Stratos Jet Charters, an Orlando, Florida-based private jet charter broker that previously offered a dynamic pricing membership, has launched a fixed-rate jet card.
The move comes as nearly a dozen fixed-rate programs remain on the sidelines.
For major jet card players like NetJets and Sentient Jet, last year’s spike in demand, thin availability, and supply chain issues meant stopping selling. It also created a new normal for private flyers.
However, Stratos Founder and CEO Joel Thomas said the current market led him to launch Soar.
The pay-as-you-go membership has two options. For $8,500, you lock in fixed-hourly rates for six months, and for $14,500, you lock rates for a year.
Since launching earlier this week, he signed nine members, all at the higher level.
The program covers the Continental U.S. and offers Bermuda, the Bahamas, the Caribbean, Mexico, and Canada at a 10% surcharge.
Light jets are $7,450 per hour, including FET. Deicing charges are included. Peak and non-peak call-outs are 72 hours.
The Stratos program has 118 peak and blackout days, including the Sunday before Thanksgiving through the first Monday of 2023.
Starting with a clean slate, the Stratos program reflects increases in peak days and restrictions from other card providers we are seeing.
While the peak days are extensive, there is only a 5% surcharge.
Thomas, however, sees the key benefit of the pay-as-you-go jet card in its cancelation terms of 72 hours peak-and-non-peak.
While smaller broker jet cards have been going to 100% cancel fees after booking for one-ways, Thomas said providing the ability to change or cancel was the principal reason for launching Soar.
Bookings are via its app, portal, or traditional methods such as email or phone.
“We want to make it as easy as possible for the customer,” says Thomas.
Thomas says Stratos’ strong and longtime relationships with key operators enable him to offer generous cancelation terms.
The 17-person shop was founded in 2007.
Thomas says he is already working on enhancements. The new Soar programs are updated in our comparisons available to paid subscribers.