JetSuite burned through at least $100 million in cash before filing for Chapter 11

JetSuite bankruptcy

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 to be launch customer for Zunum Aero hybrid-to electric aircraft

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 plans expansion after ‘significant’ investments from Qatar Airways and JetBlue

JetSuite bankruptcy filings

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.

JetSuite Expands Into Aircraft Management

JetSuite, Inc., which offers on-demand charter, jet cards, empty legs and scheduled flights between private aviation facilities through JetSuiteX, is now expanding into aircraft management, targeting single aircraft owners. By entering management, JetSuite can expand its charter and membership business.

JetBlue Invests In JetSuiteX

The connection between JetSuite and JetBlue continues to grow with this new investment. What does it mean?

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