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Brazil's Flapper Acquires Black Aviação, Launches Fractional Ownership Service

Brazil's Flapper Acquires Black Aviação and Launches Fractional Ownership Service
Brazilian aircraft charter marketplace Flapper has expanded its footprint through the acquisition of Black Taxi Aéreo (Black Aviação), an RBAC 135-certified operator based at Belo Horizonte Tancredo Neves airport. The all-cash transaction enables Flapper to integrate Black Aviação’s existing infrastructure and fleet, while simultaneously introducing a new fractional ownership program named Jet Society.
Strategic Expansion Amid Market Dynamics
The acquisition, partially financed by Flapper’s recent fundraising round of BRL 5.8 million (approximately USD 1.1 million) completed in July, positions the company to leverage the growing global trend of financial innovation within aviation. Fractional ownership models, which allow multiple stakeholders to share aircraft usage and associated costs, are increasingly recognized as efficient and collaborative approaches to asset utilization. However, Flapper’s entry into this segment occurs within a competitive and saturated Brazilian market, where established operators already provide similar services and regulatory complexities persist.
Jet Society will initially feature Black Aviação’s current fleet, comprising two eight-seat Beechjet 400As, each averaging 25.6 years in service. These aircraft operate under Black Aviação’s charter certificate and are available for air taxi operations. Flapper plans to expand this RBAC 135-certified fleet to five aircraft by the end of 2025. The planned additions include a Gulfstream GIV-SP, owned by Flapper’s majority shareholder and expected to join the fleet in the third quarter, alongside a Cessna 208B Caravan single turboprop and a King Air Beech twin turboprop. All five aircraft will be accessible to both charter and fractional ownership clients.
Operational Integration and Market Implications
Beyond the fleet, Black Aviação manages five additional aircraft and operates two hangars totaling 6,000 square meters at Belo Horizonte Pampulha airport, offering comprehensive aircraft handling services. Both companies maintain headquarters in Minas Gerais, and despite operational integration, the Flapper and Black Aviação brands will continue to operate distinctly. Rafael Matos, founder of Black Aviação, will assume the role of head of aviation and aircraft management at Flapper.
Industry analysts suggest that Flapper’s move into fractional ownership may trigger competitive responses from established players, potentially including aggressive pricing strategies or enhanced service offerings aimed at protecting market share. Traditional aviation investors may approach the fractional ownership model with caution, favoring conventional ownership structures. Nevertheless, Flapper’s initiative aligns with a broader industry shift toward flexible, shared-use models that have the potential to reshape private aviation in Brazil.
As Flapper integrates Black Aviação and launches Jet Society, the company must navigate regulatory challenges, intensifying competition, and evolving customer preferences within Brazil’s dynamic aviation sector.

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