The website for jet card broker Ecojets is offline and the company hasn’t posted on its social media since the beginning of August
When Ecojets launched last year, its jet card program seemed good. In fact, in the end, it may have been too good to be true. While offering attractive hourly rates, it also gave members savings of up to 50% if they signed up for its Platinum Level, chose older jets, flew qualifying roundtrips and booked in advance. What’s more, their money would come in the form of a credit to a Mastercard or VISA debit card meaning they could use it like cash for purchases at any place that accepted the two global payment systems. It offered guaranteed availability and fixed one-way prices and even started selling its program on Amazon.
The jet card program had launched a “cash back” jet card in 2017
(Updated Aug. 17, 2018 – 5:55 pm – After we published this story, Edgar Costa reached out and told Private Jet Card Comparisons, “The bankruptcy is a fraudulent attempt by Don and Kerry Wellington to try to buy back the hotel for a fraction of the value. Regarding the hotel, at the time of my acquisition, I requested a forensic audit of the project. The only time I have managed the hotel was March to June 2018. Kerry Wellington, Don Wellington, Howard Dean and John Krupa have received from banks and project investors $45 million and the hotel budget was $20 million. The question is really about their misappropriation of funds and bad management.” Costa also forwarded us a report published yesterday of a lawsuit filed against the Wellingtons and a third party on Aug. 8 for “failing or refusing” to honor their obligations under a loan agreement for a separate project. The article noted no criminal charges have been brought against Costa in the TIME Nyack bankruptcy.)
Edgar Costa, the CEO of jet card charter broker Ecojets is “fighting back” after being accused of fraud in a hotel bankruptcy, according to three newspaper reports. The story has apparently been unfolding since July 16th when the TIME Nyack Hotel filed for Chapter 11 protection. In the news report from a local newspaper in the Lower Hudson Valley, it said, “Investors said the first move was to regain control by filing for Chapter 11 to get rid of manager Edgar Costa, whom they described as a conman who allegedly stole at least $1 million from the business.”
The number of new jet card providers and programs has grown more than 20% in just the past three years
Over the past three years, there are at least seven new private jet card providers that have entered the market, either start-ups or existing aviation companies that have launched jet card programs. Additionally, there are at least three or four programs soon to be launched we are aware of and getting ready to fill you in on the details.
Surf Air is now accepting Bitcoin and Ethereum for both membership or charter flights. The company’s network has three zones that include San Francisco/Bay Area, Los Angeles, Santa Barbara, San Diego, Truckee, Napa, Monterey, Las Vegas, Austin, Dallas, Houston, Midland, San Antonio, The Woodlands, Oklahoma City, London, Zurich, Ibiza, and Cannes. Membership prices are posted on today’s equivalent exchange rate for 12-month advance payment and initiation fee.