JetBird has entered into a strategic partnership with leading German aviation industrialist, Conrado Dornier, to enhance its knowledge and expertise within the German market.As part of this strategic partnership, Mr. Dornier will also make an equity investment in the Company. The investment is being made at a valuation which is at a significant premium to the valuation of JetBird when equity was raised for the initial fleet order of up to 100 Embraer Phenom aircraft in May 2006. This up-lift in valuation reflects the progress JetBird has made in developing its business model since its initial launch. It also reflects the market’s growing understanding of the potential for air taxi operations in Europe.
Mr Conrado Dornier commented “I am delighted to enter into partnership with JetBird and to become a shareholder. This investment reflects my belief in the JetBird business model and for its potential to dramatically increase business jet penetration in the European market. The Dornier family has a world renowned legacy in the aviation business and we believe that our relationship with JetBird will continue that legacy of innovation and success.”
Mr Dómhnal Slattery, founder and Chairman of JetBird commented “We are delighted to announce our partnership with Conrado and welcome him as a shareholder in JetBird. This partnership and equity investment, from a family whose legacy in innovation in the aviation industry is unsurpassed, is further validation of our vision to transform European private jet travel.”
Mr Slattery added “Our vision is to provide an attractive Pan-European alternative for existing private jet travellers at a lower price point, but also bring the private jet travel experience to a market for whom it has, up to now, been too expensive.”
Mr Slattery concluded “The increasing congestion and security at commercial airports and lack of investment in infrastructure means that the air travel experience for commercial passengers is unlikely to improve. JetBird’s offering will provide all the comfort, efficiency and security of private jet travel but at a price point which is significantly lower than the current branded operators in Europe.”