JetBird announces €10m strategic investment

JetBird, the Pan-european private jet airline based in Dublin has today announced a strategic investment of €10m. The airline also announced that it had secured finance from RBS Group PLC for the pre delivery payments of it's first 25 Embraer Phenom aircraft.

The investment is a private placement of funds from a Middle Eastern family owned trading group. As a result of the investment the unnamed investor (with interests ranging from banking to hotels and leisure) will be appointing a representative to the JetBird board.

JetBird are the European launch customer for the Embraer Phenom 100 VLJ (Very Light Jet) and to date have placed firm orders for 53 of the variant. The company is in the process of firming orders for the final 47 aircraft.

Commencing operations in 2009, JetBird are hoping to transform the executive jet market in Europe by offering a product which will be costed at up to 50% less than that of the current operators - in essence establishing Europe's first low cost business jet operator.

JetBird was founded by Claret Capital which is a private investment firm founded in Dublin in 2005 by JetBird Chairman, Domhnall Slattery.

The first Phenom was rolled out on June 16. Pictured below the first aircraft takes to the air from São José dos Campos on July 26. Photo courtesy Embraer.