Building on its AmberNet leasing program, China-based Amber Aviation says it is ready to launch what it says will be Asia's first fractional ownership program.
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Amber Aviation expects to be ready to launch its fractional ownership program in Asia by the end of the third quarter of 2024, based on the recent completion of its Series C funding round. The China-based company has not disclosed how much new capital was raised but announced on Thursday it has received strong support from existing shareholders, including NetJets, Fung Investments, Liu’s Group, and Hony Capital.
The company already operates a fractional leasing program called AmberNet, offering blocks of 25 and 50 flight hours. It says that the offering has attracted customers from China and across Southeast Asia.
Amber Aviation has not yet confirmed which aircraft types it will offer for the fractional aircraft program or on what terms. It said that shareowners will have access to aircraft with a minimum notice period of 24 hours.
The company was founded in 2017, with its headquarters in Shenzhen and branch offices in Beijing and Shanghai. Its current fleet includes 21 aircraft. The fleet consists of a mix of Bombardier Global 5000 and 7500 large cabin jets, as well as the Gulfstream 650ER and G450. The G450s, which were received from NetJets under an agreement announced in 2022, are used for AmberNet lease customers and in 2023 had an average utilization of 900 flight hours per aircraft.
“The success of Amber Aviation’s shared leasing program in the Asian market underscores the significant regional demand for this innovative model,” said Amber Aviation founder and president Chang Qiusheng. “Leveraging exceptional operational data, we continue to drive product innovation and enhancement.”
Amber Aviation expects to be ready to launch its fractional ownership program in Asia by the end of the third quarter of 2024, based on the recent completion of its Series C funding round. The China-based company has not disclosed how much new capital was raised but announced on Thursday it has received strong support from existing shareholders, including NetJets, Fung Investments, Liu’s Group, and Hony Capital.
The company already operates a fractional leasing program called AmberNet, offering blocks of 25 and 50 flight hours. It says that the offering has attracted customers from China and across Southeast Asia.
Amber Aviation has not yet confirmed which aircraft types it will offer for the fractional aircraft program or on what terms. It said that shareowners will have access to aircraft with a minimum notice period of 24 hours.
The company was founded in 2017, with its headquarters in Shenzhen and branch offices in Beijing and Shanghai. Its current fleet includes 21 aircraft. The fleet consists of a mix of Bombardier Global 5000 and 7500 large cabin jets, as well as the Gulfstream 650ER and G450. The latter type is used for AmberNet lease customers and in 2023 had an average utilization of 900 flight hours per aircraft.