CharterAuction.com Gains $1M Investment; Online Charter Company Receives Funds from Private New England Group.Business Editors/High-Tech Writers QUINCY, Mass.--(BUSINESS WIRE)--July 30, 2003 CharterAuction.com, Inc., the air charter services company setting a new price-driven standard in luxury travel, today announced that it had secured $1M in capital from Conyers Capital, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Headquartered in Greenwich, Connecticut Greenwich is a town in Fairfield County, Connecticut, United States. As of the 2000 census, the town had a total population of 61,101. It is home to many hedge funds and other financial service companies that have left Manhattan. Of the $1. , Conyers Capital is a private investment company. "CharterAuction.com not only provides executive business travelers with world-class customer service, but its online network also gives them a real edge on pricing in the jet charter market," said Roger M. Vasey, managing partner of Conyers Capital. "In this economy that pricing edge makes it worthwhile to choose private jet charter through CharterAuction.com over fractional membership travel arrangements. We are looking forward to working with a company as innovative as CharterAuction.com." CharterAuction.com is the charter industry's only online auction. Its mission is to provide the safest, highest-quality, private jet service at the most competitive prices, using its own exclusive, online technology. The company is revolutionizing the dynamics of the private air taxi air taxi n. A small aircraft that makes short local flights to areas not serviced by regular airlines. marketplace by making price a driving factor in a market never before driven by price. Its numbers provide proof of this revolution. Revenues were $1.2M in 2001 and $7M in 2002. In 2003, the company is experiencing exponential growth Extremely fast growth. On a chart, the line curves up rather than being straight. Contrast with linear. . "We are thrilled to receive this investment from Conyers Capital. It will enable us to continue to support our explosive growth rate and is a vote of confidence in our strategic business outlook and operational ethic," said Nate McKelvey, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CharterAuction.com. "We will use the funds to further strengthen our customer care initiatives and enhance our operational support. We look forward to working with Conyers Capital and using the investment to provide a higher level of service to all our customers." The Way CharterAuction.com Works Through its proprietary, online technology, CharterAuction.com is in constant contact with its network of more than 700 of today's top FAA-certified jet charter operators and with its jet charter customers. Customers can post online or call-in their trip date, time and destination information. The trip information is instantaneously posted online to CharterAuction.com's entire network of jet charter operators. The operators submit online bids on the cost of the trip. Customers can watch live, online, as operators compete for the business and the price of the trip goes down. Prices go down because CharterAuction.com's online network helps operators make more efficient use of their planes and enables fast, easy access to more trip opportunities. The CharterAuction.com team is available to customers 24 hours a day, seven days a week and requires only two hours notice to arrange a flight. They not only provide customers with perspective on the differences among a variety of types of aircraft, but also offer information on operator safety ratings, regional airport conditions and aviation market trends to help customers analyze options and evaluate bids. Additionally, they guide customers through their jet charter decisions to assure they arrive on time and on budget. Among members of the team, there is over 50 years of aviation industry experience. Typically, customers can save 30-40 percent on one way fares (empty legs) and 15 percent on many round trip flights using CharterAuction.com's exclusive online network. Prices quoted are all-inclusive of landing fees, fuel surcharge, crew overnights, and Federal taxes. CharterAuction.com Recently named as a Rising Star Company in Deloitte & Touche 's 2003 Technology Fast 50 Program for New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. , CharterAuction.com was established in 1999. Its mission is to provide the safest, highest-quality, private jet service at the most competitive prices, using its own exclusive, online technology. The company is revolutionizing the dynamics of the private air taxi marketplace by making price a driving factor in a market never before driven by price. CharterAuction.com provides point-to-point, private jet charter travel services anywhere in the world, at anytime and offers additional services including gourmet catering and door-to-door destination services on its chartered flights. Working in an industry that includes fractional competitors such as NetJets (Berkshire Hathaway Berkshire Hathaway (NYSE: BRKA, NYSE: BRKB) is a conglomerate holding company headquartered in Omaha, Nebraska, U.S., that oversees and manages a number of subsidiary companies. , NYSE NYSE See: New York Stock Exchange : BRK BRK Break BRK Broken (meteorological, cloud cover) BRK Bayerisches Rotes Kreuz (Bavarian Red Cross) BRK Berkshire Hathaway (stock symbol) BRK Brick .A and BRK.B) and Flight Options (Raytheon NYSE: RTN RTN Return RTN Raytheon Company (stock symbol) RTN Research Training Network RTN Rotarian RTN Routing Transit Number RTN Recursive Transition Network RTN Register Transfer Notation RTN Radial Tangential Normal ) the company was established to provide affordable private air charter travel services to business travelers and offer guaranteed competitive charter flight prices to travel agents and corporate flight departments. CharterAuction.com is headquartered in Quincy, Massachusetts Quincy is a city in Norfolk County, Massachusetts. It bears the nicknames "The City of Presidents," "City of Legends," "Birthplace of the American Dream."[1] A major part of Metropolitan Boston, Quincy is a member of Boston's Inner Core Committee for the Metropolitan and has additional offices in Louisville, Kentucky  “Louisville” redirects here. For other uses, see Louisville (disambiguation). . For more information, please visit the web site at www.charterauction.com. |
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