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LAS VEGAS—Startup fractional ownership company Bond has emerged as the mystery buyer of up to 120 Challenger and Global aircraft in a major deal worth potentially more than $4 billion that was originally announced by Bombardier in June.
The firm order, which has a substantial services agreement, includes 50 Challenger 3500 and Global 6500 aircraft worth $1.7 billion. The deal with Bond, which was made public at NBAA-BACE here, also includes an additional 70 Challenger and Global options. Initial aircraft deliveries are scheduled to begin in 2027.
Led by industry veteran Bill Papariella, chairman and group CEO, Bond is supported by $320 million in preferred equity and debt financing led by credit funds and accounts managed by New York City-based investment firm KKR, along with an additional $30 million of equity funding from a group of unidentified investors.
KKR previously worked with Papariella when it financed the entrepreneur’s California-based aircraft management and charter company Jet Edge International. Papariella later went on to launch Aero Ventures–an accelerated liquidity, short-term lease and bridge financing company in 2024 having sold Jet Edge to VistaJet and XO parent Vista Global in 2022 for $750 million.
“I turn down doing a lot of different ventures and investments, but when I see something great I pounce on it,” says Papariella, who adds the agreement was completed in just three months from concept to contract signing. “We likely pulled off the fastest deal in aviation and capital markets for buying a fleet.”
“The vision was not to create just another fractional program–but we see room to innovate and optimize over what’s out there today, and simply put we see there’s an opportunity for Fractional 2.0,” Papariella says. “Exclusivity over scale is our primary driver.”
The company says it will be the first 100% super-midsize and large-cabin fractional fleet in private aviation and will also have flight attendants on every aircraft–including the smaller super midsize jets. Unlike others in the shared owner market, Bond will limit ownership to 10 per aircraft.
Aircraft use will be reserved only for fractional owners rather than holders of jet-card schemes who buy flight time only. It will also increase standby capacity by prepositioning aircraft to cover peak demand.
In what Bombardier describes as a “first-of-a-kind” OEM service agreement, Bond will also be closely integrated into the Canadian manufacturer’s existing U.S. service network, with on-site maintenance resources dedicated solely to supporting the new fractional company’s fleet.
Éric Martel, president and CEO of Bombardier, says “when we first began the conversation about this project there was an immediate sense of alignment, a shared vision and a common value. That’s what made the difference in the end.”
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