DFW-Based Group Launching “Game-Changer” Concept in Airline Travel
We’re honored by the confidence that the industry experts at DelMorgan, one of the world’s leading investment banks, has placed in our proposition, and we are delighted to have them by our side.”
— Brad Beakley, Current Aviation CEO
DALLAS-FT. WORTH, TX, USA, November 8, 2021-- Current Aviation, Inc.TM announced today that it has retained DelMorgan & Co. (www.delmorganco.com), a leading global investment bank, as strategic advisor for its $40M capital raise to launch what one advisor calls a “game-changer” in airline travel between cities underserved by airlines today.
Dallas-based Current will offer direct flights, on smaller airplanes, between cities where scheduled air service is either nonexistent or significantly reduced. Current CEO, Brad Beakley, says, "The size of these markets makes flights uneconomical for both traditional carriers and ultra-low-cost carriers, leaving customers facing hours of travel through airline hubs, or by car, to reach destinations that are just an hour or two away on direct flights."
Current Aviation can launch in months rather than years because, unlike traditional start-up carriers, Current is not acquiring aircraft or facilities. Instead, Current uses its technology and industry expertise to handle all commercial and customer functions for its operating partners, who fly their airplanes, with their employees, under the Current brand.
Beakley estimates that, at scale, Current can serve as many as 400 U.S. markets, capturing millions of customers who are not flying today because it is simply too inconvenient. He added, “Our proposition is this: to make air travel between underserved and unserved markets easier, reasonably priced, hassle-free and convenient for consumers, with a model that is sustainable for carriers, their employees and the cities they serve.”
“Current’s executive team of veteran airline, hospitality, and travel technology industry executives has fine-tuned its model over the last year and is in talks with several airline operating partners to launch in carefully selected markets within 120 days of funding,” Beakley said. “We’re honored by the confidence that the aviation industry experts at DelMorgan -- one of the world’s leading investment banks -- has placed in our proposition, and we are delighted to have them by our side.”
Rob Delgado, Chairman of DelMorgan & Co., commented, “Current Aviation is prepared to launch a true ‘game-changer’ for the world of commercial aviation. The company’s management team includes some of the most experienced executives in the business, and we are very excited to help them realize their vision and launch this new entrant into the aviation marketplace.”
Neil Morganbesser, President & CEO of DelMorgan & Co., stated, “The Current platform addresses a massive hole in the regional flight market that major airlines are structurally not focused on addressing. The market has seen exceptional investor interest in this space, and we are extremely enthusiastic about connecting sophisticated and knowledgeable investors with Current Aviation’s terrific opportunity.”
Vahan Callan, Head of Aviation and Senior Managing Director at DelMorgan & Co., added, “Current’s asset-light model gives it unparalleled flexibility by allowing it to source the right aircraft for the right mission regardless of the size of the market. As demand develops in a market, Current can act in almost real time to meet that demand in an economically viable way. This adaptability is a testament to the company’s significant commercial and industry expertise. We are proud to partner with Current and look forward to playing a part in their launch and transformation of the regional aviation business.”