The Japanese start-up airline JCAS Airways, which is planning to launch operations in 2026, raised 300 million yen (approximately 2.2 million dollars) in its first Pre-Series A funding round, the company announced on September 18, 2024.
In the first Pre-Series A funding round, which brought the company’s total raised capital to 450 million yen, the airline received investment from 12 local companies in Toyama Prefecture (e.g., Otaka Construction, Hokuriku Coca-Cola Bottling, and Tachi Construction), a location it plans to serve by one of its first two planned routes, Osaka Kansai – Toyama.
JCAS Airways plans to use the raised funds to cover equipment leasing, system development, and staffing costs among other things.
In the future, the airline plans to do another Pre-Series A funding round, which will focus on raising capital from companies based in the San’in region, in which another one of the airline’s first planned destinations, Yonago (also to be served from Osaka Kansai), is located.
JCAS Airways originally planned to launch flights in 2021 but delayed that plan multiple times. In July 2024, the airline signed a memorandum of understanding with Singapore’s lessor Avation for the lease of one ATR72, a deal that is currently being finalized. The airline plans to grow its fleet to seven aircraft and operate 16 different routes within five years of launch.
