As of June 1, Magellan Jets is rolling out new pricing for its pay-as-you-go memberships, and some prices are coming down
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.
Magellan Jets Pay-As-You-Go Membership Pricing
|Hourly Rates |
as of July 1
|Change in |
|Change in |
|Premium ($14,500 per year)|
|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)|
|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.
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.