Location: United States
Industry: Online and Technology
Listing ID: 1028
Price Recently Reduced! Company bought back 50% of sellers shares.
This cloud-based private aviation company directly connects aircraft owners and operators with charter clients through a web-based platform or Iphone/Android Application.
The platform features a proprietary route optimization algorithm that identifies available and idle capacity as well as empty flights (40% of flights are flown empty). Charter customers can access the global fleet with a few simple clicks, while operators can manage their fleet through the proprietary (patent pending) fleet management platform and algorithms that have the potential to significantly increase aircraft utilization and thus revenues. Revenues come through commission revenues from booked flights.
As of early 2019, the company website is offering instant booking functionality, something that is unprecedented across the general aviation industry. Revenues growing exponentially. Seller who is a minority partner seeking to sell his 6% common shares well below valuation. Well known international partners and representatives with 15 employees handling sales, BD, development, and IT. Company plans on selling 544 flights in 2018, 4,400 in 2019, and 9,400 in 2020. For reference, Europe Business Aviation in the last 12 months to Jan 2018 counted 50,000 flights (source Europe Business Aviation Association)
Selling due to life changes and funds needed to veer into another direction.
Total Funding To Date $30MM
Gross Revenue $600k
Number of Shares: 1545
Shares Outstanding: 46’278
Ownership for Sale: 3.34%
Gross Revenue: $600,000
Reason For Sale:
Year Established: 2017