Flying private is often considered the lifestyle of the rich and famous, but Brisbane startup, Monarc Global has launched an automated booking platform that will transform how the private aircraft industry operates.
The company recently closed a $500,000 seed round led by Brisbane Angels and Angel Loop, with investments from River City Labs Accelerator and Muru-d. The money is aimed at helping international expansion into the US.
While private flights still aren’t close to commercial flights in terms of flights, they can be dramatically cheaper, say on an otherwise empty return flight.
Monarc’s special sauce is their unique software which gives private aircraft operators the ability to automate their quoting processes so that brokers, agents and the public can seamlessly find, book and pay for private aircraft travel in real-time.
Monarc Global’s technology offers the private aviation industry its first equivalent to the commercial Global Distribution Systems (GDS) on which airlines and carriers currently schedule their flights. GDS allows airlines to show live availability and instant pricing variations based on demand up to 18 months ahead of flight times.
Now a team of 13, Monarc Global was founded in 2017 after CEO, Founder and seasoned helicopter pilot Royce Crown was questioning why there was no live booking system for private aircraft.
“The current way for consumers to book a private aircraft is outdated and inefficient. Until now, if you wanted to charter a private aircraft you had to call around different companies requesting quotes, and each would manually work out availability and return a quote to you a day or so later. Then if that aircraft had been booked in that time, you had to start the process again.”
“Our simple booking plugin closes these gaps, it provides a white label solution for aircraft operators and travel businesses, sitting on their websites and allowing prospective passengers to view, compare and book private travel instantly.”Royce Crown, CEO, Founder Monarc Global
The average aircraft operator has a conversion rate of approximately one flight per 15 quotes generated. Monarc Global has the potential to dramatically lift that conversion rate, by replacing excessive broker margins and long wait times with instant pricing, live availability and access to a wider audience.
Australia’s non-scheduled air transport (charter) is valued at $1.2 billion, and is growing yearly by 0.6%, as companies and consumers realise it’s moving from luxury to practicality.
“If a work team are all heading interstate or overseas for a work conference it can make more financial and logistical sense to book a private aircraft.
The public tend to think the cost is unattainable, especially in Australia but with popularity soaring in the US and in Europe we’re set to see private travel trends start to change in Australia, with it becoming more of a financial decision rather than a luxury decision.”Royce Crown, CEO, Founder Monarc Global
Over 350 operators are already registered to use the platform, including Avcair (Brisbane) Global Jet (Gold Coast) and Navair (Sydney). This number is set to soar as Monarc Global expands nationally and to North America in September 2019.
For more information, please visit monarcglobal.com