Currency provider Centtrip to make corporate jet market ‘key priority’ for 2016

Global currency provider Centtrip is to take on the corporate jet market turning its services to the sector to help save a “fortune by offering live rates with no spreads through one central global currency account to manage numerous aircraft” according to co-founder and managing director Tony North.

Internal research from the company has suggested that there are now 594 business aircrafts in the UK – from pistons to business jet airliners. According to the group, the number of aircraft delivered to the UK in 2014 was 28.6% higher than in 2010 and there are around 4,277 business aircraft across Europe, according to Centtrip.

North said that the company would make expansion into the corporate jet market his “key priority” for 2016 by marketing access to its systems for the “live currency market” and real time rates of exchange.

“It is a huge industry with over 39,000 business jet flights into Europe every month”, added North.

“The foreign exchange challenges facing aviation companies in Europe, and owners of private jets, are significant and we believe we will help save them a fortune by offering live rates with no spreads through one central global currency account to manage numerous aircraft.”

He said that the company would expand from its base working with the luxury yachting industry as there are “synergies with this and the corporate jet space”.

North said that the costs incurred by crew members travelling overseas, and fuel and maintenance payments and expenses, could all be managed and mitigated against by the private jet sector.

Centtrip was founded by Tony North, Brian Jamieson and Daniel Butcher in January last year. They previously founded Schneider Foreign Exchange and HiFX, foreign exchange businesses that sold for a combined £350m.