American investment fund Abry Partners has acquired shares in AirHelp, a platform that assists air passengers with compensation claims.
The acquisition involved minority shares from existing shareholders, with AirHelp aiming to strengthen its presence in the US market and explore new revenue opportunities.
Established in 2013, AirHelp assists with compensation negotiations in cases of significant flight delays, cancellations, or denied boarding, and advocates for the legal and political rights of air travelers worldwide. Investors include Nordic Eye, Khosla Ventures, TempoCap, and angel investors.
In Europe, passengers are legally entitled to compensation of up to 600 euros for flight cancellations or significant delays caused by airlines. The amount varies based on flight distance and delay duration.
