This website uses cookies
More information
The monthly news publication for aviation professionals.
See more information from the Business Air News Handbook...
The monthly news publication for aviation professionals.

Request your printed copy

Read our latest feature:   Show issue: MEBAA
Jet Token secures commitment for post IPO funding
Over the next three years, Jet Token is guaranteed a working capital of $40m by GEM that it can access whenever it likes.
Executive chair Mike Winston, head of sales Brenda Paauwe-Navori and ceo George Murnane.

Jet Token has entered into a $40 million investment commitment from GEM Global Yield, the $3.4 billion Luxembourg-based private alternative investment group with offices in Paris, Nassau, New York and Los Angeles. Under the share subscription facility, Jet Token will have the right to periodically sell to GEM up to $40 million of common stock during a 36 month term following a public listing of the Jet Token common stock. Jet Token will control the timing and amount of the drawdowns under this facility.

Las Vegas-based Jet Token offers fractional ownership, jet cards and charter service on the HondaJet Elite S. Through its ARGUS Platinum-rated operating partner Cirrus Aviation, the company offers jet cards on a fleet of 20 private aircraft that range in class from light to ultra-long range. Through the Jet Token app travellers are empowered to look, book and fly on its fleet aircraft or with a vetted third-party operator.

Global Emerging Markets (GEM) manages a diverse set of investment vehicles focused on emerging markets and has completed over 480 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to small-mid cap management buyouts, private investments in public equities and select venture investments.

Other News
 
Shared flights take pressure off unsustainable empty jets
November 22, 2022
By not letting an aircraft fly empty, XO says it is making private travel more affordable and greener. Lynn Fischer explains how it is alleviating its climate impact with seat sales on shared flights.
Hourly costs stabilise, according to JetASAP report
November 14, 2022
FlyJets debuts green mobile scheduling app
November 8, 2022
Flexibility is Paramount for jet card clients
September 19, 2022
Paramount's jet cards provide holders with low fixed management fees, access to wholesale pricing with no annual flight commitment, and worldwide service with no blackout dates.