Categories: News

Share

For Immediate Release

Nov. 8, 2021 – Current Aviation, Inc. announced today that it has retained DelMorgan & Co., 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.”

About DelMorgan & Co.

With over 150 years of combined experience and over $300 billion in successfully completed transactions, the professionals at DelMorgan provide world-class financial advice and assistance to companies, institutions, governments and individuals around the world. DelMorgan’s unique approach to business has grown out of its dedication to its core principles and the experience of its professionals over the course of decades working on some of the most challenging, most rewarding and highest profile transactions around the globe. DelMorgan brings significant intellectual firepower to each client situation. DelMorgan treats each engagement as a new and exciting opportunity to be capitalized on, not following a “standard approach” but rather tailoring its approach to each situation. DelMorgan thinks outside the box, identifying and analyzing all options in conducting a strategic assessment, and striving to be recognized as a thought leader in each of its assignments.

About Current Aviation

Led by a world-class team of veteran airline, hospitality, and travel technology industry executives, Current Aviation, Inc. brings direct one-to-two-hour flights, on smaller airplanes, between cities that have either been abandoned or are underserved by major airlines. Up to 400 U.S. markets are currently underserved or unserved, leaving millions of customers without a convenient way to travel. Current operates under an asset-light infrastructure, leveraging independent carriers as flight operating partners, while handling all commercial and customer facing functions including determining its route network, setting competitive fares, scheduling, marketing, distribution and ecommerce. This model makes it possible for independent carriers to serve smaller markets efficiently and for the long term, granting them sustainability and independence in a space where they are often negatively affected by the financial ups and downs of the broader airline industry. Current Aviation’s mission is to make air travel easier, reasonably priced, and hassle-free for flyers in underserved markets, with a model that is sustainable for carriers, their employees, and the cities they serve. Visit flycurrent.com or Current Aviation on LinkedIn.

Press Contacts

Contact: Rob Delgado/Neil Morganbesser, DelMorgan & Co.
(310) 319-2000 |  inquiries@delmorganco.com

Contact: Andrea Rader, Current Aviation
(480) 262-3898 | inquiries@currentaviation.com

flycurrent.com | visit Current Aviation’s LinkedIn page

STAY IN THE LOOP

Subscribe to our free newsletter.

Thank you for your message. It has been sent.
There was an error trying to send your message. Please try again later.

You can unsubscribe at any time. View our privacy policy here.

Related Posts

View all
  • Published On: November 28th, 2021Categories: News

    Listen to CEO Brad Beakley talk about Current Aviation

    Continue reading
  • Published On: November 11th, 2021Categories: News

    Current™ CEO Brad Beakley explains the Current value proposition for investors, airlines and consumers.

    Continue reading

Get in Touch with Us

Have a question or comment? Let’s talk!

Contact Us