September 19, 2024
The aircraft management and charter operator bought charter booking platform JetASAP in June.
Rhode Island-based Benevolent Captial has jumped into the private jet space with an investment in FlyHouse, which recently bought ad hoc private jet charter membership platform JetASAP.
The investment was first reported earlier today in a Corporate Jet Investor newsletter.
The publication covers the business and financial side of the industry.
Benevolent has investments in real estate and sports teams, including the British Premier League soccer team Ipswich Town Football Club.
Brett and Grant Johnson founded it in 2005 as a family office.
FlyHouse CEO Jack Lambert confirmed the report to Private Jet Card Comparisons, adding, “They allow us to expand our reach not just domestically, but internationally as well.”
Terms were not disclosed.
Corporate Jet Investor quoted the private aviation company’s Chief Aviation Officer, Suran Wijaywardana, saying, “FlyHouse had already closed its capital raise, but when they expressed interest, it was something we couldn’t ignore. Benevolent has a track record of going beyond the spreadsheet and realizing that it is about the people in the business. Their motto has been that they invest in the who and not the what.”
FlyHouse was founded in 2021, promising to disrupt private aviation’s aircraft management and charter sector with a “game-changing business model.”
On its website, FlyHouse claims, “Where our competitors charge a premium to manage planes, we pass all costs through to the owners we service. This allows them to accept less for charters, and you save more.”
It adds, “FlyHouse is putting an end to opaque invoicing and the obscure, outdated, and predatory business practices that are the hallmarks of its competitors. Leveraging application-based technology, FlyHouse is also streamlining the charter flight process.”
In June, it acquired JetASAP, a membership platform that enables consumers to request flight pricing directly from operators.
According to its website, “The FlyHouse app and web portal provide a fast, frictionless platform that connects you directly to jet owners, who consider the amount you’re willing to pay for private air travel and bid against one another to offer unbeatable fares.”
Per Corporate Jet Investor, FlyHouse currently has 10 aircraft under management.
It also has affiliates specializing in aircraft sales, financing, and technology.
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