16 December 2013
Vela Technologies plc
("Vela" or the "Company")
Investment Update - Portr Limited
Portr Limited ("Portr") announces agreement with Heathrow Express
Vela Technologies plc is pleased to announce that its investee company Portr
Limited, which is looking to launch its AirPortrâ„¢ commercial luggage transfer
service at Heathrow Airport in early 2014, has agreed underlying initial
commercial terms with Heathrow Express, the premium express train provider
linking Heathrow Airport and central London. The two companies have reached an
understanding over the co-promotion of their services as a bundle to existing
and new customers both domestically and internationally when Portr launches its
AirPortrâ„¢ service in 2014.
Portr and Heathrow Express are working together to deliver a unique and
competitively priced service package which offers luggage-free travel between
Heathrow Airport and central London. Additional benefits arising from the
service package, which will predominantly target time-pressured business users,
include greater cost efficiency and reduced carbon footprint when compared to
taxis and other private transportation.
The service package is expected to be marketed to passengers in line with
Heathrow Express' `The smarter way' ethos and sold online via a fully
integrated booking process allowing a customer to complete the purchase of
their AirPortrâ„¢ luggage transfer and Heathrow Express ticket in one
transaction.
The partnership will enable Portr to reach a significant customer base with the
combined service offering and provides both parties with an incremental revenue
opportunity.
Vela Technologies plc has a £50,000 2 per cent. shareholding in Portr.
Ends
For further Information:
Brent Fitzpatrick, Non-Executive Chairman e-mail brent@lowwave.co.uk
Antony Laiker, Director 0207 330 1885
Vela Technologies plc
ZAI Corporate Finance, Nomad Tel 020 7060 2220
Peter Trevelyan-Clark/Tim Cofman/Wei Wang
Peterhouse Corporate Finance, Broker Tel 020 7469 0932
Eran Zucker
About Heathrow Express
Heathrow Express is a private company, which owns its own trains, the stations
at Heathrow Airport and the entire below-ground section of the line between
London Paddington and the Airport. The service, which was launched in 1998, has
carried over 60 million people since it started and now carries an average of
16,000 customers a day.
It is the fastest rail link from London to Heathrow, with a journey time of
just 15 minutes to Terminals 1 and 3 and has been voted as Best Rail Operator
(Business Travel Awards 2011) and Best Ground Transportation Europe (Business
Destinations Magazine 2012).
Heathrow Express has saved 204 million kg of carbon emissions since launch and
offers customers a 54% reduction in carbon emissions over a taxi.