- Private jet charter market shows signs of recovery with investor confidence in online business model -
PrivateFly.com, the online booking network for private jet charter, today announces that it has completed
the first phase of its present funding round.
The investment capital will be used to increase marketing spend and to recruit further sales people and a
head of web, whose core focus will be the usability of PrivateFly's online platform for both
customers and registered operators.
PrivateFly's chairman, David Scowsill, comments: "We are pleased to announce completion of this first phase of
funding which will help us to further drive our business in the UK market, and to develop a presence
in new European territories.
"PrivateFly presents an exciting and disruptive hybrid business model, bringing a highly fragmented and
traditional market together in an efficient online marketplace. Crucially it tackles the historical
barriers to charter by combining price transparency with industry expertise and consistent,
VIP customer service. This first round funding demonstrates investor confidence in the private jet
charter market and underpins PrivateFly's continued growth."
PrivateFly has been advised in this first phase of funding by IDJ Limited, a leading, independent corporate
finance adviser to owner managed businesses and to companies traded on the public markets.
The offer remains open to professional and sophisticated investors until 31 July 2010.
-Ends-
About PrivateFly:
PrivateFly is an online booking network that makes it quicker, easier and more cost effective to
arrange private jet charter. With over 2700 accredited operators registered worldwide,
PrivateFly is the only online aggregator for private jet charter in Europe.
In February 2010 PrivateFly launched the world's first iPhone application to provide instant private jet
pricing on a mobile phone.
PrivateFly was recently announced as one of the Smarta 100 companies 2010, by a judging panel
including Dragon's Den's Deborah Meaden and other leading entrepreneurs, such as
Bebo founder Michael Birch. The company also won the innovation category of the Best Business Awards in
February 2010.
Founded in 2007, the company is based in St Albans, Hertfordshire. The management team is lead by CEO and founder
Adam Twidell (a former RAF and NetJets pilot) and guiding the growth of the company are David Scowsill (ex British
Airways Director, CEO Opodo, easyJet Sales Director) and John Bevan (ex MD of Lastminute.com).
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