Update re Portr Limited

3 October 2019

Vela Technologies plc

("Vela" or the "Company")

Update re Portr Limited - Airportr Partnership with Manchester Airports Group (MAG)

The Board of Vela (AIM: VELA) is pleased to note the press release by Manchester Airports Group plc (MAG), regarding Airportr, the operating business of Portr Limited. On 2 October 2019, MAG announced a landmark partnership with Airportr to introduce a home bag check-in and delivery service for passengers. This represents the first geographical expansion of the Airportr business and will be the first time Airportr has collaborated with an airport operator to create a fully integrated baggage service, which allows passengers to check-in baggage before arriving at the airport.

Vela holds 256,275 shares in Portr Limited ("Portr"), the owner of Airportr, equating to approximately 3.6% Portr's issued share capital.

The Manchester Airports Group Plc (MAG) is the country's largest UK-owned airport operator (Manchester, London Stansted and East Midlands airports) serving around 62 million passengers in total across the group in the past 12 months (source: MAG press release dated 10 July 2019).

MAG will be the first airport operator in the UK to use the Airportr service within its own infrastructure, with baggage processed in a dedicated facility away from the traditional terminal check-in areas. It will also be the first to digitise the service, meaning passengers can book and pay online via Manchester Airport's website. The new system creates a 'win-win' scenario, where the passenger experience is enhanced with a convenient at-home service, whilst also unlocking operational efficiencies for MAG by reducing the amount of baggage processed in the terminal.

The service will be available to passengers travelling with Airportr's partner airlines which include Virgin Atlantic, easyJet, British Airways, American Airlines, Cathay Pacific and Finnair. Passengers travelling on other airlines can also make use of the service by having their bags collected from their homes ready for collection when they arrive at the airport.

Prices range from £20-£36 for one item of luggage, depending on location, with all additional bags costing £7 each. Customers booking within the first month of the service starting, will also get one free FastTrack security pass.

Antony Laiker, Executive Director of Vela, commented: "Airportr set out to disrupt an industry that fundamentally has not changed much since the beginning of commercial air travel over 50 years ago.

For passengers, the Airportr services can greatly enhance the travel experience. Passengers no longer need to be at the airport so early and, as they are no longer carrying baggage, have a choice of how to get to the airport, which is often quicker and cheaper. Once at the airport, passengers can head straight to security and are reunited with their baggage at the carousel of their destination airport.

There are also significant operational benefits to the airlines and airports. Airlines and airports can better plan, distribute and streamline operations with early processing of baggage. They no longer need to wait for passengers to check-in individually, over a short period of time just prior to take off. These benefits are leading to some interesting concepts and case studies which focus on the future design of terminals, landside processing and associated commercial benefits to airports and airlines."

The full press release by MAG can be found here:

https://mediacentre.magairports.com/manchester-airport-introduces-new-home-baggage-collection-service-for-passengers-in-partnership-with-airportr/

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About Vela Technologies 

Vela Technologies (AIM: VELA) is an investing company focused on early stage and pre-IPO long term disruptive technology investments. There are currently 12 investments in the portfolio which either have developed ways of utilising technology or developing technology with a view to disrupting the businesses or sector in which they operate. More recently, Vela Technologies has also started to focus on existing listed companies where valuations may offer additional opportunities. 

About Portr Limited 

Portr is the owner of Airportr, the airline integrated home bag check-in and delivery service that gives passengers the option to check in online and have their baggage collected from their doorstep. Following a positive ID match and airline security validations, which are performed with the customer by a vetted driver utilising Airportr's proprietary technology, baggage is put in a unique coded, tamper proof and trackable security bag, to be delivered to the airport and directly onto the designated departing flight. The passengers can then travel bag free to the airport, avoiding check-in or bag drop, instead going directly through security, collecting their luggage on arrival at their destinations' baggage reclaim.