Kenn Ricci, the principal of Directional Aviation says, he is looking to make some deals in excess of $100 million. His focus is electric aviation, sustainable aviation, and other emerging technologies.

Directional’s OneSky Flight unit houses Flexjet, the number two seller of fractional private jet shares, Sentient Jet, the company that invented jet cards, and PrivateFly, an on-demand charter broker focused on Europe and international markets. All three came via acquisitions over the past decade. More recently, OneSky launched a premium on-demand brokerage, FXAIR.

Ricci has created a special purpose acquisition company as his vehicle and is targeting larger acquisitions than in the past, according to an interview with Corporate Jet Investor. A spokesperson confirmed the contents of the report.

“We typically have around $30 million to invest in equity in each new company. With leverage we can make that up to around $100 million or $150 million…There are private equity companies interested in several billion-dollar companies, but there is a gap between what we do and what the large funds are doing. That is why we have filed for a SPAC,” he told the U.K.-based aviation journal.

Directional’s holdings also include Nextant Aerospace, which remanufactures private aircraft, Constant Aviation, a MRO, Sojourn Aviation, an aircraft sales and brokerage company, and Simcom, which provides pilot training, among others.

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The website of the Security and Exchange Commission shows a filing registering Zanite Acquisition Corporation was made on Sept. 4, 2020.

It’s the third SPAC related to private aviation filed in the last 45 days. In August, Surf Air said it intended to go

Cigna Corp. CI seems well-poised for growth on the back of its vast and diversified business profile, a solid balance sheet and a strong operating performance.

Company’s strong business profile:

Acquisition of Express Scripts: This deal made the company a one-stop shop for customers’ healthcare needs, ranging from the sale of its drugs to insurance cover, providing it with the benefits of a vertical integration. The combined company rose through the ranks in the health insurance industry, strengthening its competitive edge.

Other Buyouts: The company in the first quarter of 2019 acquired OnePath Life Insurance from ANZ Bank in New Zealand. This acquisition enabled the company to delve deeper into an existing geography with an expanded set of solutions and capabilities to create more value for its customers, intensify its continued focus on effective capital deployment and drive long-term growth. This will also grow its international operations, which have been aiding revenues over the years.

Increasing Top Line: The company’s revenues have been bumping up consistently since the last several years. The same was up 14.4% in the first six months of 2020 owing to the acquisition of Express Scripts. For 2020, the company expects consolidated adjusted revenues in the range of $154-$156 billion, representing 10-11% growth.

Improving Bottom Line: Along with top-line growth, Cigna has been able to maintain bottom-line profitability, evident from its annual earnings growth since 2009 (except in 2016 when earnings per share declined 6.4%). Its EPS witnessed a CAGR of 17% from 2014 to 2019. This operating profitability has been maintained so far by controlled medical care cost and other operating costs. In the first six months of 2020, the company’s bottom line grew 28% year over year. For 2020, consolidated adjusted income from operations is expected to be $6.8-$7 billion or $18-$18.60 per share.