NEW YORK, July 01, 2020 (GLOBE NEWSWIRE) -- Ricky Sitomer, CEO of Star Jets International (OTCPINK:JETR), the leading Private Jet Charter Company, announces the Company’s 2019 year-end financials. In 2019, Star Jets International, in its third full year of operation, did $5,374,513 million in revenue. In the first quarter of 2020, JETR did $1,517,000 in revenue.
The Company anticipates $2,800,000 in revenue in the second quarter of 2020 from increases in private travel bookings related to rising concerns of the safety of commercial air travel amidst Covid-19 concerns.
Mr. Sitomer stated, "We are extremely proud of our continued progress in our third full-year of operations. In 2017, Star Jets International became a publicly traded company with an official name change, and a trading symbol change to JETR. In 2018 and 2019, we have executed our business and operational plan very well and look forward to our continued progress and continued growth in 2020 and beyond.”
During these challenging times, we are seeing a true dynamic shift in air travel due to the coronavirus. The Company does not believe that this shift will change as the severity and restrictions specific to the pandemic are likely becoming the “new normal” for the foreseeable future. Wealthy individuals, families and their elderly parents who were wealthy enough to fly privately in the past and yet did not, are now all starting to fly private jets in order to avoid the myriad of health risks linked to airports and air travel. Arguably, those individuals who were previously only considering the option of private travel are now much more likely to budget for the extra expense for the sake of safety and health.
Safety and security are of paramount importance now more than ever. Individuals are more willing to spend more money in the current environment if it ensures a certain standard and level of protection from the virus. Once again, this is going to be a permanent shift in the mentality of the private jet flier, and, also opens up the market to many more potential private jet consumers.
As states and countries begin to open up, JETR’s management believes that the demand for private aviation will be even stronger than it has been in the last 3 months. The Company is equipped to manage an increased demand in private air travel bookings and prepared to scale the business accordingly.
As a result of Covid-19, a fundamental change in the buying behavior of the luxury traveler continues to occur, and the Company anticipates the demand for private jet travel to increase its revenue now and in the immediate future.
Furthermore, The Company’s management team engaged an auditing firm to do the 2018 and 2019 audits in order to up-list onto the OTCQB, with an expectation that the audits and up-listing can be accomplished in the second half of 2020.
About Star Jets International, Inc.
Star Jets International, Inc. (OTCPINK:JETR) offers its customers all the advantages of owning a corporate jet, without the burdens associated with ownership. This includes unprecedented flexibility through access to over 5,000 private jets domestically and 15,000 private jets worldwide. Star Jets executives have nearly 20 years of experience in aviation and marketing, http://starjetsinternational.com/ and https://private-jet-charter-flight.com/. Watch Star Jets International “You Tube” video - https://www.youtube.com/channel/UCJZK4vvDiMNlXE-7g-s11OQ and watch two CNBC Commercials about the Company- https://wave.evolphin.com/EVyy7j#.
For more information about this press release and Star Jets International, contract Ricky Sitomer at 917-331-5152.
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
CONTACT
Ricky Sitomer
CEO
Star Jets International Inc.
Tower 57
135 East 57th Street 11th Floor
New York, NY 10022
Mobile: 917-331-5152
Phone: 855-9-FLYJETS
Fax: 212-658-9810
RS@StarJetsIntl.com
www.StarJetsIntl.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/adece458-59d5-4aeb-80c7-bb403a94a657