Flexjet’s Mike Silvestro on Uber, fractional ownership trends, safety, and growth opportunities

Flexjet

Flexjet CEO Mike Silvestro covered a wide range of topics during an appearance on Fox Business Channel earlier this week

Speaking on Mornings with Maria earlier this week, Flexjet CEO Mike Silvestro covered a wide range of topics related to business aviation, including attempts to Uberize private jet travel, fractional ownership and leases, safety in the aftermath of Boeing MAX, market growth and potential.

How much does a private jet cost?

private jet cost

While a one-off short flight on a light jet might be had for as little as $5,000, you can also buy a new $70 million ultra-long-haul private jet. We look at the options, including full ownership, fractional shares and leases, jet cards and on-demand charter

The cost of a private jet varies widely, from owning an entire aircraft to chartering on-demand. But what are the options?

Fractional ownership and leases, as well as jet cards, have become a popular middle ground, providing convenience and consistent experience in many ways offering the best of either full ownership or on-demand charter.

However, figuring out the right solution isn’t necessarily based only on flight hours. Current U.S. tax benefits of full or fractional ownership can tilt the scale in their favor, particularly if most of your flying is for business.

PrivateFly adds large-cabin private jet fixed one-way flight pricing in Europe

PrivateFly

The move follows its announced one-way rates via Nextant 400XTis launched in April

Private charter platform PrivateFly, a Directional Aviation company (think Flexjet and Sentient Jet), has announced new routes to its City Pairs program, offering fixed prices on the large cabin Embraer Legacy 600. The new pairs include London and Mykonos; Paris and Marrakech; and Moscow and Nice – and follow the existing price menu for the six-seat Nextant 400XTi, which launched in April.

In a press release received by Private Jet Card Comparisons, the company says its fixed price City Pairs have proved very popular with its on-demand charter clients since the launch, and now account for over 25% of its flights. The new routes and the bigger cabin option have been added following customer demand.

Wheels Up has purchased Travel Management Company

Wheels Up

The deal, which is being announced this morning, and closed Friday, adds 26 light jets to the Wheel Up fleet

Wheels Up announced this morning that it has closed a deal to acquire Elkhart, Indiana-based Travel Management Company (TMC), a significant fleet operator of owned and leased light jets serving the on-demand charter market. The deal will increase the current Wheels Up fleet to 119 owned and leased aircraft. Terms of the deal were not disclosed.

For Wheels Up founder Kenny Dichter, who helped popularize jet cards by launching Marquis Jet Partners in 2001 before selling it to NetJets in 2010, the move comes after he announced in January he had hired Goldman Sachs and Bank of America to provide advice on strategic options.