Charles Alcock is managing editor of the AIN Media Group, having rejoined the company in 2019. He has been an aviation journalist since 1986, and previously worked for AIN from 1990 to 2017, most recently as editor-in-chief. His main focus is on covering new aviation technology and business models, as well as international news.
Having been raised in the London area, Alcock studied at the University of Manchester in the UK and earned an honors degree in Politics and Modern History. He speaks English and French, and some German.

Managing Editor

Bombardier manufactures a variety of business aircraft models, provides engineering, and aircraft maintenance services.

Charles Alcock

Aircraft management and charter group AirX is stepping up efforts to raise further capital to fund ambitious plans to expand its fleet. The Malta-based company said on Monday that it will soon close the second stage of a Series A funding round expected to raise an initial $30 million, and is now seeking to raise an additional amount of debt-based funding of between $100 million and $200 million.
According to AirX founder and chairman John Matthews, the new capital will be deployed in quarterly tranches of around $30 million to fund the addition of at least 40 large business jets to the fleet through the end of 2026. The company operates 17 aircraft, including a mix of seven Bombardier Challenger 850s; three Embraer Legacy 600/650s and five Lineage jets; Airbus ACJ340; and Boeing Business Jet.
Unveiling its new aircraft livery this week, AirX said that it expects to confirm 2024 revenues of €150 million ($156 million) and EBITDA in excess of €30 million. It predicted that in 2025 revenues and EBITDA could grow to €200 million and €42 million, respectively.
Matthews told AIN that while he envisions AirX’s longer-term future as a public company, he is in discussions with numerous prospective private debt partners. He said that the group’s strategy for now is focused on achieving five years of sustained growth as a private company.
“There is a lot of money out there,” he commented. “There are so many listed entities in our sector that struggle to achieve positive EBITDA or net cash. Billions have been spent with limited success, but AirX has demonstrated that even a fraction of that investment can yield extraordinary results.”
<figure role="group" class="caption caption-img">
<img alt="AirX Challenger 850" data-entity-type="file" data-entity-uuid="ab91a8d7-48b6-4b2f-8b4e-d3b166b8550b" src="/sites/default/files/inline-images/AIrX%20Copy%20of%20DSC02009-Enhanced-NR.jpg" width="3000" height="2000" loading="lazy">
<figcaption>AirX’s current fleet of 17 aircraft includes this Bombardier Challenger 850.</figcaption>
</figure>

Matthews formed AirX in 2011 after acquiring the assets of what was then a financially distressed private charter operator. It now holds more than $100 million in mortgages and leases on aircraft and has a maintenance, repair, and overhaul operation at London Stansted Airport.
In 2024, Thomas Flohr, founder of rival charter group VistaJet, started legal action in Malta against Matthews and his company, seeking $422 million in damages over allegations that AirX executives had sought to inflict reputational damage by spreading rumors about VistaJet, which has a fleet of around 350 jets. Matthews has acknowledged the case, which—according to The Wall Street Journal—is based on leaked Whats App messages, but an AirX spokesman said he would not be commenting further on proceedings.

News and issues concerning the aviation charter and fractional-ownership industries and markets, including company announcements, regulations, new developments and labor issues.

AirX Seeks to Raise $200 Million To Fund Charter Aircraft Fleet Growth

Malta-based operator wants to triple fleet size with 40 more jets

After resurrecting failing charter operator AirX in 2011, founder John Matthews is looking to raise up to $200 million to add 40 aircraft by the end of 2026.

AirX Seeks More Funding for Charter Fleet Growth

2024 Corporate Aviation Leadership Summit

Sarah Rose

News and issues concerning general aviation, specifically airplanes and helicopters powered by piston and alternative engines (i.e., non-turbine powered aircraft). Subjects include aircraft, engines, personnel, acquisitions, accidents, safety, security and training.

Company has flown 40,000 people to Lourdes

Smart Aviation Marks 20 Years of Flights

News and issues relating to business, corporate and private aviation, primarily regarding turbine-engine-powered airplanes and helicopters. Subjects include aircraft, engines, maintenance, operations, personnel, acquisitions, accidents, safety, security, and training.

Company is "focused on offering a wide range of travel options"

Northern Jet Expands Charter Fleet with Seven Jets

Artificial intelligence helps customers navigate the charter landscape

Jet.AI Launches AI Assistant for Charter Jet Bookings

New developments at FBOs including regulations and noise issues; legal disputes; openings, acquisitions and mergers.

Hong Kong-based group has established a new headquarters in Dubai

Sino Jet Supports Chinese Business Growth in the Gulf 

Charter operator logged record flight hours over the Thanksgiving holiday weekend

FlyExclusive Hits Historic Highs With Holiday Travel

Peter Shaw-Smith

News and developments about airplanes, helicopters and unmanned air vehicles used in all varieties of operations, including airlines, military, business, commercial, general aviation and private.

In this article

Challenger 850

Vista Jet

More In Charter & Fractional

Smart Aviation Marks 20 Years of Flights

Company has flown 40,000 people to Lourdes

Northern Jet Expands Charter Fleet with Seven Jets

Company is "focused on offering a wide range of travel options"

Jet.AI Launches AI Assistant for Charter Jet Bookings

Artificial intelligence helps customers navigate the charter landscape

Sino Jet Supports Chinese Business Growth in the Gulf

Hong Kong-based group has established a new headquarters in Dubai

FlyExclusive Hits Historic Highs With Holiday Travel

Charter operator logged record flight hours over the Thanksgiving holiday weekend

Jet Luxe Expands Private Charter and Ownership Options

Company says the Middle East is proving to be a rewarding market for its approach

SinoJet, Jetex Make Moves in Middle East

Expansion grows footprint for both companies

Jet.AI Launches Fractional Pre-sales for CJ4 Aircraft

Fractional owners can access fleet flexibility across aircraft

AIN Products

SUBSCRIPTIONS

RESOURCES

ABOUT AIN