Business
Star Jets International, Inc. (JETR) Posts Over $5.3 Million of Revenue for 2019 and $4.3 million in first half of 2020 Amidst Covid-19 Concerns
Star Jets International, Inc. (JETR) Posts Over $5.3 Million of Revenue for 2019 and $4.3 million in first half of 2020 Amidst Covid-19 Concerns.
About this update from Star Jets International, Inc.
[{"type":"text","content":"\n 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 eq...