Both the Coronavirus pandemic and the CARES Act waiving the 7.5% Federal Excise Tax are impacting jet membership costs and terms
To say the past month and a half has been a roller coaster for private aviation would be an understatement.
March started with high hopes. A spike in requests from first-timers who wanted to get to second homes or relocate family members kept activity close to normal.
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?
Taking a few minutes to assess your needs before contacting jet card providers will help them help you
Jet cards make private jet charter easy. Many cards offer fixed rates and guaranteed availability.
That means as long as you call, email, text or tap your app based on the rules of your program, you know what you will be paying in advance.
By far, most complaints I get are from buyers who didn’t do proper research or hadn’t thoroughly considered their needs before buying
That said, everyone’s needs are slightly different.
To get the best assistance, I recommend considering the following before you call or request information.
Users get comparisons of jet card providers, flight pricing, charter brokers and aircraft performance
For corporate travel managers and luxury travel advisors, sourcing the best private aviation solutions can often be a challenge. To assist the trade, independent buyer’s guide Private Jet Card Comparisons now offers a suite of reference information. The service is designed to help advisors and corporate managers find the best solutions for their customers and employees.
There are over 50 different brands selling private jet memberships. Here’s a look at who’s behind these providers.
Since the Great Recession, the number of jet card sellers has more than doubled. During the same period, annual deliveries of new jets remain about 40% below record levels. The number of national fractional share providers is down to just two, NetJets and Flexjet, both selling jet cards too. In Jet Card Buyer’s Tip #1, we look at the breadth of companies selling jet cards.