Star Jets International revenue hits $5.5 million in the first quarter

By Doug Gollan, May 17, 2022

Ricky Sitomer’s jet card broker Star Jets International saw sales increase 51% to $5.5 million in Q1 2022

Star Jets International, Inc. (OTCPink: JETR) said it booked an all-time record of $5,5 million for the quarter ended March 31, 2022.

Last year, New York-based Star Jets tallied $3.6 million, a 40% increase over 2020. This year’s gain was 51% year-over-year.

According to a press release, “The Company expects continued growth throughout the remainder of 2022.”

It said, “Health concerns related to Covid-19 continue to remain a reason for the uptick in private travel demand. In addition, the cost of fuel and the cancellation of commercial flights due to a pilot shortage has increased JETR’s revenue as well.”

It says new customers are now using its service on an ongoing basis.

Ricky Sitomer, CEO of JETR said, “The demand for private jets is skyrocketing and we expect that demand to continue to grow for many years to come. Many travelers who have been sitting on the sidelines, who have now received the Covid vaccine, are looking to get away after being cooped up for so long. We are starting to see an uptick in demand for Europe this summer. We look forward to our continued success and our hard work to serve our clients with all their private travel needs.”

In addition, Star Jets has finished its audit for 2019, 2020, and 2021. It intends to pursue an up-list onto the NASDAQ in the next few months.

The company did not provide an update on a previously announced plan to acquire aircraft.

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