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One of the first things to look at when a private equity buys a fractional operator is the aircraft list. Onex Partners announced on June 24 that it has agreed to purchase AirSprint and its 44 jets. A closer look offers insight into what the investor is getting exposure to. AirSprint's fleet includes 21 Citation CJ3+, 10 Embraer Praetor 500/600, 7 Embraer Legacy 450/500 and 6 Citation CJ2+. This fleet is mostly made up of the Citation light jets and the Praetors are super-midsized jets, suggests continued institutional confidence in these aircraft types. The Onex Partners Opportunities Fund, which includes TriWest Capital Partners and certain other co-investors, agreed to acquire AirSprint, its fleet, its approximately 400 employees and its over 600 fractional owners. The transaction is expected to close in the third quarter of 2026. Once it is, AirSprint's founder and chairman, Judson Macor, will become its chairman emeritus and its president and CEO, James Elian, will continue in his role. AirSprint is the largest fractional jet operator in Canada and the investment is meant to support its growth, which includes fleet expansion. With the acquisition, AirSprint should be expected to remain an active buyer of CJ3+, CJ2+ and Praetor aircraft. While this is a single deal, it fits a private equity pattern seen across business aviation. Fractional operators offer recurring revenue that many transaction-driven aviation businesses cannot. With a fleet of tangible assets and long-term customer relationships, AirSprint offer long-term customer relationships, recurring management fees and a standardized fleet along with a more predictable cash flow. That's the kind of operation that makes for an attractive target by institutional capital.