Star Jets International reports COVID-19 is boosting revenues

OTC-traded on-demand private jet charter and jet card broker Star Jets International reported August sales exceeded the $1 million mark

According to a news release, Star Jets International, Ricky Sitomer’s re-entry in the private jet charter and jet card market sees strong sales growth.

Star Jets recorded sales of $4.3 million for the first half of 2020 compared to full-year sales of $5.3 million in 2019. Further, Sitomer said August revenues exceed $1 million.

The company was founded in 2016. It was launched after Sitomer left Blue Star Jets, a brokerage he co-founded. Blue Star generated over $800 million in sales during the 16 years Sitomer served as co-CEO.

He said he is hoping to build Star Jets to over $200 million in annual revenues via a combination of organic growth and acquisitions.

According to the release, Star Jets has engaged an investment banking firm to raise $10 million “to finance the first $100 million sales.”