October 7, 2023
The jet card and on-demand charter broker said revenue approached $7 million in its second year.
Ricky Sitomer, who rose to fame as the co-founder of Blue Star Jets, said his current entry into the private jet charter broker and jet card market Star Jets International saw a 23% gain in revenues last year. Sales increased from $5.7 million to “approximately” $7 million, according to a company press release.
“We are extremely proud of our progress in our second full year of operations. In 2017, Star Jets International became a publicly traded company with an official name change and a trading symbol change to JETR. We are executing our business and operational plan very well, and look forward to our continued progress and continued growth,” Sitomer said in a prepared statement.
In addition to sales growth, Star Jets International developed its own online and mobile booking engine. The online booking engine automatically quotes prices and immediately gives the customer the ability to book a flight within four hours’ notice, the company said. The booking engine should significantly add to revenue growth in 2019.
Star Jets International said it has engaged an accounting firm to conduct 2017 and 2018 audits in order to up-lift onto the OTCQB, with an expectation that the audits and uplifting can be accomplished in the second quarter of 2019.
In addition to on-demand charter, Star Jets offers a variety of fixed-rate, guaranteed availability jet cards with an industry leading booking window of just four hours. The entry price point is $139,000 for 25 hours on a Hawker 400XP, excluding 7.5% Federal Excise Tax. Its dynamic pricing Skycard starts at a $50,000 deposit.
Last year, Star Jets International launched its first major consumer advertising campaign with a series of commercials on news channel CNBC.
