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The Warsaw Voice » Business » April 28, 2011
Business & Economy
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Have Money Will Travel
April 28, 2011   
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The market for VIP air travel is set to boom as more Polish businessmen and politicians use private air services.

The European market for business class and VIP air travel is worth a respectable 5 billion euros and is growing at an annual rate of 30-50 percent. The Polish market is estimated at 100 million euros, with an annual growth rate of 45 percent. The market for pilot training is worth an additional 25 million euros.

“More and more customers are opting to fly with private carriers rather than booking business-class tickets on scheduled flights,” says Dariusz Szpineta, CEO of Ad Astra Executive Charter, a certified carrier that boasts its own fleet. The company has been around since February 2009 and specializes in air travel for private customers and public figures who need VIP air taxi services. The company provides cargo transportation for postal and freight companies as well as the transport of organs for transplant and hazardous substances. It is licensed to fly both domestically and on international routes in Europe, Asia and Africa. The company also runs the Ad Astra Warsaw Flight Academy, a pilot training center.

Ad Astra Executive has decided to expand its fleet to meet the rapidly growing demand for air services and training. The company is planning to purchase new aircraft using money raised through a private placement. These will include jets (probably of the Gulfstream type) to meet the rising demand for VIP flights and eight AT3 training aircraft for the flight academy.

“We’re planning to raise around zl.5.8 million from a private placement of shares comprising 36 percent of our increased equity,” says Szpineta.

The company will be listed on the Warsaw Stock Exchange’s NewConnect alternative market after the share issue, but it aspires to move to the exchange’s Main List by the end of this year.

The company is hoping to break into the chartered flights market. The company has set its sights on becoming a major player in the tourist chartered flights sector over the next five years by acquiring a local charter carrier. The company is aiming to grab the lion’s share of the growing market for VIP business flights in Poland, to increase its share of the European market in this area, and to capture half the air training market in Poland.
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