The NAKAJET model
An operating airline first. A treasury second. Both by design.
NAKAJET's Business Plan describes a phased operating business in which freight and charter revenue fund operations in fiat, and the premium cabin converts ticket sales into Bitcoin treasury contributions.
The operating model
Four moving parts. One compounding machine.
Cargo + Charter
Pays for the operation
Cargo-anchored widebody rotations are planned to cover operating costs before a single cabin seat is sold. In the Business Plan, freight demand — including EU pharmaceutical super-hub traffic — drives the schedule.
VVIP Cabin
Accumulates Bitcoin
An all-business-class cabin is layered on top of the locked freight schedule — recliner-format short-haul on E190, full flat-bed on the planned B777 long-haul product.
Tokenized Capital
Creates capital
The security token issued from NAKAJET AG raises growth capital carrying economic participation, rather than aircraft ownership.
Treasury
Accumulates Bitcoin and supports potential BTC distributions
Cabin revenue is designed to be settled in Bitcoin and routed to the corporate reserve, while cargo and charter cover operating expenditure in fiat.
All operations described are planned. NAKAJET does not currently hold an Air Operator Certificate under NAKAJET OpCo, and no cargo, charter or ACMI contracts are signed. Distributions are contingent on board resolution and are not promised or guaranteed.
Charter demand
VIP and VVIP charter provides contract-anchored demand: sports teams, corporate delegations, concert touring and UHNWI family travel. Identified as a demand segment; no contracts are in place today.
Fleet architecture
Three phases. One compounding asset.
Phase 1 · Validation
E190 under ACMI
Four Embraer E190s operated under ACMI, serving VVIP charter and a scheduled FBO-to-FBO network between dedicated UHNWI airports such as Amsterdam Executive and London Biggin Hill. The stated objective is break-even and proof of product, not margin.
Phase 2 · Flagship
Cargo-anchored B777
Funded in the plan by the $100M Tranche A raise and targeting a 15-aircraft B777 fleet alongside an expanded six-aircraft E190 fleet, entered through ACMI wet-lease and transitioning progressively to own metal as a Luxembourg AOC is issued. Modelled configuration: 120 VVIP seats plus 20T belly cargo.
Phase 3+ · Scale
Global UHNWI network
A global fleet horizon of up to 75 aircraft, with ACMI partners covering non-EU markets while NAKAJET's own AOC covers Europe. The plan treats Phase 3 as a continuous search across aircraft types, corridors and cargo verticals rather than a fixed target.
Premium cabin economics
Cargo sets the floor. The cabin is the alpha.
The Business Plan models the B777 rotation so that freight contracts are secured first and cabin routes engineered on top of the locked cargo schedule. The stated consequence is that the revenue floor is set by cargo rather than by ticket sales, and cabin revenue is incremental margin.
Short-haul E190 sectors use a domestic business-class configuration at 45–48 seats, matched to 1–3 hour European sectors and to the physical requirements of the sports charter use case. Long-haul B777 sectors are modelled as full flat-bed business class fleet-wide.
Scenario figures in the Business Plan (low, base, real and best cases) are financial models only. They are not forecasts, guarantees or results.