The two biggest players in fractional jet ownership have different approaches to the jet card segment
The vast majority of jet cards are marketed by charter brokers, however, two of the most prominent names in the jet card space – NetJets and Flexjet – are in fact fractional aircraft operators with their principal business selling fractional shares and leases in whole aircraft. Fractional ownership entails a commitment of three to 10 years whereas, with jet cards, we have seen programs with commitments starting as few as 10 hours and $25,000.
The Englewood, Colorado-based jet card membership program offers guaranteed one-way hourly prices on more than 50 aircraft types from the King Air to a Gulfstream G650
One drawback of many jet cards is you choose a category of the private jet, typically Light Jet, Midsize Jet, SuperMid and Heavy Jet and while many programs allow you to upgrade or downgrade your category, the provider can give you any aircraft in that category that fits its sourcing criteria. Fleet operators and fractional jet card programs, as well as a few broker programs, allow you to select aircraft types, however, ONEFlight enables its customers to choose from over 50 aircraft types, each with its own hourly rate. Even better, you can choose whichever aircraft type you want for every trip.
The private jet operator said U.S. flight hours jumped 39% last year driven by its flexible, global version of a jet card program
VistaJet reported 2017 flight revenue rose by 22% driven by the continued popularity of its subscription business model, VistaJet’s version of a jet card. The company also reported its EBITDA jumped by 28% driven by its “scalable infrastructure and technological advantage.” The company has posted year-over-year organic compounded revenue growth of over 18% between 2008 and 2017, it said.
The Airstream Jets Distance Card program uses a mileage-based formula, instead of hours
Florida-based Airstream Jets is offering discounts and upgrades for buyers of its jet card program, but the offer is very short term, ending April 17, 2018. The Distance Card uses a mileage-based formula to calculate trip costs eschewing the standard hourly formula used by programs that offer fixed one-way pricing.
Surf Air is announcing 10 new routes next week, including flights to Milan, Munich, Luxembourg, Brussels, Vienna, Geneva, Nice, Basel and Brussels
After nine months of seemingly being stuck in neutral, it turns out Surf Air Europe is going to significantly expand its flying there. In terms of keeping track of what’s happening, it has been a winding road for us. A few weeks ago we heard that Surf Air had laid off some of their sales, marketing and support team. Operations, which are contracted out to Flexjet Ltd., were apparently not impacted, however, it did cause us to take a step back and wonder what was going on.