Aero Technologies Raises $65M To Grow Premium Air Travel Offering

Premium air travel provider Aero Technologies has raised $65 million in Series B financing to grow its offering and expand into new markets.

As a public charter operator and indirect air carrier, Aero offers premium leisure travelers semi-private air travel with seats on 16-seat aircraft that make direct flights between private terminals, and says it offers a private aviation experience with better cost and efficiency, according to a Thursday (Aug. 18) press release.

“Aero’s success over the last few years highlights that customers in both the U.S. and Europe have been waiting for the Aero travel experience,” Aero CEO Uma Subramanian said in the release. “Aero is growing fast, and we look forward to bringing the Aero experience to new markets in the coming months.”

Aero offers flights to Aspen, Los Cabos and Sun Valley from private terminals in Los Angeles and San Francisco, as well as Ibiza, Mykonos and Nice from London, with concierge services throughout the process, per the release.

The revenge shopping trend of 2022 has been heating up — especially in categories like travel — as consumers buy goods and experiences that were off-limits or unavailable during the worst disruptions of the pandemic.

Read more: Tempered by Inflation, Revenge Retail Trend Favors Experiences, Luxury Goods

As the economy pushes against the optimistic revenge retail bursts seen in 2021, this summer is seeing more selective revenge purchases, with travel topping the list.

In the PYMNTS study “Digital Economy Payments: Going Digital To Pay For Travel And Restaurant Dining,” which surveyed 3,250 U.S. consumers and was released in March, mobile is a leading channel for travel purchases now.

See also: Digital Economy Payments: Going Digital To Pay For Travel And Restaurant Dining

“The move to mobile devices for online travel has been accompanied by growth in the use of digital payments,” the study noted, adding that 8% of consumers used PayPal and 4% used other digital wallets.