Vela Technologies PLC Update on investment in Portr Limited (8929Y)

TIDMVELA

RNS Number : 8929Y

Vela Technologies PLC

11 December 2017

11 December 2017

Vela Technologies plc

("Vela" or the "Company")

Update on investment in Portr Limited

AirPortr Limited launches new service with American Airlines

The Board of Vela (AIM: VELA), the investing company focused on early-stage and pre-IPO disruptive technology investments, notes the recent press coverage regarding Portr Limited, trading as Airportr ("AirPortr"), the London based travel technology start-up, which has partnered with American Airlines to allow check-in of luggage for its flights from London. This follows the partnership previously announced with British Airways.

Vela has an interest in 125,619 shares in AirPortr, equivalent to 3.7 per cent. of AirPortr's issued share capital.

Commenting on the news, Antony Laiker, Executive Director of the Company, said:

"American Airlines is following British Airways in endorsing the Airportr service enabling passengers to check-in away from the airport and benefit from a stress free experience through to the carousel at their destination. Customer feedback has been very positive with a high level of repeat use by satisfied customers. Following the recent investment by Stobart in Airportr, we look forward to seeing how Airportr's urban ground handling activities develop further."

Excerpts from AirPortr's press release are copied below:

"Passengers can now check in their luggage from any London address for up to 300 American Airlines and British Airways flights per day.

-- AirPortr's mobile luggage check-in and delivery services now available on all American Airlines flights to the US departing London Heathrow.

-- Service, described as "the best travel money ever spent", available on select American Airlines flights.

-- Partnership to accelerate growth for London start-up AirPortr, having delivered over 50,000 bags in 12 months since launch.

-- New service development allows instant excess luggage payments by the customer through the AirPortr driver app on doorstep.

AirPortr, the London-based city luggage check-in and delivery service is now available to customers flying from London Heathrow to the United States on American Airlines, the world's largest airline.

The new partnership invites customers flying on any of American Airlines' 20 daily flights from London Heathrow to the U.S. to have their luggage securely checked-in from any London address, removing the stresses of transporting their bags across the Capital and checking-in at the airport.

Described by customers as "a life saver" and "the best travel money ever spent" AirPortr allows travellers to get to the airport more easily by public transport, reduces airport check-in times and creates a simpler, stress-free travel experience.

AirPortr CEO Randel Darby said: "Partnering with the world's largest airline, American Airlines, means we can serve more customers and takes us one step further in establishing mobile luggage check-in as a new standard in the air travel experience.

"American Airlines opens our service up to more passengers travelling from London to the United States and helps us better serve customers booking with American's transatlantic joint business partner British Airways."

Simpler journeys for more quality time

American Airlines passengers flying into Heathrow can also have their luggage delivered to and from their central London hotels, allowing them to enjoy more luggage-free time to enjoy the city regardless of their check-out or flight times.

Thanks to an upgrade to the digital experience, customers can now instantly approve any excess luggage charges for overweight baggage via the AirPortr service on their doorstep.

Randel Darby added: "With more than 50,000 bags safely and securely delivered, AirPortr has been truly embraced by Londoners. From families juggling oversized luggage and leisure travellers flying with sports equipment, to young professionals not wanting to be that person with luggage during rush-hour, we've struck a chord with people wanting to take the hassle out of getting their bags to and through the airport."

Delivering expansion

Having launched with British Airways in October 2016, and recently attracting GBP2 million investment from The Stobart Group, AirPortr is the first mobile luggage check-in service in the world to be integrated into airline booking systems.

Also available to all British Airways customers flying from Heathrow and Gatwick, AirPortr is now available for 300 outbound flights per day with luggage check-in and deliveries starting at GBP30 per item for the first item and GBP10 thereafter.

AirPortr's services were developed in consultation with the Civil Aviation Authority and the Transport Security Administration in the US to ensure all processes meet aviation security regulations to give travellers peace of mind at every step of the journey.

Using AirPortr

American Airlines customers can book a one-hour collection slot through AA.com via airportr.com or with AirPortr's UK call centre up to seven hours in advance of their flight from London Heathrow to the United States*.

An AirPortr driver will collect and weigh passenger's bags at the chosen time and scan and check passports and boarding passes. Luggage is then sealed in coded, tamper-proof cases.

Luggage is then screened according to CAA security standards and delivered to the airline for further screening and customers are sent IATA bag receipts around 90 minutes before take-off.

Passengers then collect their bags from the baggage reclaim at their destination airport.

For more information about AirPortr visit airportr.com.

*The Bag Check-In service is only available on outbound flights from London Heathrow to the U.S. This service is not currently available for pick-up in the USA."

For further information, please contact:

 
 Vela Technologies plc 
 Brent Fitzpatrick, Non-Executive 
  Chairman                            Tel: [phone] 
  Antony Laiker, Director             262 443 
 Allenby Capital Limited 
  (Nominated Adviser) 
  Nick Athanas/Katrina Perez/Asha     Tel: +44 (0) 20 
  Chotai                              3328 5656 
 Smaller Company Capital Limited 
  (Broker) 
  Rupert Williams/Jeremy Woodgate     Tel: +44 (0) 20 
                                      3651 2910 
 

About AirPortr:

Founded in 2012 by entrepreneur Randel Darby, AirPortr is pioneering flexible and efficient luggage transportation for airline passengers.

AirPortr is the world's first mobile luggage check-in and delivery service that is integrated in airline booking systems. The service was successfully launched in 2016 in partnership with British Airways and is currently available for British Airways and American Airlines customers travelling via Heathrow and Gatwick airports in London.

AirPortr expects several more airlines to be added to the platform over the coming year in response to inbound interest and increasing demand for alternative mobile luggage check-in solutions.

AirPortr customers can check-in their luggage from home, at the office or in their hotel lobby from the day before travel up to seven hours before flight departure, choosing a one-hour collection slot.

AirPortr drivers are strictly vetted to aviation standards and use the company's mobile technology to reconcile customer identification documents and baggage with airline systems as part of its secure process for check-in and delivery to the airline.

AirPortr's services were developed following consultation with the Civil Aviation Authority and Department for Transport and working with established and trusted partner airlines to ensure the service is compliant with strict aviation security regulations. All bags are sealed with tamper-aware technology upon collection and vehicles remain locked at all times.

For more information go to airportr.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 11, 2017 02:00 ET (07:00 GMT)