DALLAS & MONTREAL–(BUSINESS WIRE)–Jaunt Air Mobility (“Jaunt”) announced that Calin Rovinescu, recently retired President and CEO of Air Canada, and Mitch Garber, a global technology and growth capital investor have added their names as as investors and advisors to Jaunt Air Mobility.
“We are extremely pleased to have someone with Calin’s extraordinary business and aviation experience supporting Jaunt Air Mobility,” said Martin Peryea, CEO of Jaunt. “His vision and comprehensive understanding of aerospace, aviation and financial markets should help us accelerate our evolution as a leading eVTOL (electric vertical take-off and landing) company.”
“In addition, it is extremely exciting to have a very successful technology and growth capital investor like Mitch Garber join us,” commented Eric Cote, President of Jaunt Canada. “Mitch’s business acumen, experience with emerging companies and knowledge of tomorrow’s technologies will add enormous value to the future success of the Jaunt Journey.”
Calin Rovinescu served as President and CEO of Air Canada from 2009 to 2021. Skytrax recognized Air Canada as the Best Airline in North America in eight of the 10 years under Calin’s leadership and as the only carrier four-star network in North America. While at Air Canada, Rovinescu also served as Chairman of the Board of Directors of Star Alliance, the supervisory body of Star Alliance, the world’s largest airline alliance, and Chairman of the Board of Governors of the Transportation Association. international airline. He was previously co-founder of Genuity Capital Markets, an independent investment bank which is now part of Canaccord Genuity Group Inc. and previously the managing partner of Stikeman Elliott, a leading Canadian law firm. In 2021, he was inducted into the Canadian Business Hall of Fame.
“I was impressed both by Jaunt’s innovative yet practical aircraft design, combining helicopter and fixed-wing flight capabilities, and by the entrepreneurial spirit of the team and his understanding of what is needed for certification, commercialization and market penetration in this new emerging eVTOL industry” says Calin Rovinescu. “I am particularly pleased with the company’s plan to include Quebec and Canada in the design and manufacture of these aircraft involving new battery technology, digital capability and state-of-the-art engineering. Jaunt will be a catalyst for quality jobs in the green economy and will continue to grow. Canada as an innovative and transformative global aerospace player,” Mr. Rovinescu concluded.
Mitch Garber has recently made several early-stage investments in what have become innovative unicorns and deca-corns such as Playtika, Snowflake, Datadog, Pipe.com and Relativity Space. Mitch has managed companies listed on the Toronto, London and Nasdaq stock exchanges. He is a frequent co-investor and board member of large private equity transactions alongside Apollo Global Management and TPG. He is also a minority owner and member of the executive committee of the NHL Seattle Kraken and president of Invest in Canada.
Garber explains, “Cloud computing, rocket/space, and mobile gaming are examples of high-growth areas where we’ve been fortunate enough to support good players. eVTOL air taxis are a hyper-growth area. next-gen technology, and my wife and I have a portion of our investment portfolio focused on ESG and supporting Quebec/Canadian companies.Quebec-based Jaunt Canada caught our eye with its new form of technology d green and clean aviation. This is an opportunity to build a transportation system that changes the way we move and facilitates a more efficient and greener global economy. It leverages the unique assets of Canadians and our aerospace heritage, and Jaunt’s experienced team demonstrates a deep understanding of the business and the future.
Jaunt Air Mobility is a transformative aerospace company headquartered in Dallas, TX with design and manufacturing located in Montreal, Canada. Jaunt is building the next generation of eVTOL (electric vertical take-off and landing) and electric hybrid VTOL aircraft for faster, quieter and safer travel in urban areas, moving people and packages. Jaunt is the world leader in the development of Slowed-Rotor Compound (SRC) technology. The Jaunt Journey is the world’s first electric aircraft combining helicopter and fixed-wing aircraft flight capabilities. Jaunt has partnered with Tier 1 aviation partners to develop the Journey and is working with global operators to deliver this new form of travel. Jaunt offers the most operationally efficient aircraft with a zero carbon footprint. For more information, visit www.jauntairmobility.com.
About the AIRO Group
March 10and, 2022, Jaunt became a wholly owned subsidiary of AIRO Group Holdings, Inc. (the AIRO Group). The AIRO Group will bring together decades of cutting-edge technology with its group companies to provide best-in-class products and services capable of serving a wide range of aerospace markets. The AIRO Group operates technologies that span data systems, resupply package delivery, military aerospace training, manned/unmanned military and commercial aircraft systems, and avionics technologies. The company can be found at https://theairogroup.com/.