Air Charter Service, which sells jet card programs with both U.S. and European service areas, reports its capped rate jet cards now account for 40% of jet card sales. The capped rate product was launched in August 2018.
In a press release, Tim Rees, ACS’s jet card manager, commented, “It’s easy to see the appeal of the Capped Rate Jet Card scheme. It allows clients to budget for the year by giving them a fixed rate, capped price, but allows them to benefit from market prices at the time of booking which generally saves the customer money.”
He continued, “We have found that clients are generally getting somewhere between 10% and 30% more flying for their money because of the savings that we are achieving using this method, the first of its kind to the market.”
Unlike most fixed-rate jet cards that have a set hourly rate, the capped rate variety provides an hourly maximum. The provider then seeks to add value by sourcing flights below the cap, providing customers savings.
Rees noted, “The growth in popularity of the capped rate program means that over a quarter of all our jet card flights in 2019 have been conducted under capped hourly rate terms, with the main operational regions of flights split equally between the United States and Europe.”
He added, “As a broker, we are not tied to a limited fleet, which allows a larger choice than some programs.”
He continued, “There are so many options when it comes to the aircraft such as size, speed, age, interior styling, and baggage allowance, that the flexibility of the Empyrean account ensures the holder retains the ability to choose specific aircraft and adapt to the ever-evolving aircraft models available for charter.”
ACS has been expanding in the U.S., recently doubling space in its U.S. headquarters.