August 16, 2024
Boston-based jet card broker Magellan Jets is revising hourly rates for its pay-as-you-go memberships, effective June 1. And while the majority of prices are going up, some are decreasing.
Increases range from 0.75% for large-cabin jets to 3.35% for light jets in its Explorer membership. The joining cost is $8,500. Aircraft are manufactured in 2000 or later, and call-out is 25 hours non-peak.
Its Premium membership offers a 12 hours non-peak call-out, guaranteed WiFi on midsize jets and above, and aircraft manufactured in 2007 or later. Joining costs $14,500. Super-midsize rates are increasing 0.93%, and light jets go up 2.79%. However, midsize hourly rates go down 5.26%, while large-cabin jets drop 4.72%.
“The increases and decreases reflect what we pay to our preferred partner network. When our cost goes down, we pass along the savings to our customers,” says Anthony Tivnan, president of Magellan.
| Hourly Rates as of July 1 (in dollars) | Current Hourly Rates (in dollars) | Change in Hourly Rates (in dollars) | Change in Hourly Rates (percent) | |
| Premium ($14,500 per year) | ||||
| Light Jet | 6,200 | 6,032 | 168 | 2.79% |
| Midsize Jet | 7,650 | 8,075 | (425) | -5.26% |
| Super Midsize Jet | 10,500 | 10,403 | 97 | 0.93% |
| Large Cabin Jet | 13,400 | 14,064 | (664) | -4.72% |
| Explorer ($8,500 per year) | ||||
| Light Jet | 5,300 | 5,128 | 172 | 3.35% |
| Midsize Jet | 7,000 | 6,831 | 169 | 2.47% |
| Super Midsize Jet | 8,900 | 8,753 | 147 | 1.68% |
| Large Cabin Jet | 12,300 | 12,209 | 91 | 0.75% |
He says customers are sometimes surprised to see decreases when they are renewing and call to make sure the pricing is correct. It is!
The company also is rebranding its entry-level offer under the Explorer label.
Last month, Magellan revamped its jet card line-up, swapping out the Hawker 400XP for Citation CJ3/CJ4 and the Falcon 2000 for the Challenger 605/604.
An analysis of jet card pricing from Private Jet Card Comparisons’ database of more than 50 North American providers shows jet card hourly rates increased 5.8% to 8.7% from December 2020 through May. However, compared to December 2019, rates are down in all categories, except light jets and turboprops, which are still up less than 1%.
Earlier this month, NetJets said it is raising jet card rates 2% to 8% in July.
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