Let’s make a deal. The M&A market for private jet operators is hot. Over 50 deals, fundraises, launches, and bankruptcies detailed
(Updated June 8, 2021) The COVID-19 crisis may be bringing the already simmering mergers and acquisitions market for private jet operators and brokers back to a boil.
In addition to over $50 million in jet card deposits, grounded private jet charter operator JetSuite received over $57 million from affiliates since 2016
Flight delays caused by President Trump, stolen silverware, broken coffee makers and ‘race to the bottom’ pricing’ increased the losses
Is a JetSuite 2.0 in the works?
Court documents from the bankruptcy proceedings of Superior Air Charter, LLC, better known as JetSuite, show a company that was burning through cash since at least 2016.
During that time both JetBlue Airways and Qatar Airways made investments into the parent company JetSuiteX, Inc. Additionally, JetSuite used $50 million in unredeemed deposits from jet card customers towards operations, something its contracts permitted. The company, like other key players in the market, did not offer an escrow account.
JetSuite offers a jet card program through SuiteKey and semiprivate flight via JetSuiteX.
Zunum Aero, a pioneer in electric aviation, and JetSuite, Inc., a provider of jet cards, on-demand charter and semiprivate jet flights announced today that JetSuite will be the launch customer for Zunum’s hybrid-to-electric aircraft. The aircraft, the first of a planned family of regional aircraft platforms, seats up to 12 passengers and will be available for delivery in 2022.
JetSuite has announced a new round of funding to grow both its JetSuite jet card and on-demand charter business and its by the seat JetSuiteX fleet and flights
Let the good times roll. Private aviation is continuing to attract investors from celebrities and private equity to energy companies and even commercial airlines. Earlier today, JetSuite announced that it had raised an undisclosed amount of money from Qatar Airways.