Avinode was founded within CSE in January 2001, by entrepreneurs with backgrounds from Volvo Aero, Amadeus and Chalmers. The company currently employs 26 people, a number which is steadily increasing and will reach 30 by the end of 2008.
In 2006 Avinode opened a sales office in Miami to establish the business in the US; the leading business aviation market in the world, and roughly five times bigger than the European market. 2007 was a breakthrough year for Avinode in the US with some of the biggest companies in the country choosing to work with Avinode exclusively. Due to this the system reached the content level needed to provide a good domestic service. Sales records were broken all year, and new markets, such as Asia and South America emerged.
Avinode’s business model is based on subscription fees for all users. Companies interested in searching the database, are charged monthly, and operators wanting to market an aircraft are charged a monthly fee that is based on the number of aircrafts. Avinode’s revenue has grown approximately 50% each year and the company has been cash flow positive since 2003 and profitable since 2005.
Avinode’s focus for 2008 is to solidify its industry leader position by further diversifying the product portfolio, and to keep driving evolvement in the industry. The continuous goal of providing a high quality service will drive development, and the need to form additional strategic partnerships.
