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.

Departures’ editors pick Legend Award winners in private aviation

The awards include private jet operators, luxury hotels, cruise lines, and architecturally interesting buildings

Departures, a bi-monthly magazine for American Express Platinum and Centurion cardholders has published what it is calling, “The Legend Awards.” In terms of how the list was put together, the publisher states, “We’ve sourced the best of the best in luxury offerings in the travel industry this year. And we’re sharing our insights with you.”

Jet Card Insider: If you think you know JetSuite, you don’t know JetSuite

JetSuite bankruptcy filings

JetSuite is repositioning itself as a premium light jet experience, including guaranteed availability, fixed hourly rates and now helicopter transfers via Blade and integrated, full luxury travel agency services through a partnership with Embark Beyond

Editor’s Note: Updated on September 16, 2019

Entering its second decade, JetSuite’s is repositioning itself to offer a premium light jet experience, including guaranteed availability, fixed hourly rates and now helicopter transfers via Blade and integrated, full luxury travel agency services for its SuiteKey members and on-demand charter customers through a partnership with Embark Beyond.

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