JetSuite refutes customers who allege a Ponzi scheme

JetSuite bankruptcy filings

A pair of JetSuite SuiteKey jet card members contend wrongful conduct and breach of fiduciary duties

“JetSuite will fly again,” says its chief restructuring officer, debating the Trustee’s allegation that the private jet operator’s bankruptcy is a liquidation and not a restructuring

Just when it looked like JetSuite’s Chapter 11 bankruptcy filing was about to move quickly through the courts, it may have hit a pair of speed bumps.

JetSuite SuiteKey members offered 15% of balances in JSX credits

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80% of the credits will be good for discounts of 32.5% to 55% on JSX’s scheduled flights

In a filing with the bankruptcy court released earlier this evening, Superior Air Charter, known as JetSuite, revealed its offer to SuiteKey jet card members. The filing shows these customers had $49.5 million of flight credits when the Phenom 300 operator shut down in April.

An estimated $50 million in jet card deposits are at stake in JetSuite’s shutdown

JetSuite bankruptcy filings

Customers say there have been no communications since the private jet operator posted notice Thursday it had grounded its fleet

Private jet charter operator JetSuite and its sibling JSX look to be facing an uncertain future. The latter runs scheduled flights between private terminals using reconfigured regional aircraft.

Both had cut a high profile in the industry, attracting investments from JetBlue and Qatar Airways.

JetSuite sibling JSX, Air Partner highlight private corporate shuttles as COVID-19 Coronavirus cuts airline service

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Corporate shuttles have long been a staple of business aviation, but now are serving a more critical purpose

Major companies around the world have long chartered aircraft to operate corporate shuttles. The shuttles typically operate on a schedule, many times between company locations where there is a lack of nonstop airline flights.

Types of aircraft used vary from traditional private jets to regional airliners converted into an executive cabin. Some companies have even operated these types of shuttles on transoceanic routes.

JetSuite launches SuiteSpot promo with Phenom 300 $5,795 hourly rate

JetSuite

The new-member offer reduces hourly rates on its Embraer Phenom 300 fleet to $5,795 during the first six months

JetSuite, which last year added five Embraer Phenom 300s, is now offering new members in seven Southwestern U.S. states significantly reduced hourly rates as low as $5,795, which is up to 15% off normal pricing.

Regular program rates range from $6,375 to $6,776 per hour, excluding 7.5% FET, based on deposit tiers ranging from $100,000 to $500,000.

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