February 21, 2024
JetSmarter which earlier this year moved to a pricing model that entails paying for both seats on private jet shuttles and empty leg flights tomorrow is expected to announce it will start selling seats on its scheduled, shared private jet flights to non-members. In an exclusive interview with Private Jet Card Comparisons, CEO and founder Sergey Petrossov says the move is meant to grow sales at an even faster clip. He says the company revenues will end 2018 in the $300 million range. It launched in 2013. The latest news follows our exclusive report on May 10 about JetSmarter’s new membership pricing structure.
Here are the key updates:
– Non-members can now book shuttle flights, something previously reserved only for joiners who paid at least $4,950 for an annual membership, plus a $3,000 initiation fee.
– Starters, folks who want to schedule an on-demand shared private jet charter flight at a specific time, can now do so without becoming a member.
– The price for non-members who buy seats or start shared charter flights will be higher than members, encouraging them to become members after trying out the JetSmarter offerings.
– Members will retain exclusive benefits from partners such as The Private Suite, Hertz, SBE Hotels, STK restaurants get invites to special events. They will also get first dibs on pop-up flights to big events like the Super Bowl or with celebrities.
– Member and non-member starters will now be able to sell seats they don’t want to their own networks of contacts who aren’t members further reducing their costs for flights.
– JetSmarter will continue to allow current members to renew memberships under the terms they purchased them, at least for the time being. The company still has members who get free seats on flights under three hours, although VIP shuttles are excluded.
– Non-member pricing for both buying seats and starting charter flights will vary by market, with lower differentials in markets that JetSmarter is trying to develop.
– JetSmarter is planning to launch a jet card program, although it is thought to be based on dynamic pricing and won’t likely have guaranteed availability. While jet cards traditionally offered both fixed one-way rates and guaranteed availability, there are now a variety of jet card membership programs that essentially are somewhere between block charter and the traditional jet card.
– JetSmarter expects to have at least 15 company branded Gulfstream GIV jets that will be operated by Jet Edge on lease from owners by year’s end. By the end of June, five will be in service. The aircraft are thought to have come from NetJets fleet of fractional aircraft. The planes will be upgraded with 4G high-speed WiFi.
Read an in-depth look at JetSmarter’s new approach at Forbes.com.
