Global luxury private jet operator VistaJet has launched an insurance program. According to a press release, VistaJet Protect removes all cancellation fees up to 48 hours before a scheduled departure. If a client cancels less than 48 hours before departure, VistaJet will use the premium to offset part of the outstanding cancellation fee.
“Over this past year, there has not been a uniform approach to COVID-19 related cancellation policies in the business aviation industry, and we sought to offer our clients a policy that protects them during these uncertain times,” said Chief Commercial Officer Ian Moore.
He added, “With VistaJet Protect, we offer maximum peace of mind and flexibility as we recognize the abrupt nature of a COVID-19 diagnosis.”
The new initiative provides clarity to customers who wish to plan for the future of travel while reducing financial risk. It also mitigates health risks. Should a client need to cancel a flight because they or any of their guests test positive for COVID-19, they send a copy of their PCR test results to activate the policy.
A spokesperson said the cost is a 20% premium on top of the client’s flight charter price.
Under standard charter terms, clients pay a 25% cancellation penalty between booking and up to 7 days before departure. Over 72 hours to 7 days, the normal penalty is 50%. From 48 to 72 hours, it’s 75%. With VistaJet Protect, you pay no cancellation fees until 48 hours before scheduled departure. From 24 to 48 hours, it’s a 75% penalty, less your paid premium. Within 24 hours, you pay the 100% penalty, less the premium.
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