Alyssum Holdings files for administration: Fly Victor and RocketRoute for sale

Alasdair Whyte
By Alasdair Whyte February 14, 2020 18:24

Alyssum Holdings files for administration: Fly Victor and RocketRoute for sale

Alyssum Holdings, the parent company of online charter platform Fly Victor and flight planning service RocketRoute, has filed for administration. Fly Victor and RocketRoute are now for sale.

Named after the world’s fastest spreading flowers, Alyssum was created in 2018 when Victor obtained financing from BP Ventures, BBA Aviation and others. It then acquired RocketRoute from BP.

“Following an independent path will ensure we can focus on our core mission and with a new ownership structure that will rest more comfortably with our position on the environment and aviation emissions, I believe this will be better for the business aviation industry, consumers and how we tackle climate change.”

In a statement the company said: “The board of Alyssum Group have placed our Holding Company into Administration to ensure both RocketRoute and Victor which are both fully trading going concerns are able to pursue separate paths and seek a new investment through a sales process managed by Hilco and administered by David Rubin & Partners.”

Fly Victor was launched in 2010 by Clive Jackson, a tech entrepreneur, when an airline cancelled routes to a Spanish island where he had a second home – it was his 15th start-up. Jackson originally started with the idea of offering flight sharing before focusing on all online charter. In 2019 Victor announced it was carbon offsetting the emissions of all flights that booked by 200%. The company also launched Alto an innovative frequent-flier points programme in 2018.

Victor had sales of $6.5m in 2019 according to an email from Hilco Streambank, the company that has been appointed to sell Fly Victor and RocketRoute.

RocketRoute was also launched in 2010 as an online platform giving pilots information and flight plan management. Hilco documents seen by Corporate Jet Investor say that RocketRoute had sales of approximately £1.4m ($1.8m) in 2019. The deadline for first round offers for both companies is February 28.

“The industry has a leaning towards creating a drama, but frankly, its business as usual for RocketRoute and Victor. Both companies are going concerns and are having a great start to 2020,” said Jackson, founder and CEO of Alyssum. “Following an independent path will ensure we can focus on our core mission and with a new ownership structure that will rest more comfortably with our position on the environment and aviation emissions, I believe this will be better for the business aviation industry, consumers and how we tackle climate change.”

Alasdair Whyte
By Alasdair Whyte February 14, 2020 18:24

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