Raised to Date: Raised: $32,850
Rolling Commitments ($USD)
Let’s say you want to take a trip that is about 300 miles. That feels too long to drive, but you’re limited by predetermined airline flight times. If flights are limited, then your flight time, especially if there are any layovers, might end up taking just as long as driving. Well, with PAX, you still control the on-demand part of your trip, but you then have an agent-based virtual negotiations with other passengers and charter operators. The result is creation of flights that meet your goals and are shared by other passengers. You then decide if you want to commit to the flight with a payment, place a hold and pay later, or simply be informed of changes as they occur.
Co-founders Mike Azzarello and Bruce Sawhill have had their fair share of flying around in the $23 billion per year private charter market. Mike founded JetLimo and Bruce founded DayJet, two companies that are similar to PAX. However, when those companies didn’t quite find the success their founders were looking for, the two learned from their mistakes, put their heads together, and founded PAX.
Flying on a private jet can bring the pleasure back to what often feels like the chore of flying. Don’t get me wrong - I have no idea about this from personal experience - but I can imagine. Apparently so can a lot of other people. Luxury is a hot commodity these days, and if this takes off, it could be like the next Airbnb….but, you know, with personal jets. If you dream about flying in luxury, this might be the dare-to-fly investment for you. If you’re okay with waiting in security lines with the rest of the common folk, well….you might want to let this jet charter its own way.
|Offering Name||Close Date||Platform||Valuation/Cap||Total Raised||Security Type||Status||Reg Type|
|WingTips (previously Personal Airline)||11/18/2022||Wefunder||$25,000,000||$124,925||Convertible Note||Funded||RegCF|
|Personal Airline||11/12/2019||StartEngine||$3,625,266||$18,659||Equity - Common||Funded||RegCF|
|Pax||12/29/2017||StartEngine||$3,595,166||$32,850||Equity - Common||Funded||RegCF|