Amber Aviation has successfully completed its Series C funding round and will launch what it claims is Asia's first true fractional aircraft ownership programme by the end of the third quarter of 2024. The customised business aviation services provider has garnered strong support from existing shareholders during this financing round, reaffirming market and investor confidence in its business model.

Launched in April 2022 as a subsidiary of Amber Aviation, AmberNet includes China's first fractional lease programme. Clients opting to join the programme came especially from AmberNet's core China market and from many of the growth economies in southeast Asia.

Asian flight statistics provider Flight Master noted that one of AmberNet's Gulfstream G450s was the busiest private jet in 2023 having flown more than 1,100 hours. With an average of 900 flight hours per aircraft, AmberNet has achieved the utilisation rate expected of business jets.

Amber Aviation founder and president Chang Qiusheng says: "I am delighted to announce the successful closure of Amber Aviation's Series C funding round. This achievement provides substantial financial backing for the imminent launch of our flagship initiative, the fractional ownership programme, setting a solid foundation for a successful programme introduction and future accomplishments.

"The success of Amber Aviation's shared leasing programme in the Asian market underscores the significant regional demand for this innovative model. Leveraging exceptional operational data, we continue to drive product innovation and enhancement. The forthcoming fractional ownership programme, tailored to the regional market and featuring comprehensive offerings, will catalyse the company's business growth, presenting customers with a diversified and flexible array of aviation service options."

AmberNet's fractional ownership programme will be launched before the end of the third quarter of 2024.