The Chapter 7 Trustee for Zetta Jet alleges the glitzy private jet charter operator was in a constant state of financial distress from the start
The Trustee is seeking to claw back over $450 million from more than a dozen entities
If it sounds too good to be true, it might be too good to be true. While failed Zetta Jet marketed a champagne and caviar image, it apparently was charging Red Lobster prices and moved from financial crisis to crisis from its inception, despite portraying itself as being well-capitalized.
Its website at the time said the private jet charter operator offered “pure indulgence,” combining “Asian inspired service, European chic, and American can do.” It promised, “At Zetta Jet, no desire is too extravagant and no request too difficult.”
The recent JetLux indictment alleging over $2 million in credit card fraud may have been enabled by bargain hunting customers
Private jet charter brokers are often harangued for not having to disclose their mark-ups. The assertion is they are charging whatever the market will support, and savvy customers can negotiate better deals.
Several websites have launched in recent years connecting consumers directly with jet operators, ostensibly cutting out the middleman or at least the commissions. They claim to offer wholesale pricing making money via membership fees.
While a one-off short flight on a light jet might be had for as little as $5,000, you can also buy a new $70 million ultra-long-haul private jet. We look at the options, including full ownership, fractional shares and leases, jet cards and on-demand charter
The cost of a private jet varies widely, from owning an entire aircraft to chartering on-demand. But what are the options?
Fractional ownership and leases, as well as jet cards, have become a popular middle ground, providing convenience and consistent experience in many ways offering the best of either full ownership or on-demand charter.
However, figuring out the right solution isn’t necessarily based only on flight hours. Current U.S. tax benefits of full or fractional ownership can tilt the scale in their favor, particularly if most of your flying is for business.
The Argus and Wyvern accredited broker of jet cards and
on-demand charter released customer trends from Q1 2019
PrivateFly, which recently absorbed sister Directional Aviation broker Skyjet recently, said its customers were booking further in advance, flying in larger jets, spending more, but taking fewer people with them.