AirX Charter (AX, Malta International) has raised EUR115 million euros (USD136 million) through a secured bond on Nordic documentation, managed by Norway-based investment bank Arctic Securities. The funds will finance the addition of over 30 aircraft to the company's fleet.

"We're expecting to grow the total European fleet to 50 aircraft over the next three to five years, acquiring aircraft in the heavy jet and VIP airliner categories," Jack Roberts, head of marketing at AirX, told ch-aviation.

AirX's current fleet comprises 19 aircraft, including eight Challenger 850s, four Legacy 600s, five Lineage 1000s, a B737-700(BBJ), and an A340-300 with a 100-seat cabin.

According to AirX, the issue was "significantly oversubscribed," with the asset-backed bonds registered in both Frankfurt and the Nordics. This follows a Series A funding round in late 2024 that raised roughly USD35 million, which financed the acquisition of four aircraft. At the time, chief executive John Matthews told ch-aviation that a larger Series B round was planned to fund an additional 20 aircraft.