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.
The world’s largest private jet operator has released a summary of both precautions it is taking as well as current travel restrictions
As more and more airlines cut back on their flight schedules due to government restrictions and plummeting demand, NetJets and other private aviation providers continue to offer critical links in these challenging times.
In an update posted yesterday on its website, the world’s largest private jet operator wrote, “The COVID-19 pandemic has created a constantly changing landscape at NetJets. We will continue to issue operational updates as they become available, but we wanted to take a moment to provide reassurance that we are taking all necessary precautions to mitigate the spread of the virus and continue to keep our owners and our employees safe.”
XO plans to expand both fixed and dynamic pricing jet memberships to Europe by 2020
With the “heavy lifting” of the XOJET-JetSmarter integration behind it, Vista Global chairman Thomas Flohr tells Private Jet Card Comparisons the company will roll out memberships for its rebranded XO in Europe as early as second quarter 2020.
Additionally, the company is making a major change in how it sells both on-demand private jet charter as well as pricing options for its dynamic pricing jet card membership programs.
Will any light jet do, or would it be better to have a specific type such as the Embraer Phenom 300?
While there are many variables that separate the over 300 jet cards in the Private Jet Card Comparisons database – over 65 in fact, one difference means a lot to some people and nothing to others.
However, for both types of buyers, choosing the wrong type of program can make for a less than enjoyable experience despite the provider’s overall merits. Figuring it out before you sign can both save you money and make sure the program fits your mission needs.
There are essentially two ways that available aircraft are structured for fixed-rate (and usually guaranteed availability) programs by jet card providers.
One is by cabin-class or size. When buying into a cabin class you are assured of getting an aircraft in that class or larger if you are lucky enough be upgraded based on operational needs.
The other is by specific aircraft make or type, for example, you are buying into an Embraer Phenom 300. So while the provider may let you fly in other types, you know when you want a Phenom 300, you’re going to get a Phenom 300 and not some other type of light jet.