Amber Aviation announced that it has successfully closed its Series B funding round. Included in the funding is additional financing from Amber Aviation’s existing investor Hony Capital, also new investors NetJets, the Fung Investment, and Macau-based Liu’s Group.
Starting in April 2022, NetJets will assist Amber to build up a core fleet of business jets, which includes transferring up to 20 aircraft to Amber Aviation over the next two years from its existing fleet which will then be operated under Amber Aviation’s AOC. “This partnership with Amber Aviation offers NetJets a unique opportunity to provide long-term service in the Asian Market to our owners,” said Adam Johnson, NetJets Chairman and CEO. “The team at Amber Aviation shares NetJets’ commitment to safety and service, and is a truly collaborative partner that we look forward to working with alongside our respected co-investors.” NetJets will also support Amber in the acquisition of additional business jets direct from various manufacturer with whom NetJets has long standing relationships.
The additional funding will assist Amber Aviation in setting up a new Jet Card, a Membership Club but most significantly, a Shared Lease program. “The Shared Lease program will be among the first in China,” said Chang Qiusheng, founder and president of Amber Aviation. “There’s a huge gap in the market for charter users that wish to take the next step towards full aircraft ownership given the financial undertaking required. By bridging the gap with our Shared Lease, Jet Card and Membership programs, Amber Aviation will help grow the number of business aviation users in Asia, which will benefit the whole industry.”
Amber Aviation will receive its first aircraft from NetJets in April 2022, with the remaining aircraft due to be transferred before the end of 2023. NetJets will also assist in setting up the new programs by providing service support, sales assistance, product design and legal support.
“I’d like to thank everybody on both the Amber Aviation and NetJets sides for working so hard to make this happen. I am incredibly proud that NetJets chose Amber to be its partner, as it demonstrates how far Amber Aviation has come in the past four years since being set up.” Said Chang. “With NetJets’ assistance we can quickly build up the available fleet of aircraft so that we can be ready once international borders fully reopen. We understand that the size of the fleet is very important, so by having aircraft in place ready, we are sure that we can be successful.”