January 28, 2024
NetJets-backed Amber Aviation is moving forward on its fractional ownership program in Asia after a Series C raise.
Shenzen, China-based Amber Aviation announces that it has successfully completed its Series C funding round.
It now plans to launch a fractional aircraft ownership program in Asia. Timing is by the end of the third quarter of 2024.
Launched in April 2022 as a sub-brand of Amber Aviation, AmberNet includes China’s first fractional lease program, according to the company.
Last year, Amber averaged 900 flight hours per aircraft.
“I am delighted to announce the successful closure of Amber Aviation’s Series C funding round. This achievement provides substantial financial backing for the imminent launch of our flagship initiative, the fractional ownership program, setting a solid foundation for a successful program introduction and future accomplishments,” said Chang Qiusheng, Founder and President of Amber Aviation.
He added, “The success of Amber Aviation’s shared leasing program in the Asian market underscores the significant regional demand for this innovative model. Leveraging exceptional operational data, we continue to drive product innovation and enhancement. The forthcoming fractional ownership program by Amber Aviation, tailored to the regional market and featuring comprehensive offerings, will catalyze the company’s business growth, presenting customers with a diversified and flexible array of aviation service options.”
Details on how much was raised were not provided.
The nascent fractional program will provide a callout of 24 hours.
In August of 2022, Amber received its first of up to 20 aircraft being retired from the NetJets fleet.
Clients are offered guaranteed access to the NetJets aircraft in Europe and the U.S.
The unit of Berkshire Hathaway has been an investor since 2021.
Amber Aviation has branches in Beijing and Shanghai.
It has wholly owned subsidiaries in Hong Kong, Macau, and San Marino.
There are also bases in Tianjin and Ningbo.
