Star Jets International Inc (OTCMKTS:JETR) Stock Soars After Reporting Impressive Earnings
Star Jets International Inc (OTCMKTS:JETR) offers customers the benefits of owning a corporate jet without the burden of ownership. It includes incredible flexibility with access to more than 5,000 private jets domestically as well as 15,000 private jets globally. The company has about two decades of experience in aviation.
Market Stats
On Friday, JETR stock surged 16.23% to $0.0895 with 529K shares, compared to its average volume of 25K shares. The stock moved within a range of $0.0665 – 0.0895 after opening trading at $0.0665.
Ricky Sitomer, CEO of Star Jets International, Inc. (JETR), Announces All-time Record First Half 2022 Revenue of $9,300,000, a Year-over-Year Increase in Revenue of 86%
The leading private jet charter company, Star Jets International on August 15, 2022, announced that the firm witnessed a record $3,800,000 for quarter two ending June 30, 2022, an increase of 59% year-over-year. The firm booked more than $9,300,000 in the first half of 2022, which was an 89% surge year-over-year. Star Jets International continues the growth trend with demand for private air travel not slowing down.
Star Jets is expecting growth for the entire year due to the pent-up demand. Furthermore, the fuel cost, as well as the cancellation of commercial flights, led to a revenue increase for Star Jets. The company is expecting first-time passengers to become repeat customers.
Ricky Sitomer, CEO of JETR said that the firm is proud of announcing a record $9,300,000 revenue in the first half of the year and the growth in the private jet industry. Sitomer added that demand for private jets is augmenting, and he expects that demand will grow for many years in the future. As per the CEO, travelers were on the sidelines till now but are looking at getting away after receiving the vaccine. Sitomer further said that the company is hoping for continued success and hard work in serving clients with private travel needs. Star Jets International has completed the audit for 2019, 2020, and 2021 and is pursuing an up-list onto NASDAQ in the next few months.
RICKY SITOMER, CEO of Star Jets International, Inc. (OTCPink: JETR), Announces All-time Record First Quarter 2022 Revenue of $5,500,000, a Year over Year Increase in Revenue of 51%
Star Jets International Inc on May 17, 2022, announced that the firm booked an all-time record of $5,500,000 for the quarter ending March 31, 2022, an increase of 51% year over year. The company is continuing with a significant growth trend. Health concerns on Covid-19 remain the reason for the uptick in private travel demand. Additionally, the cancellation of commercial flights due to pilot scarcity and high fuel costs led to the company’s revenues. It is anticipating the new travelers to become repeat customers for the newfound benefits of convenience and luxury in private air travel.
Ricky Sitomer, CEO of JETR said that the company is proud of the record $5,500,000 revenue in quarter one of the year. Sitomer anticipates that the demand will continue, and the firm is starting to see an uptick in demand for Europe in the summer. The CEO hopes for continued success and to build a fantastic company in the private aviation industry. He also said that the firm will serve clients with all private travel needs.
Traders Corner
JETR stock is trading above the 20-Day and 200-Day Moving averages of $0.0728 and $0.0749 respectively. However, the stock is trading below the 200-Day moving average of $0.1128.
