Business aviation company Amber Aviation has announced that it has successfully completed its Series C funding round and will launch Asia’s first true fractional aircraft ownership program by the end of the third quarter of 2024.
Launched in April 2022 as a sub-brand of Amber Aviation, AmberNet includes China’s first fractional lease program in which clients enjoy the same status as if they owned the whole aircraft themselves, but without the high costs associated with aircraft ownership.
This pioneering program resonated across Asia, with many clients choosing to join the program from across the region, especially from AmberNet’s core China market, as well as from many of the growth economies in Southeast Asia.
Chang Qiusheng, founder and president of Amber Aviation said, “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.
“The success of Amber Aviation’s shared leasing program 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 program by Amber Aviation, tailored to the regional market and featuring comprehensive offerings, will catalyze the company’s business growth, presenting customers with a diversified and flexible array of aviation service options.”
AmberNet will now take the next step and launch a full fractional aircraft ownership program.
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 they will be able to sell their fraction of the aircraft or continue with the program without incurring any additional acquisition costs.
