve got to find the right person, then you have to explain what we’re trying to achieve, and then you have to go back to experience what your clients will experience. It takes a while, but the benefit is, any one of the clients can talk to me, and I have the name of the person they want. Lake Como? I’ve got the guy. I can get him on the phone right now. That’s what I’m trying to give them. And where else are they going to get that?