BAN's World GazetteerU.K.
UK-based Mirai Flights, a service for the instant booking of jet charter flights, has shared a market update on its 2022 performance across the European and Middle Eastern regions it currently operates in. The figures reflect sizeable growth following from its previously raised $3 million round led by Xploration Capital.
The Mirai Flights group continues to expand across its registrations and empty leg solution services, with revenue up over 40 per cent against the same period in 2021.
In 2022 the business aviation market was valued at $42 billion with spot market (the target market for Mirai) share of over 70 per cent (around $31 billion). With a 1.6 times predicted rise by 2026, Mirai has confirmed that over 60 per cent of its profits in 2022 were from new flyers and that its retention of these has been at 87 per cent.
The company says that the autonomy behind its advanced booking application ensures every private aviation client can find a fast, flexible and secure solution for their flying needs.
Though Mirai's growth has had its fluctuations since inception and despite a series of macroeconomic shifts, including the Russian sanctions and a recessionary outlook, the Middle Eastern market has led the charge in the firm's profits, with a recorded increase of 90 per cent of new bookings and searches coming from the region.
The investment and expansion of Mirai Flights is in critical demand from the US and further Asian regions, with a developing focus on signing new operators to the app, as these regions will soon be accessible.
To best service clients over the coming years, Mirai Flights is continuing its investment and capital raising to provide global aviation services as well as rolling out a payment platform and loyalty programme.
Mirai clients are now benefitting from access to in-app chauffeur and accommodation services that are instantly bookable through the automated app.
Chairman Irakli Litanishvili comments: “We have felt both the internal and external growth of Mirai Flights over the past year and have seen an impactful and positive appraisal from clients, operators and partners. We see Mirai in a continuously evolving and solution orientated position in the market; for both global and local opportunities we are trying to focus on our vision and mission with intent for our clients to receive the most simplified and advanced aviation booking service on the market.
"We also see that our customers are interested in both the classic flight payment options and more innovative ones, such as using digital assets. As a service, it's crucial for us to develop targeted empty-legs offers for the customer, expand our fleet of aircraft and integrate more deeply with our airline partners, while maintaining a simplified user-experience.”
With its commitment to cleaner aviation and visual appraisal to sustainability Mirai Flights leverages UX to promote and monetise empty leg services.
It shows the user how many tonnes of CO2 they help to save with each empty leg flight or how many trees can be planted based on the sale of the trip, building upon transparency across the industry.