(Reuters) -BOND, a new private aviation company backed by U.S. investment firm KKR, was disclosed on Tuesday as the customer behind a June $1.7 billion order for 50 Bombardier private jets and aftermarket services.

KKR is the lead investor in the fractional aviation company, a model where individuals buy a part-share in a private jet. BOND also announced a $350 million investment round led by KKR.

BOND's firm order and services agreement includes the Canadian business jet maker's Challenger 3500 jets and large cabin Global 6500 planes, with flying to start in 2027.