A co-founder of OnlyFans is backing an airline startup that wants to rival British Airways.
Tom Stokely, a member of the Essex family that launched the adult subscription site, has sat on the board of Global Airlines, a new carrier that hopes to offer flights from London Gatwick to New York and Los Angeles.
Stokely, his brother Tim and father Guy founded OnlyFans in 2016. The subscription website, known for hosting adult content, has seen massive growth during the pandemic.
Stokelys sold its majority stake to US-based porn baron Leonid Radvinsky for an undisclosed price in 2019. OnlyFans made a profit of £36 million on subscription revenues of £1.7 billion in the year of sales.
During his time at OnlyFans, Tom Stokely served as the platform’s chief operating officer. The money he earned from the site has since allowed Stokely to buy a stake in Global Airlines.
The business was founded three years ago by former banker James Asquith, who broke the Guinness World record as the youngest person to fly to all 196 sovereign countries.
Stokely is also a former banker and first crossed paths with Asquith last year when he joined the advisory board of travel business Holiday Swap.
At the time of his appointment, Holiday Swap, an app that allows homeowners around the world to rent each other’s properties, was hailing Stokely as a “savvy businessman” who had previously worked as chief operations officer for a “big company”. OnlyFans was not mentioned.
Unlike his brother Tim, who flaunts his wealth on social media, Tom has largely kept a low profile.
His role at Global Airlines comes as the start-up prepares to embark on what many see as a daring attempt to rival established airlines. The flights from London to New York will put the airline in direct competition with British Airways and Virgin Atlantic, which dominate the route.
In interviews, Asquith promised to bring back the “golden age” of travel and often recalled memories of seeing his father, a pilot, donning his captain’s uniform before flying.
He vowed to revive the glamor of travel through Global Airlines, promising to “revolutionize commercial flying” and make passengers “feel like a million bucks.”
Details on how it will do this are still thin, but Global Airlines said it will serve passengers Laurent-Perrier champagne on board and offer first-class customers a chauffeured service directly to the airport.
“Over the past 20 years, everyone has done the same thing: race to the bottom in the price race,” he told The Times last year.
“Benefits are being taken away. Now you’re seeing US carriers’ loyalty programs being eliminated. It’s getting worse every year. Because everyone’s drinking the same Kool-Aid.”
Some observers said Asquith’s plans would give life to the transatlantic route. But others question whether Global Airlines will fly passengers at all, given the costs and high regulatory hurdles associated with launch.
Aviation consultant John Strickland says: “There are two sides to this. There is a huge list of challenges and the majority of startups never make it. But having met him, I think if there’s a chance for someone to do it, then there’s that chance.
“He recognizes the challenge, but he strikes me as someone who is very determined and in the process of gathering people around him with the right expertise.”
Dubai-based Asquith has built a fleet of four Airbus A380s, which it claims to have purchased from German investment firm Doric last year.
Global Airlines had hoped to have at least one of these super jumbo jets in operation by spring 2024, flying passengers across the Atlantic just three years after the company’s launch.
But the start-up has since withdrawn that target and is now considering using its planes as a charter service for major events such as the 2026 World Cup in the US.
A spokesman said: “Our intention is to begin charter flights in late 2024, followed by scheduled services from the UK.
“We plan to launch our first round of passenger services within the next 12 months. “However, like many other companies in the aviation industry, we have experienced some delays with our partners and encountered multiple supply chain issues that we continue to work through and find solutions to.”
As for Stokely’s involvement in the project, which now involves about 100 people, there are more questions than answers about what he will be responsible for.
Regardless, Stokely and Asquith face the monumental task of getting Global Airlines back on its feet.
“To me, it’s still the devil’s work to get there,” says Strickland. “When I look back on my career, I thought Emirates and easyJet weren’t going to work. What do I know?”