Cash buyers may find hidden deals on pre-owned private jets

Pre-owned private jet cost

Needy sellers of used private jets are out there, but it’s unclear who they are

Long-range private jets provide the most opportunities, says one expert

During a Corporate Jet Investor virtual town hall meeting on aircraft transactions today, industry executives from around the world said uncertainty in both the economy and business aviation is providing opportunities for buyers. However, where they are, isn’t necessarily clear. And getting a deal done has plenty of hurdles.

XO offers inbound private jets to New York for medical supplies

XOJET XO

The unit of Vista Global Holdings joins VistaJet, which is offering empty legs for repatriations and emergency supplies

XO, the combination of XOJET and JetSmarter, and now part of Vista Global Holdings, is offering inbound flights to New York to transport medical supplies.

Prive Jets sets $50,000 deposit jet card

Prive Jets

The jet card broker has also reduced daily minimums for light and midsize jet flights east of the Mississippi

Miami-based Prive Jets is creating a reduced deposit program at $50,000. Hourly rates are the same as its $100,000 deposit jet card.

Light jet rates for the new program are $4,815 per hour. Midsize jets are $6,265 on an hourly basis, with super mids at $8,905, and heavy private jets at $12,565.

What happens to the Federal Excise Tax you prepaid for your Jet Card before the CARES Act?

Jet Card

The COVID-19 Coronavirus assistance legislation eliminates the 7.5% FET between March 28, 2020, and year’s end

What are the best strategies for Jet Card flying during the FET holiday

Updated April 6, 2020 @7:16pm

One point of the 880-page CARES Act is a waiver of the 7.5% Federal Excise Tax (FET). The holiday lasts between March 28 and December 31, 2020. It’s normally levied for domestic Part 135 flights, which includes domestic jet card trips. It was also applied to U.S. flights that start or end within 200 miles of the southern and northern borders.

You might naturally assume that you won’t pay FET for flights during the rest of the year. You would be wrong. It depends on your program. So, how does this impact you?

NetJets restructures jet card pricing, reduces rates

NetJets pricing

The world’s largest private jet operator is updating its Marquis Jet and Elite jet card memberships in response to declining fuel prices and the COVID-19 Coronavirus pandemic

NetJets is eliminating fuel surcharges on its Marquis jet card programs and moving to inclusive pricing. At the same time, it is reducing the inclusive pricing on its Elite branded jet cards.

The move was not publicly announced but is instead being communicated directly to customers and prospects.

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