Premier Air Charter (OTC: PREM) Is Gearing Up For Takeoff
- Checkers
- 12 minutes ago
- 3 min read
It’s been just nine months since Premier Air Charter Holdings Inc. (OTC: $PREM) closed its acquisition in March. Since then, the company has pulled off what most OTCs only talk about: generating more than $20 million in revenue, flipping stockholder equity from negative $1.56 million at the end of 2024 to positive $873,331 by the end of Q3, and expanding operations with new aircraft and stronger demand. And the best part is it’s all in the filings, and the numbers speak for themselves.
Q3 was when things really took off. The company reported $7.07 million in revenue, a 76% increase from Q2’s $4.02 million. That surge pushed PREM’s nine-month total past $20 million, giving it a revenue run rate that already exceeds Nasdaq-listed $JTAI, which reported about $14.0 million in revenue for the full year 2024 and is now divesting its aviation assets to focus on AI and related infrastructure, all while PREM still trades on the OTC and maintains the flexibility and efficiency of a focused private charter model. In an aviation landscape where low single-digit growth is often praised, this kind of acceleration distinguishes PREM from its peers.
The underlying catalyst for that growth has been demand across both established and emerging charter corridors. Year-over-year charter volume to Hawaii increased by approximately 25%, while Mexico routes posted a 38% gain over the same period. Broker engagement is expanding, and the company’s existing fleet has been flying more hours, indicating higher utilization and operational momentum. The company has also begun
building out its presence in New York and the broader east coast market, where the combination of corporate demand and private wealth creates one of the deepest charter pools in the country.
Looking ahead, PREM has taken delivery of two Gulfstream G-IV jets, which are now progressing toward charter-ready status. These long-range, large-cabin aircraft are capable of flying nonstop from the West Coast to Hawaii, or from New York to London, unlocking new route capabilities that were previously out of reach. The company has submitted an application for FAA Part 135 certification to operate aircraft configured for ten or more passengers, a milestone that would allow PREM to enter the high-capacity charter space. Once certified, the Gulfstreams will allow the company to compete for larger group bookings, such as corporate roadshows, sports team transportation, and other high-value segments where smaller operators typically can't compete.
While the company has been growing operationally, it has also executed a major cleanup of its balance sheet. Between August and November, approximately $9.35 million in debt and other obligations were converted into Series A Preferred Stock. In October, the company
amended the terms of that class of stock, raising the conversion price from $0.04 to $0.25. This change significantly reduced dilution risk, since the debt holders agreed to take fewer shares at a materially higher valuation. With 280 million shares outstanding and just 25 million held at DTC, the float remains limited and the overhang from legacy liabilities appears to have been skillfully handled.
From both an operational and capital markets perspective, PREM has made considerable progress in a short window of time. With more than $20 million in revenue already booked, the addition of two large-cabin jets, and entry into new charter corridors like New York underway, the foundation is now in place for broader commercial activity. While the market cap sits at around $15 million, well below the current revenue run rate, PREM appears well-positioned to excel as demand continues to flow into the private aviation sector.
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