News Release

Flapper acquires Brazilian air carrier Black, adds fractional ownership division

Flapper, a global on-demand private jet charter marketplace, announced today the acquisition of Brazilian air carrier Black Táxi Aéreo in an all-cash deal. The acquisition brings Black’s fleet and facilities under Flapper, positioning the combined companies as leaders in Brazil’s air charter market. Black will become a broker-friendly air taxi operator within Flapper, further expanding its service portfolio.

Founded in 2016 and profitable since last year, Flapper views the transaction as a strategic step in strengthening its market position. By verticalising its operations, the company aims to better serve locally based ultra-high-net-worth individuals (UHNWIs), as well as the international brokers it already partners with through its aircraft procurement platform across Latin America.

“Our commitment to democratising access to business aviation remains unwavering, and we are proud to have partnered with an operator that boasts impeccable safety ratings and modern infrastructure in a key Brazilian hub,” said Paul Malicki, CEO and founder of Flapper. “By combining our demand-side platform with world-class supply, we are enhancing operational excellence, safety and agility.”

Under the terms of the deal, Rafael Matos, founder of Black Táxi Aéreo, will assume the role of head of aviation at Flapper’s new aircraft management and fractional ownership division. A Gulfstream GIV-SP jet owned by Flapper’s main shareholder will be added to the fleet in Q4 2025, complementing two Hawker 400 jets under Black’s AOC and five aircraft under management. By year-end, the combined AOC is expected to include five aircraft directly under operation. Leveraging synergies, the company projects annual revenues to reach USD 20 million within the next 12 months.

Despite this shift in focus for its Brazilian operations, Flapper’s technology division will remain unaffected. On the contrary, steady growth of its digital marketplace is expected, with 500,000 downloads of its mobile private jet booking app projected by year-end. Flapper currently lists more than 4,000 aircraft for on-demand charter, including over 1,500 in Latin America. A redesigned Flapper 3.0 app will launch in the coming weeks, offering a streamlined quotation flow and the first real-time booking features. Additionally, the company recently introduced JetSociety, a dedicated app for aircraft owners and fractional users.

Globally, more than 60% of Flapper’s revenues now come from outside Latin America, though Brazil remains its largest single market. In 2024, the most chartered aircraft by revenue were the Legacy 600/650, Gulfstream GV/G550 and Global Express/XRS, while the Eurocopter AS350, Grand Caravan and King Air B200 led in flight volumes. Due to heavy urban congestion and challenging runways across South America, Flapper relies heavily on helicopters and turboprops for regional connectivity. In September, the company will provide helicopter transfers to major São Paulo events, including The Town and the NFL São Paulo game.