Flightsafety International Inc. has received a letter...

Flightsafety International Inc. has received a letter of intent from a partnership led by Florida investor Paul A. Bilzerian to acquire up to half the company, a leading maker of pilot training simulators. The Flushing, N.Y.-based firm said Bilzerian Partners LP notified it of its intent to acquire at least 50% of Flightsafety common stock. In January, Bilzerian bought Singer Co., the defense and aerospace firm that is also a maker of flight simulators and a key competitor of Flightsafety in that field. Flightsafety, which is controlled by the Ueltschi family, said Bilzerian’s notification is subject to antitrust approval.