February 13, 2024
Ankeny, Iowa-based light jet operator Exec 1 Aviation has revamped its jet card program focusing on wholesale customers amid surging demand.
The result of the changes means it eliminated fixed rates on midsize, super-midsize, and large-cabin aircraft, which were always off-fleet.
The Part 135 floating fleet operator has six Hawker 400XPs and one Hawker 400A. All have been refurbished and have had exterior repaints in the past 24 months, says CEO J.R. Boesen.
The light jet program has now gone from guaranteed availability to as available as it moves to meet the demand of its wholesale broker customers. The previous non-peak call-out was 48 hours for guaranteed availablity.
At the same time, it has reduced its FET-inclusive hourly rate to $5,000 per hour from $5,800. That reflects target customers who book 30 to 60 days in advance.
Boessen says it still sources aircraft for customers when it can’t fly them via other operators, based on dynamic pricing.
Plans call for possibly adding another Hawker 400XP next year. This year Boessen expects Exec 1 to clock around 5,000 flight hours. That could see it break into our list of top 30 private jet operators.
It’s the latest move from jet card providers.
The big news was NetJets suspending all jet card sales on Monday. However, there has been a drip of changes. Both Air Partner and Fly Exclusive increased lead time for non-peak bookings. Velocity Jets, a boutique broker, suspended jet card sales in early July.
In July, Florida-based boutique broker Velocity Jets suspended jet card sales. CEO and owner Patrick Harris says the company is continuing to keep its program on hiatus.
“We’re still going to hold off. It’s a volatile market. We’ll see what happens this Fall. I have a core group of jet card clients who have been with me for an average of 10 years. Right now, that’s my focus,” he tells Private Jet Comparisons.
New York-based Jets.com announced this morning it is suspending jet card sales as of Sept. 1.
Record demand and supply chain kinks have made for a challenging operating environment with increased delays.
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