Air Transportation Network Prepares To Execute Aircraft Fleet Order As Company Continues To Grow

Air transportation network OneJet, which provides increased access to nonstop travel in small and medium size markets, confirmed plans Wednesday to finalize the selection of its next fleet platform during the fourth quarter. The company has retained SkyWorks Capital to assist in the structuring and closing of the transaction, and expects to finalize its selection within the next four to six weeks.

"The OneJet program represents the opportunity to provide easily accessible and relatively low cost nonstop travel solutions, for businesses and consumers in U.S. regional air markets," said OneJet CEO Matthew Maguire, speaking at the North American Airport Conference in Long Beach, CA. "[This] announcement reflects a continued and increasing level of investment in our product and network, to benefit our current corporate customers, as well as those customers and communities, which will join our network throughout 2016 and beyond."

OneJet currently utilizes Hawker 400 light jet aircraft and has confirmed that its latest selection will also be within the light jet category, with aircraft capable of transporting 7-8 passengers up to 1000 miles. The program's expansion schedule will call for approximately one aircraft per month, beginning in January of next year and up to 50 aircraft over the course of the next three years.

"OneJet is engaging the substantial challenges, and therein opportunities, created by the unprecedented structural changes currently taking place within the U.S. air transportation system," said Former U.S. Deputy Secretary of Transportation, John Porcari, a senior advisor to the program. "The forthcoming fleet commitment represents a meaningful and long term investment in communities and markets which have seen dramatic reductions in service over the past several years. This step reflects our commitment to provide a high quality and consistent nonstop product to these customers."

The Company currently operates a five point network, including Indianapolis, Milwaukee, Pittsburgh, Memphis, and Nashville. OneJet service includes TSA Pre access for eligible customers, expedited boarding, and complimentary on board amenities. Flights are easily bookable through corporate points of sale and online travel retailers, including Expedia.

Since launching operations in April of this year, the Company has engaged preferred agreements with ten Fortune 500 companies, including FedEX, and has seen yields grow 10-15% month over month as corporate traction and usage has increased.

"The combination of mass scale distribution and on demand optimization science represents the opportunity to develop highly efficient, scalable networks to meet air service needs in the multi-billion dollar regional travel market," said Dr. Peter Belobaba, principal research scientist at MIT's Global Airline Program and OneJet advisor. "With established service and distribution systems now in place, today's announcement reflects the first step of structured capacity growth to expand the reach and operational volume of the OneJet network. We're tremendously pleased to take this step."

(Source: OneJet news release)

FMI: www.onejet.com