Veritas Securities report includes the completion and commissioning of the Penrith facility, the appointment of David Murray to the board and the announcement of the Gold Coast site.

Read the new report here.

Written by Anthony Klan

There were about 35 modern indoor skydive facilities globally, that number rapidly increasing in line with the popularity of extreme sports, and Australia had nothing to offer.

“In the US they (wind tunnels) were being used first-hand by the military and our defence forces were using them in different countries as a training tool,” Hogan says.

He discussed it with Jones — the pair had long been friends, both having served in the same squadrons “in every major conflict Australia has been involved in recent years” — and Indoor Skydive Australia was born, floating in January last year, after raising $12 million.

The group, which operates under iFLY branding associated with similar facilities in the US, will open its first centre, iFLY Downunder, in Penrith, western Sydney, next month.

The company plans to “rapidly” expand the model, opening centres on the Gold Coast, Melbourne, Adelaide and Perth.

Hogan says a key component has been engaging Australia’s aviation skydiving industry, which the pair see as working in concert with the indoor centres, providing specialist ground training and opening up the industry to a far wider audience.

“There are some quite significant synergies between the two industries, some people may see them as competitive but they are nothing but complimentary,” Hogan says. “We are holding sessions with some of the largest drop zone operators, which will work with our expansion.”

And so far — from a market perspective — their calls have been spot-on.

The company was the top performing float last year, ­according to Deloitte, with the 60 million shares it issued at 20c in January rocketing to 55c by Dec­ember — a 175 per cent increase. (It was followed by Freelancer, up 156 per cent, and Brisbane-based phosphate explorer Fertoz, up 130 per cent).

This week the shares were trading at 80c, up fourfold on the listing price. “Investors, and those who have been with us from the beginning, are starting to see what we are doing and delivering on our original message,” Hogan says.

The “flight chamber” is 13 metres high, five metres in diameter and allows up to eight experienced people to fly at one time.

It is powered by four 450hp fans in the ceiling of the chamber, which draws the air up, creating lift for the user.

Hogan says the air is then recirculated, entering the tunnel again from the bottom — from below a net — having passed through two 600 kilowatt chilling units that control air temperature.

While the facility is open to anyone — beginners to experts aged “three to 103” — it is the most advanced flight chamber available and can meet the ­demands of the most advanced skydivers.

“The winds can exceed 250km an hour, which is where the skydiving market is going,” Hogan says.

He says the high speed is required to enable VFS, or vertical formation skydiving, which involves the skydiver flying head or feet down and so providing less surface area and overall lift at a given air speed. “Gone are the old belly down skydivers. Vertical formation is what it’s about at the moment,” he says.

But for Aviation ­— this journalist tested the facility this week — it was all about the belly-down action. (I tell myself it’s retro.) Frazer Smith, an internat­ional skydiving champion brought to Australia from Britain especially to train users at the facility, says it’s belly-first only for first-timers. I have precisely no problem with this.

After flailing around for a few minutes like a sea cucumber at the bottom of giant fish tank, I’m taking off and it feels exactly like that recurring dream you have where you can fly.

It feels exactly like floating; which, to be fair, is precisely what it is.

And another bonus is, it’s a great workout.

(I know this because one; Smith tells us before we start, and two, I wake up the next day feeling like I’ve been trying to tow a truck. But unlike any workout I’ve ever experienced I’d spent the entire time grinning like a manic chipmunk in a Nobby’s Nuts factory.)

David O’Hare, a friend I’ve dragged along to check out the facility, on account of his previous experience with skydiving — and because he tells me he’s been checking the progress of the facility online for months — finishes his dive similarly buzzed.

He wraps up the experience perfectly, smiling and shaking his head.

“This is awesome. Damn I’m going to spend a fortune!”

 See the video and original article here

Ever wanted to jump out of a plane, but just hate the thought of actually JUMPING OUT OF A PLANE?! Then iFLY Downunder is the answer…and it is addictive!

With the doors opening to the general public on the 26th April, Australia’s first indoor skydiving facility is already proving to be a huge success with over 500 hours of tunnel time sold in the last few months!

