Amber Aviation, under its sub-brand AmberNet, plans to launch a full fractional aircraft ownership program via which owners can purchase a share representing a set number of flight hours per year with guaranteed availability and a minimum notice period of 24 hours.

At the end of the contract term, owners will be able to sell their fraction of the aircraft or continue with the program without incurring any additional acquisition costs.

“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 program, setting a solid foundation for a successful program introduction and future accomplishments,” said Chang Qiusheng, founder and president, Amber Aviation.

Amber Aviation garnered strong support from its existing shareholders during the Series C financing round for its sub-brand AmberNet.

Launched in April 2022, AmberNet launched China’s first fractional lease program to allow clients to own have aircraft without the high costs. This program resonated across Asia, with many clients choosing to join the program from across the region beyond China including growth economies in Southeast Asia.

The company said 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 achieved the utilisation rate for business jets in line with the industry average.

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Adel Mardini, founder & CEO of Jetex said: “Jetex is pleased to partner with JetClub and we see this as a natural evolution of our service offering. Both JetClub and Jetex are leaders in innovation as they offer a new way for more consumers to access private aviation and enjoy its benefits. We are confident of the value Jetex can add to JetClub’s discerning fractional aircraft owners and passengers,” he said.

Vishal Hiremath, founder and CEO, JetClub said: “Our agreement with Jetex allows us to explore the market, gain feedback from clients and expand our service offering, ensuring our clients have the best possible experience around the world. Our goal is to allow our clients in the United States, Europe or Asia to be able to have access to a worldwide fleet.”

JetClub and sister company Jet It now operate a fleet of 14 HondaJet aircraft, making the group the largest HondaJet operator in the world.

The companies said they aim to make “business aviation more accessible at a lower cost with exceptional service and a relentless priority on safety and efficient operations”.

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