Austria: Schoenherr advises group of sellers of Flightkeys on strategic investment from Insight Partners

The investment comes at an opportune time for Flightkeys, as the company's leading solution powers flight planning at some of the world's largest carriers, with many more currently implementing FLIGHTKEYS 5D. The partnership with Insight will enable Flightkeys to accelerate the company's investments into its strategic roadmap, R&D and customer service. The investment remains subject to regulatory approval and is expected to close in Q4 '24.

"This transaction marks a significant milestone for Flightkeys, reinforcing its position as a leader in aviation technology," said partner Thomas Kulnigg, who led the Schoenherr team. "Partnering with Insight Partners will empower Flightkeys to accelerate its innovation and continue delivering cutting-edge solutions to the industry. We are proud to have advised on a deal that not only advances Flightkeys' strategic growth but also highlights the strength and potential of the Austrian tech sector."

Flightkeys and its subsidiary companies, Spacekeys and Skykeys, develop and market software to optimise flight routes (Trajectory Optimisation) and flight schedules in real time for the aviation industry. The group also designs systems to assess GPS satellite signals and provides a cockpit application to optimise flight trajectories based on costs and emissions. This makes Flightkeys a global leader in incorporating condensation trails into flight planning and execution. Founded in April 2015 and headquartered in Vienna, the company employs 110 experts. Flightkeys is already a market leader in the US, with a client base that includes well-known US and European carriers.

Headquartered in New York City, Insight Partners is a global software investor partnering with high-growth technology, software and internet start-up and ScaleUp companies that are driving transformative change in their industries. The firm has invested in more than 800 companies globally, with more than 55 of its portfolio companies achieving an Initial Public Offering (IPO).

The advising Schoenherr team was led by Thomas Kulnigg (partner) and further included Stephan Rödler (counsel) and Dominik Tyrybon (attorney at law).

Jank Weiler Operenyi Rechtsanwälte (Deloitte Legal) and Grohs Hofer Rechtsanwälte advised other sellers of Flightkeys.

Drake Star acted as financial advisor to the Flightkeys Group.

Willkie Farr & Gallagher and E+H Rechtsanwälte GmbH provided legal advice to Insight Partners.