Private Jet Card Comparisons - Know Before You Buy
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(Updated April 11, 2023) The COVID-19 crisis may be bringing the already simmering mergers and acquisitions market for private jet operators and brokers back to a boil.
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.
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.
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.