Vela Technologies

Investors queue up to buy Vela shares after Portr baggage service launch

The new service from Portr, in which Vela has a 3.9% stake, " is a game-changing event for the travel industry".

Heathrow Airport baggage reclaim
The service won't quite eliminate all need for queuing ...

Investment company Vela Technologies PLC (LON:VELA) has received a boost from the launch of a new service by Portr, in which it has a stake.

Aim-listed Vela, which backs early-stage companies that have disruptive technology, flagged up the recent press coverage of Portr Limited, the London-based travel tech start-up, which has, in partnership with British Airways, launched a service that allows passengers to check-in their luggage with the airline from any location in Greater London.

The AirPortr + Bag Check-In service with British Airways allows the passenger to travel completely bag free until they reach the destination baggage reclaim.

The service can be “pre-booked”, i.e. “booked”, online, with passengers able to select a one-hour slot for pick-up, Portr’s press release stated.

Vela has an interest in 101,989 shares in Portr, representing 3.9% of Portr's issued share capital.

Vela’s executive director, Antony Laiker, said: “Brent [Fitzpatrick – Vela’s chairman] and I believe that this new service from Portr, in partnering with British Airways, is a game-changing event for the travel industry and has the potential to change the travel experience for many as they no longer need to check their luggage in at the airport. Arriving at the airport security-ready and heading straight for security will mean travellers should no longer need to arrive at the airport so early and stand in lengthy queues.”

Shares in Vela were up 19.4% at 0.185p at noon.

Quick facts: Vela Technologies

Price: 0.085 GBX

Market: AIM
Market Cap: £1.46 m


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