Press Release

Issued by MySky.

May 26, 2016

After two years of research and development, My Jet, a Swiss-headquartered company working in the sectors of business aviation, audit and finance, has offered to jet owners its innovative solution to forecast, collect, store and analyse all relevant aircraft data on-the-go.

The software supported by an in-house team of more than 30 professionals brings transparency, control and savings to private jet operation. It has been developed in Switzerland since May 2014 with one main objective: to revolutionize jet ownership through advanced technology and human expertise.

Today it allows to reduce significantly the amount of time and money dedicated to owning a plane. More than just software, MyJet provides the most advanced financial approach combined with a unique dynamic audit concept that allows a detailed cost tracking and optimisation 24x7, at any given time.

“We are confident that My Jet will bring added value to all business aviation industry stakeholders, from plane owners and charter operators to world leading manufacturers and financial institutions that provide aircraft leasing services,” said Kirill Kim, CEO and co-founder of My Jet. “We believe that in the nearest future the unique technology which we have put at the heart of My Jet will revolutionize the way of financial accounting and control of private jets and other assets in the transport industry.”

“During our first nine months of operations we have convinced 24 owners to join us, out of 28 we have met, which means a conversion rate of approximately 85%. This shows clearly there is a need for our product in the market” added Christopher Marich, My Jet global strategy director and co-founder. “On these aircraft we have achieved an average saving potential of 17% combining fixed and variable costs. We expect to grow to 80 aircraft under our financial management by the end of 2016 on the European and CIS markets.”

The main features of My Jet's current release include:

- innovative flight budgeting tool based on real costs (compared to standard averages) allowing clear budget management and precise charter quoting if applicable;

- the most accurate cost tracking methodology eliminating inefficiencies and mistakes, even if the invoice arrives six months later, and needs to be split between several aircraft;

- dynamic audit controlling all costs linked to aircraft operation 24 x 7 and allowing much more accurate results by analysing all costs before, after and during the flight;

- the largest financial database in business aviation operation, allowing the owner to choose a service provider accurately and to have a clear picture of where he stands compared to the average;

- easy to access storage archive of all aircraft information that matter, allowing clear and transparent history and resulting in higher value and liquidity of the asset;

- fully customizable and adaptable mobile platform to match any potential need of all target groups.

My Jet is committed to increase its power, constantly developing new features with its dedicated in-house IT team. New software releases will be launched in July and September 2016, with more details on the additional features to be revealed soon.

The company's unique positioning in the market, at the crossroads of aviation, finance and IT, allowed creating an efficient and easy way to look at aircraft management, working hand in hand with owners, operators and suppliers. MY JET does not compete with aircraft operators or other service providers and defines its role as a neutral independent third party contributing to better and more transparent dialogue between the stakeholders. Being fully independent and privately funded, My Jet is not linked to any market player, at the same time offering added value for the whole business aviation industry by making it a simpler place to operate.