JetSuite’s SuiteKey customers unhappy with bankruptcy offer

JetSuite

In a filing last week, the grounded private jet charter operator outlined what its jet card customers might receive in exchange for their $50 million in unused flight credits

What’s nearly $50 million in unused flight credits worth when your jet card provider goes bust?

The answer looks to be less than customers had hoped for, but more than past bankruptcies and closures.

JetSuite’s Chapter 11 filing reveals pre-Coronavirus challenges

JetSuite

In a first reveal from the bankruptcy court, the private jet charter operator’s Chief Restructuring Officer said JetSuite “was never able to operate profitably.”

Here’s why JetSuite didn’t qualify for the CARES Act

Documents confirm $50 million in unused SuiteKey jet card flight credits

A sworn declaration by JetSuite’s chief restructuring officer, Edward T. Gavin of Gavin/Solmonese, gives a unique view into the Part 135 charter operator leading up to grounding its fleet and subsequent Chapter 11 bankruptcy filing earlier this week.

The document, filed prior to a video hearing yesterday, confirmed $50 million in unused SuiteKey jet card balances, the amount estimated by Private Jet Card Comparisons in our earlier report.

JetSuite files for Chapter 11 bankruptcy with up to $100 million in liabilities

JetSuite

Since grounding its fleet earlier this month, the company had not communicated with SuiteKey jet card customers except to advise them of the shutdown

The company says it hopes to resume operations without disclosing specifics

JetSuite, dba as Superior Air Charter, filed for Chapter 11 bankruptcy protection in Delaware today. The move came two weeks after it suspended operations and furloughed most of its employees.

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

JetSuite JSX shutdown

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 grounds fleet amid COVID-19 Coronavirus crisis

JetSuite

Private jet charter operator JetSuite has grounded its fleet of Embraer Phenom 300s and 100s

Sister JSX is continuing a reduced schedule of flights between private jet terminals

Private jet charter operator JetSuite, which sells Phenom 300 jet cards, is halting operations. The move reflects a steep dive in private travel from the COVID-19 Coronavirus pandemic. Closure of many hotels and resorts has meant aside from second homes and emergencies, there are few places to travel.

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