Private jet charter and jet card broker Star Jets International, Inc. (OTCPink: JETR) set a revenue record of $9,581,799 million for the year ended December 31, 2020. It marked a year-over-year increase of 80%.
JETR recorded $2.2 million in the fourth quarter of 2020, an increase of 100% year-over-year.
The company said the new demand for private air travel is “not showing any signs of slowing down.” The Company expects to continue its growth pattern throughout the first quarter of 2021. Health concerns related to COVID-19 remain a primary reason for the uptick in private travel demand.
Ricky Sitomer, CEO of Star Jets, said, “We are proud to announce our all-time-record revenue in 2020 and our continued growth in the private jet industry. The demand for private jets has been tremendous, and we expect that the demand will clearly continue. We look forward to working hard to grow our client base, and we are primed and ready to serve our clients with all of their private travel needs.”
The Company hired a public company accounting oversight board auditing firm to audit its 2019 and 2020 financial records.
The company plans to file a corporate registration statement with the SEC. Once the registration statement becomes effective, the Star Jets can pursue an up-listing of the Company’s stock to OTCQB.
Sitomer started Star Jets in 2016 after exiting Blue Star Jets, the charter broker he famously named after the fictitious airline featured in the movie Wall Street.