“We knew that indoor skydiving would be a popular attraction in Australia’ comments iFLY Downunder Chief Marketing Officer Brett Sheridan ‘but we are still absolutely overwhelmed with the support we are getting from the public.”

The iFLY Downunder indoor skydiving facility is a state of the art centre that delivers an exhilarating, thrilling and high energy experience that the whole family will want to share.

Indoor skydiving is a safe and fun adventure activity which anyone from ages 3 to 103 can enjoy.

“Our facility will allow people to get a real experience of skydiving in a fully-controlled and safe environment”, comments Brett Sheridan.

“This is the biggest and most powerful vertical wind tunnel in the southern hemisphere and we can’t wait to open our doors so everyone who has ever dreamt of flying, can now fly!”

IFLY Downunders’ parent company, Indoor Skydive Australia Group Limited (ASX:IDZ) is headed up by Ex SAS Soldiers Wayne Jones and Danny Hogan. The two hatched the idea to build the facility after experiencing similar facilities around the world.

“While we were serving and training overseas we were exposed to these indoor skydiving facilities as part of our training”, said Wayne Jones.

“The simulation is so close to the real thing that military and skydivers have been training in these facilities around the world for a number of years…and now Australia can experience flight for the first time!”

“It has been a huge journey from those initial discussions to our doors opening in a few weeks time, but the reward will be on the faces of people flying for their first time”, comments Wayne.

The facility, located in the adventure capital of Penrith, has a 5 metre wide glass flight chamber which is one of the largest and most technically advanced in the world.

The facility can comfortably hold up to 8 experienced flyers and is powered by 4 x 450 horse power fans that can achieve speeds of up to 250km per hour which is powerful enough to lift anyone into flight on a cushion of air.

iFLY Downunder is suitable for people of all skill levels, from first timers to advanced flyers.

Bookings are open now for flights available from the 26th April 2014.

View the original article.

Excitement is building towards the grand opening of the facility next month with all involved gathered to witness the first human flight.

IFLY Downunders’ parent company, Indoor Skydive Australia Group Limited is headed up by Ex SAS Soldiers Wayne Jones and Daniel Hogan.

Chief operating officer Daniel Hogan said it all started with a one-liner back in 2007.

“It was during the 50th anniversary of the SAS regiment – that’s where we both served, and from about 2009 that’s when we really solidified the idea and came up with the plan,” Mr Hogan said.

Chief executive officer Wayne Jones said they have used similar facilities for military training overseas and they wanted to bring the same opportunity to Australia.

“Penrith is the adventure capital of NSW, of western Sydney, it’s a growing area and there’s huge opportunities here,” Mr Jones said.

“There are so many activities to do between the Blue Mountains, the Regatta Centre, Wet ‘n’ Wild and the Wake Park just behind us.

The experience is already proving to be a huge success with over 500 hours of tunnel time sold in the last few months.

“The response has been overwhelming. We can’t wait to fly the whole of Australia because that’s who can use the facility: anyone from three years old to 103 years old, boys and girls, birthday parties and corporate events,” Mr Hogan said.

“The overall one-hour experience includes training, fit out of equipment, and then you fly twice – each flight is just under a minute which is the equivalent of a flight from 14000ft,” Mr Jones added.

After the first flight both men were clearly relieved and excited for others to experience the feeling of flight.

“It was beyond expectations, that was absolutely fantastic. You hear the statement ‘a dream come true’ and you never really look at it like that, but when you get to feel it, well now I know the comment,” Mr Hogan said.

Watch the video here.

Indoor Skydive Australia Group Limited (ASX:IDZ) says it is on track to deliver Australia’s first indoor skydiving facility at Penrith in New South Wales.

The skydiving and adventure sports-focussed company advises the commissioning process of the vertical wind tunnel has now started.

Following commissioning the company will begin fitting out surrounding areas of the tunnel such as training, spectator and customer service areas.

As Indoor Skydive Australia Group continues to build its training crew the company has flagged for operations start by the end of the month.

The Sydney-based company listed on the ASX in 2011 and has plans to construct similar facilities in Melbourne and Queensland’s Gold Coast.

Indoor Skydive Australia Group reported a net loss of $1.2 million in the first half of its 2014 financial year.

View the original article and video below: