Stellar is developing technology it says will enable real-time private jet charter bookings
Here’s a surprise: Business aviation accounts for nearly 29% of all consumer spending on air travel in the United States and has nearly the same daily flight activity as commercial aviation, however, the process of booking private jet charters is still very much based on phone calls and emails.
Stellar Labs, Inc. which says it enables real-time bookings of on-demand private jet charters, today announced it has raised $26.3 million in Series A equity financing from Global Jet Capital, a provider of corporate aircraft financing solutions capitalized by The Carlyle Group, Blackstone’s GSO Capital Partners, and AE Industrial Partners, Columbia Equity Partners and Expa. In a press release, Stellar said combined with previous equity rounds and funding from Rockwell Collins, Stellar is investing over $50 million in its next-generation technology platform for business aviation. The company projects advances like it is making will triple the charter market in the next “six to eight years.”
The online charter broker and jet card seller was ranked on the Tech Track 100 for the second consecutive year
PrivateFly has made The Sunday Times Tech Track 100, for the second year running, it was announced yesterday. This is an annual league table, ranking the UK-founded private tech companies that are growing the fastest.
The private jet charter broker has been the subject of several recent reports from financial analysts
Air Partner has been around since 1961 so we know it has some staying power. Plus, the British based private aviation company is interesting to Private Jet Card Comparisons for a couple reasons. First of all, in recent years it has been putting a bigger emphasis in growing its jet card business, and secondly, as a publicly traded company, there is significantly more financial information available than the many other providers that are privately held or a subsidiary. We also like its 10-hour lead time for reservations is near the top of the league and the entry point is only $53,000. You can withdraw your funds at any time, but there is no escrow account, which means taking a closer look at financials makes sense.
Online private jet charter broker Stratajet which launched in the U.S. last year confirmed internet reports on Flyertalk that it has closed its U.S. office, but a spokesperson told Private Jet Card Comparisons, “It’s very much business as usual at Stratajet. The US remains a focus of our business and we continue to provide a full, nationwide service.”
Jettly, a Toronto-based online broker of on-demand charter and empty legs announced it has adopted the Travel Industry Council of Ontario’s code of ethics.
“In order to make sure our customers are fully protected and to remain in compliance with seller-of-travel laws, our company is now following the Travel Industry Council of Ontario code of ethics,” said company CEO Justin Crabbe. “Adopting these new guidelines has resulted in Jettly.com providing an even higher level of customer service.”