Dallas, Texas-based on-demand charter broker Vault Aviation is launching a new jet card concept that combines the guarantees of a traditional jet card program with the elements of on-demand charter
Officially launched yesterday, the Vault MAX Jet Card offers fixed hourly rates on light, midsize, super midsize and heavy cabin jets for flights in the continental United States. According to a press release announcing the new program, “When able, Vault will offer MAX Jet Card clients an On Demand rate that is below their fixed hourly rate maximum.” U.K.-based Air Charter Service launched a similar jet card earlier this year where your contracted fixed rate serves as a ceiling.
Vault says, the MAX Jet Card has no blackout dates, no peak season surcharges and is based on 72 hours lead time for reservations. Vault calls this program the MAX Jet Card because the fixed hourly rates are used to calculate the “maximum” amount you’d have to pay for a flight. Vault uses the same process to source aircraft for MAX Jet Card members that it uses to source aircraft for on-demand flights it says. The end result “is almost always being able to provide MAX Jet Card members with a price that is below their fixed rates or a cabin class upgrade for the same price.” If the price happens to be higher, you are protected by your guaranteed rates.
“We think we have found the perfect balance between the guarantees clients are drawn to and the cost savings we can offer,” said Vault Aviation president and co-founder Paul Taskalos. “To Vault, this isn’t a new concept. We have been offering all of our jet card clients these same cost savings for years. This client-first approach was one of the founding principles of Vault Aviation.”
Other benefits include guaranteed mechanical recovery, waiver of aircraft repositioning fees, and a fully refundable account balance that never expires. The basic MAX Jet Card rates (7.5% Federal Excise Tax included) are $4,950 per hour on a light jet (6 passengers guaranteed), $6,560 per hour on a midsize jet including FET (7 pax) , $8,710 per hour on a super-midsize jet with FET (8 pax), and $12,900 per hour on a heavy cabin jet with FET (10 pax). Heavy jet pricing includes a flight attendant and receives a $500 per flight credit while super midsize flights receive a $250 credit, midsize catering credit is $100 and $50 for light jets.
Like Air Charter Service, Vault says it will also create custom MAX Jet Card programs to fit clients’ specific needs, including aircraft year of make, year of refurbishment and amenities. The program has no membership fees.
In terms of its on-demand sourcing, Vault’s website says, “Vault Aviation uses a select group of safety-audited operators who comply with ARGUS and/or Wyvern safety standards. Vault only sources aircraft from FAR Part 135 Charter Operators, and we mandate that they carry a minimum of $50,000,000 in insurance and show no history of damage or irregular maintenance events. From turboprops to heavy jets (and everything in between), all of our aircraft are flown by two highly qualified pilot crews.”
Vault was founded in 2015 by Tsalkos and its CEO Weston Hull, a former charter sales executive at Starbase Aviation after working for a decade in professional sports management.
As we receive more details about possible roundtrip discounts, segment, and daily minimums, CPI escalators, fuel charges, escrow account option and so forth, we will be adding Vault’s MAX Jet Card to the over 40 companies and 250 programs we analyze by 65+ variables. However, from first blush, we like what we see. Stay tuned!