OJETS launches in Singapore with Minsheng-financed aircraft
OJETS has launched operations from its base in Singapore, with a Global 6000 and Challenger 650 financed by Minsheng Financial Leasing.
The new operator will offer both on-demand charter and block hour programs that guarantee 48-hour availability to aircraft, with no ferry flight fees.
To get the operator off the ground, the OJETS team has raised $350 million in equity and debt.
Part of that will be used to set up the operations, the rest will be used to quadruple the fleet by the end of June.
“We are honored to have closed with Minsheng Finance Leasing Co. of China as our finance partner and look forward to building our relationship as we expand OJets,” said Michael Ta, CFO, OJets. “We have implemented a growth objective to quadruple the size of OJets’ current fleet by the end of Q2. This growth is underpinned by US$350 million in equity and debt; and will establish OJets as a global operator with one of the newest fleets of long-range business aircraft in service.”
OJETS says its branding is inspired by the “ Asian symbol “ensō”, which represents strength, elegance and infinity, adding that it will deliver ‘world-class service, tailored to the most discerning Asian and international travelers.’
“We are delighted to collaborate with OJets, a new integrated provider of comprehensive business aviation services, to bring a Global 6000 and a Challenger 650 into its fleet,” said Wang Fuhou, president, business and commercial aviation leasing division, Minsheng Financial Leasing Co., Ltd. “Both parties are confident in our partnership and in the business aviation market. We look forward to the success of this cooperation.”
The Challenger 650 and Global 6000 were redelivered to Malta on April 5. The Challenger 650 is registered 9H-OJJ and the Global 6000 is registered 9H-OJT.