Vela Technologies PLC Update re AirPortr (7065K)

TIDMVELA

RNS Number : 7065K

Vela Technologies PLC

17 December 2018

17 December 2018

Vela Technologies plc

("Vela" or the "Company")

Update re AirPortr

The Board of Vela (AIM: VELA), the investing company focused on early stage and pre-IPO disruptive technology investments, would like to update investors following the publication of press releases by two international airline groups, in relation to AirPortr's home baggage check-in service. These press releases relate to the extension of AirPort's existing relationship with easyJet, and Cathay Pacific entering into an agreement to offer the AirPortr service to their customers. AirPortr already provides its digital platform to British Airways, American Airlines and Finnair.

Vela has an interest in 162,736 shares in Portr Limited, the owner of AirPortr, equivalent to approximately 3.1 per cent. of Portr Limited's issued share capital.

Extracts from the press releases are copied below:

easyJet

"Following a successful launch with AirPortr at London Gatwick Airport this summer, easyJet, Europe's leading airline, is now making home baggage check-in available to customers flying from London Luton, in time for the busy festive period and coming ski season.

easyJet passengers travelling on flights departing Luton from 5th December will now have the opportunity to skip bag drop queues and head straight to security, having up to four items of luggage collected from their front door for as little as GBP40. Since its initial roll out in July 2018, 86% of easyJet's customers using AirPortr have rated the service as great value for money.

AirPortr picks up luggage from the passenger's doorstep, and safely delivers it to easyJet's bag drop before it is flown to one of the airline's 76 destinations from Luton. Customers can then collect their baggage at their destination's baggage reclaim.

Since 2016, AirPortr has delivered over 80,000 bags, skis and bikes to more than 320 destination airport baggage reclaims around the world.

A short video showing how passengers travel to the airport before and after AirPortr can be viewed here: https://www.youtube.com/watch?v=eD7pzGg9H9Y "

The full press release by easyJet is available here: https://www.businesstraveller.com/business-travel/2018/12/10/airportr-extends-easyjet-partnership-to-luton-airport/

Cathay Pacific

"Cathay Pacific customers travelling from London can now benefit from a new partnership between the airline and bag pick-up and check-in service specialist, AirPortr.

Providing a more relaxed start to the journey, the new service means that Cathay Pacific customers can travel to the airport hands free, avoid the queues and head straight to security. Passengers simply collect their belongings at the baggage reclaim area at their end destination.

The fully integrated service is being introduced this month, so passengers departing from either London Heathrow or London Gatwick can ease into the start of their journey without the stress of transporting heavy bags on the way to the airport.

Once booked, customers are greeted by professional AirPortr drivers who collect their baggage from any location within the London service area, from 48 hours up to seven hours before the flight's scheduled departure time. The luggage travels on the same flight as passengers, who are kept up-to-date on their bags' whereabouts at every step of the way."

The full press release by Cathay Pacific is available here: https://www.businesstraveller.com/business-travel/2018/12/13/cathay-pacific-partners-with-airportr-at-gatwick-and-heathrow/

Antony Laiker, Executive Director of Vela, commented:

"The airline industry, whilst at the forefront of technological innovation, is only now starting to recognise that innovation can also be brought to the customer experience of airline travel. AirPortr's previous experience, now supported by easyJet customers over the last few months, indicates that there is a strong demand and a high level of repeat customers for this service. We look forward to seeing how this progresses further in 2019.

On a more general note, some investors may already be aware of Vela's activity with social media where we have recently noted a marked increase in followers. Investors are able to follow Vela Technologies on Facebook, Twitter, Instagram and LinkedIn (see links below). In doing so, investors can be more exposed to what is happening with our investee companies. We post a range of information which does not warrant or require a Regulatory News Services release but is already in the public domain and adds to investors understanding of the investee companies."

Facebook - https://www.facebook.com/velatechplc

Twitter - https://twitter.com/vela_tech

Instagram - https://www.instagram.com/velatechplc/

LinkedIn - https://www.linkedin.com/company/vela-technologies/

For further information, please contact:

 
 Vela Technologies plc              Tel: [phone] 
 Brent Fitzpatrick, Non-Executive 
  Chairman 
  Antony Laiker, Director 
 
 Allenby Capital Limited            Tel: [phone] 
  (Nominated Adviser) 
 Nick Athanas/Asha Chotai 
 
 Smaller Company Capital Limited    Tel: [phone] 
  (Broker) 
 Rupert Williams/Jeremy Woodgate 
 

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December 17, 2018 07:18 ET (12:18 GMT)