November 20, 2024
2020 start-up private jet booking app JetASAP has been acquired by 2021 management and charter operator start-up FlyHouse.
JetASAP, an app that allows consumers to request quotes directly from private jet charter operators, has been acquired by FlyHouse.
Executives say the deal is a combination of cash and stock.
FlyHouse was founded as a Scottsdale, Arizona-based private jet management company and charter operator in 2021.
However, its CEO, Jack Lambert, tells Private Jet Card Comparisons that the JetASAP deal is not related to its management arm but is part of a technology play currently in a soft-launch mode.
“It’s Uber meets ETrade. We’re taking lead generation and combining it with a booking platform and client experience,” he says.
According to the announcement:
‘With FlyHouse’s solid foundation in customer relations, the acquisition is set to accelerate growth and provide a seamless booking experience for clients through the app. By utilizing advanced technology, FlyHouse aims to elevate the overall customer journey and simplify the booking process. The synergy between FlyHouse and JetASAP will deliver a more intuitive and efficient system, expand the network of private jet operators, and introduce innovative features that will redefine the private jet charter industry. Additionally, there is a strong commitment to offering transparent pricing, real-time availability, and streamlined booking procedures.’
-FlyHouse announcement
“Acquiring JetASAP is a monumental step forward for FlyHouse. This integration not only enhances our service offerings but also aligns perfectly with our mission to transform the aviation industry,” says Lambert, Jr.
He adds, “This acquisition is a game-changer, and we are eager to integrate their platform with our upcoming app, setting new standards in private jet travel. Our goal is to make private jet travel more accessible, transparent, and efficient for our customers.”
According to the press release, “As FlyHouse prepares for the takeoff of its groundbreaking app, the integration of JetASAP’s cutting-edge platform with FlyHouse’s innovative approach will provide users with unparalleled access to private jet charters, ensuring a smooth and hassle-free experience from booking to landing.”
Lisa Kiefer Sayer, Founder and CEO of JetASAP, joins FlyHouse’s leadership team.
She says, “In the coming weeks and months, I’ll be working closely with the team to scale both the FlyHouse app and JetASAP, building on our solid foundations. Together, we will be stronger and move even faster to reimagine the future of aviation.”
Since its launch, JetASAP has been adding features and benefits.
Last October, it added an enhanced empty-leg search function.
In launching, Kiefer Sayer said JetASAP wanted to target consumers who didn’t want to work via brokers.
Kiefer Sayer is a former charter operator sales executive.
She says the JetASAP app enables operators to develop direct customer relationships.
The paid member app enables users to request quotes directly from operators.
After a user puts in their request, interested operators offer flight quotes.
The user then negotiates and contracts directly with the operator.
Since its launch, she says over 400 operators have quoted trips via JetASAP.
While JetASAP is a paid subscription, the FlyHouse app, which is in a soft-launch mode, charges consumers a flat fee of a 5% markup.
Consumers booking charter flights contract with FlyHouse but are subject to the operator’s terms, which cover cancellations and other issues.
Users can also book car rentals and catering via GoRentals and Air Culinaire partnerships.
Lambert says FlyHouse concierges assist, and there is no markup on the services.
According to the executives, JetASAP’s app has over 30,000 downloads and around 6,000 paid and sponsored users.
Lambert expects to generate extra revenues by selling advertising to luxury goods companies that want to reach their apps’ UHNW users.
He declined to say how many operators or aircraft are on the FlyHouse app.
Users can book flights up to 72 hours before departure.
Lambert says users receive hard quotes within three minutes that can be booked instantly via APIs with operators.
He says operators who don’t honor their quotes will be removed from the platform.
The FlyHouse website lists its fleet as 10 aircraft, including Gulfstream IVs, Vs, 550s, Gulfstream 200s, and Hawker 850XPs.
Lambert says FlyHouse-managed aircraft will not be preferred on either platform.
Operators searching for booking technology acquisitions over the past few years are not new.
The industry has sought to digitize and streamline the charter booking process for more than two decades.
In recent years, Wheels Up bought Avianis in 2019.
Directional Aviation, parent of Flexjet, Inc., acquired FlyEasy in 2021.
VistaJet, XO parent Vista Global, acquired JetSmarter and Camber.
READ: The digital private jet charter booking revolution is still delayed
The FlyHouse-JetASAP deal could be another sign that M&A activity in private aviation is ready for a resurgence as the market normalizes from the 2021-22 frenzy.
Earlier this month, we reported that GrandView Aviation is negotiating to be sold just two years after being acquired.
Q1 2022 saw nine M&A deals, including six in March of that year.
Since last year, Wheels Up has shed its aircraft management business to Airshare, sold its aircraft sales unit to management, and entered a licensing agreement for Avianis.
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