The private aviation industry has experienced great changes in recent years, and signs of growing demand for business jet flights have emerged globally. The General Aviation Manufacturers Association indicated that 2023 saw more than 730 new business jet deliveries alone, suggesting demand is building from corporations as well as individuals seeking a more convenient way to travel. Business operators in a rapidly changing environment, as it relates to market size, will likely face pressures to participate in the regulatory framework, incur operational costs, and meet safety standards amid ever-changing client expectations.
In such an environment, new players since the late 2010s have reshaped competitive dynamics, particularly in the United States, where private aviation infrastructure is on a massive scale.
Prima Air, founded in 2019, emerged in this period of industry expansion. The company established its headquarters at John Wayne Airport in Santa Ana, California. Its founder, Lina Tullberg, positioned the company to operate in on-demand private jet charter, jet cards, fractional ownership, aircraft sales, management, and maintenance. Its diversified business model provides multiple revenue streams beyond flight operations. Lina Tullberg serves as founder and chief executive officer. Under her leadership, Prima Air has grown from a regional charter and leasing provider into an international private aviation operator. By so doing, Prima Air placed itself in a highly competitive market dominated by legacy carriers with decades of market presence.
In 2021, Prima Air was acquired by Pasaca Capital LLC, a private equity firm founded by Charles Huang. The following year, Prima Air Group was formed. In 2022, Prima Air Group acquired Pegasus Elite Aviation, a long-standing private charter and aircraft management operator. The acquisitions expanded Prima Air’s fleet, operational capacity, and industry relationships.
The company’s growth hit a landmark moment when it acquired Pegasus Elite Aviation in 2022. Pegasus Elite Aviation had been in the private charter and aircraft management business for many years. This acquisition enabled Prima Air to significantly expand its fleet and operational capabilities while also broadening its experienced team and decades of accumulated industry expertise.
After adding Pegasus Elite to its group structure, Prima Air further expanded its global presence. The move is seen as part of the industry’s expansion and consolidation, with private aviation emerging from the pandemic with a focus on curated, flexible flying to meet evolving travel habits.
Following the acquisition, Prima Air established several operating bases within the United States. This gesture reflects an aim to be anchored in markets where demand for private aviation remains substantial. The company has base facilities at Van Nuys Airport and Hollywood Burbank Airport in California, Teterboro Airport in New Jersey, Opa-locka Executive Airport in Florida, and Harry Reid International Airport in Nevada. Beyond the United States, Prima Air extended its reach further into Asia with service at the Hong Kong Business Aviation Centre, a move that signaled the company’s entry into one of the globe’s fastest-growing markets for business jet travel.
One of the most notable upgrades occurred in 2024, when Pegasus Elite Aviation, as a division of Prima Air, became the first operator to equip a Bombardier Global 5000 business aircraft with Starlink satellite internet under an FAA-approved Supplemental Type Certificate. This upgrade demonstrated not only an embrace of new technologies but also highlighted the growing role of high-speed in-flight connectivity in business and general aviation. The work drew industry attention since it was a technical installation never before done on that class of aircraft, opening the door for subsequent installations across the industry.
Awards for operational excellence have also helped to build the company’s reputation. Prima Air-owned Pegasus Elite Aviation received the Friendly Flyer Award from Los Angeles World Airports for two consecutive years, 2023 and 2024. It is an award presented to operators recognized for their commitment to community-friendly operations, customer service, and compliance with Los Angeles airspace regulations. In addition to these awards, Pegasus Elite Aviation is certified as a WYVERN Wingman and ARGUS Platinum-rated, both considered industry standards for safety and quality in aviation. These third-party certifications place the operator within a recognized category of private aviation operators, which are subject to rigorous evaluation of operational and safety oversight.
The company’s service spectrum is all-encompassing, from on-demand chartering of private jets to leasing, acquisition, and sale of aircraft, and to private jet management and maintenance. This structure is common for diversified private aviation operators whose revenue streams extend beyond flight hours into management contracts and brokerage activities. That diversification has been all the more important in the business, where charter demand fluctuates with economic cycles and seasonal swings.
Industry analysts have noted that Prima Air’s trajectory is replicated among other private aviation operators that surged rapidly during periods of high demand. However, the company’s approach has been defined by early adoption of technological landmarks and a relatively fast setup in foreign regions. Its Hong Kong base, alongside the U.S., indicates that there is an understanding that private aviation expansion is as much in the Asia-Pacific region as in the North American and European regions.
While the company is still young compared to some of its competitors, its success has put it in the debate about the altered landscape of private aviation. Its development tracks broader industry trends: consolidation among operators, convergence of technology, and expansion into global hubs that connect financial and cultural centers. Under this paradigm, Prima Air has evolved from a regional leasing and charter business into a diversified aviation conglomerate recognized by industry and regulatory groups.
As with any private aviation operator, the company’s future is tied to its ability to adapt to evolving customer needs, regulatory changes, and global economic conditions. The list of awards, safety certifications, and foreign expansion suggests it is recognized within the industry for its safety certifications and expansion. At the center of this journey is the leadership of Lina Tullberg, whose role in building and running the company has been underscored in accounts of Prima Air’s growth.
