Online business aircraft charter broker Victor has acquired bespoke US charter provider YoungJets in a move designed to increase its penetration of the North American market.
Victor has also secured $5 million in funding from customers who it describes as “passionate about the service and want to be part of its growth”.
This is the second tranche of funding secured by the London, UK-headquartered company in less than 90 days.
Victor’s existing customers have already invested $8 million to help fund its expansion. The money will be used to help the venture scale its operation as demand for its services grows internationally. Institutional investment will also be sought later this year, Victor says, to fund the next phase of its development.
YoungJets chief executive David Young will remain with the Santa Barbara, California-based company he founded in 2012.
In his new role as senior vice-president, he will help to build Victor’s North American footprint and oversee its operations across the continent.
Source: Flight International
