LunaJets Nearly Doubles Revenue but Sees Clouds Ahead

Geneva (ots/PRNewswire) - The European Market Leader Sees Unsustainable Revenue
Growth.

EBACE 2022

As the private aviation charter market continues to enjoy a "new golden age",
Geneva based LunaJets warns at this EBACE of a hard landing as it sees more
signs of market bubbles.

"This year-to-date, our growth is over 90%, considering a $110M revenue in 2021
for our private jet charter division" comments Guillaume Launay, LunaJets Sales
Director "our Web platform model and industry position puts us at the front line
of any market changes; and I can tell you that the shift has been dramatic"
Launay adds.

LunaJets' website and mobile app receives thousands of visitors every day. A
large portion of whom are newcomers who aim to avoid post-Covid commercial
airport and airline experience at any cost. Last year, LunaJets acquired north
of 1,000 new clients.

Eymeric Segard, LunaJets CEO, warns "I am delighted with our performance so far.
We continue to deliver on our strategy based on the best technology, and expand
with new offices into new markets. Nonetheless, I maintain a cautiously
optimistic and opportunistic approach as I don't believe in the current euphoria
and see more risks ahead for our industry. Either the current trend lasts, and
the market faces a major supply issue, or it reverses dramatically and faces a
new wave of bankruptcies. 2021 was like a wild pendulum, from one side to the
other in 3 months and I don't see any indication of a soft landing. Having said
that I will not be surprised if we experience another >50% growth in our revenue
this year if the current situation remains."

Segard adds "Most of our competitors have either been acquired, gone into
administration or are currently for sale. With our long-term track record and
cash rich balance sheet we are ready to seize any opportunity as we expect more
consolidation ahead when the market reverses".

Segard lists his view of the risks for the industry:

- Post-Covid recovery mostly based on new clients and short flights, rather than
existing and long haul.
- Business clients have not returned to pre-Covid level as video and remote
working are still favoured
- Financial market volatility may send new clients back to commercial airlines
- The crypto wealth effect may disappear as fast as it stormed our industry
- War in Ukraine
- Supply chain disruption will delay plane delivery and maintenance
- Pilot and crew shortage
- Impact of inflation on charter rates
- Rising cost of debt and financing will impact the velocity of sales and