In case you don’t read emails from your jet card company, here is our recap changes programs have been making in recent months
As private jet flying has reached record levels, capacity is being stretched. Providers are trying to line up more capacity. However, jet card rates, which in the past hadn’t changed for years at a time, have been on the rise. The midyear timing speaks to what’s happening in the market.
Fixed-rate jet cards are a contract to buy private jet flights at a set or capped price. But when the costs to source those flights increases, providers need to make changes. In a nutshell, that’s what’s happening, particularly for flights booked in the last 24 to 72 hours.
Out of the 61 North American programs in our database:
- 35 made changes since the beginning of June
- 23 of 51 with fixed/capped rates increased hourly rates
- 7 increased daily minimums, a de facto rate increase for short legs
- 7 changed program structure
- 7 increased leadtime for bookings
- 8 temporarily suspended jet card sales
- 5 eliminated or reduced long-flight discounts
- 5 added surcharges
- 5 launched additional programs
- 4 increased number of peak days
- 2 implemented blackout days
Jet card changes
These are the jet card changes we’ve seen over the past several months and are part of our comparisons available to paid subscribers. We’ve just posted our 100th update of the year!
- AeroVanti – Separated from Brazos Valley Air Charter, which was providing lift
- Air Partner – Implemented 30 + blackout dates for jet card fixed rates during Thanksgiving and New Year’s holiday period
- Airstream Jets – Increased prices; Increased call-out; Increased daily minimums
- Ajax Jets – Increased prices
- Alliance Aviation – Increased prices
- Amalfi Jets – Increased prices
- Concord Private Jet – Increased prices; Increased daily minimums; Implemented Caribbean surcharge
- Dreamline Aviation – Increased prices; Changed service area for target customers
- Elite Jets Charters – Announcing changes in October
- Executive Jet Management – Temporarily uspended sales of Ascened membership program; Continues to sell on-demand charter
- Exec 1 Aviation – Eliminated guaranteed availability; Reduced light jet hourly rates; Eliminated midsize, super midsize and large cabin fixed rates
- Flexjet – Increased rates, stopped new jet card sales
- FlyExclusive – Revamped program – elminated daily minimums, expanded service area, added shorter call-outs at surcharges, added peak and high-demand days, added daily access fee and monthly membership fee. However, lowered hourly rates.
- FXAIR – Eliminated transcon rate cap
- International Jet – Eliminated fixed rates – only dynamic pricing
- Jet Aviation Flight Services, Inc. – Reinstated fuel surcharges
- Jet Edge – Increased prices; Refined fixed-rate service area
- Jet Linx Aviation – Raised daily minimums; Increased prices; Reduced long-flight discounts; Expanded peak day depature window; Oct. 1 temporarily halted new jet card sales – waitlist only.
- Jet the World – Increased lead-time for bookings
- JetSet Group – Implemented Caribbean surcharge
- Jets.com – Bought Part 135 operator to add inventory for customers; Temporarily supended sales of new jet card memberships. At the end of September relaunched jet card with rate increases, more peak days, and longer call-outs, but lower daily minimums. Also launched a 15-hour card and $250,000 program without interchange charges to upgrade or downgrade.
- Magellan Jets – Increased rates on the Phenom 300; Increased membership pricing and joining fees, extended leadtime and implement peak day surcharges for memberships
- NetJets / Marquis Jet – Temporarily suspended sales of jet cards while creating waitlist at current pricing
- Nicholas Air – Increased prices; Increased peak days; Eliminated Pilatus PC-12 jet card program
- ONEFlight International – Increased call-out; Increased prices; Reduced specific aircraft guarantees
- Outlier Jets – Raised rates; Increased call-out; Increased daily minimums, Switched entry-level price program to request basis
- Private Jet Service Group (PJS Group) – Increased light jet rates; Added ultra-long-haul-range private jet fixed rate program
- Priester Aviation – Increased rates; Implemented temporary pause on new members Oct. 1.
- Prive Jets – Increased rates
- Sentient Jet – Increased rates, Increased call-out; Eliminated transcon rate caps; On Oct. 1 implemented a 90-day pause on new customers.
- Silverhawk Aviation – Increased rates; Added guaranteed availability
- Solairus Aviation – Increased rates
- Star Jets International LLC – Incresed rates; Increased call-out
- Vault Aviation – Increased rates
- Velocity Jets – Temporarily suspended new jet card sales
- Wheels Up – Added long-flight rate caps earlier this year
- XO – Increased hourly rates; Increased daily minimums; Reduced price caps on super mids; Added Citation Excel fleet.
What’s next for jet cards?
Our expectation is so long as demand stays at record levels, there will be more changes. The good news is unless stated in your contract, most jet cards provide a rate lock for at least six to18 months, and in some cases is negotiable.
On the other hand, informally, we continue to see a spike in dynamic pricing – a reflection of the current market, particularly on short notice, which is a reason you will continue to see card providers extend booking deadlines.