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.
A subsidiary of Qatar Airways Group; In the group with Qatar Duty-Free, Qatar Airways Cargo, Al Maha Services, Qatar Aviation Services, Qatar Aircraft Catering
Founded in 2007 as a fully owned subsidiary of award-winning Qatar Airways, Qatar Executive has a fleet of long-range and ultra-long-range Gulfstream and Bombardier jets. It is a launch customer for the Gulfstream G700.
In 2020, it launched The Diamond Agreement offering global fixed-rate, guaranteed-availability private jet solutions.
Qatar Executive is included in Private Jet Card Comparisons’ database of over 50 jet card providers, enabling you to compare programs in minutes.
For Flexjet the order follows its $1.4 billion deal with Embraer announced earlier today; For Qatar Executive, it’s in addition to its July billion-dollar Gulfstream order
A billion dollars here. A half-billion or so there. It is Las Vegas after all. As the National Business Aviation Association’s annual convention kicks off here, Flexjet followed up its morning announcement it is buying $1.4 billion in private jets from Embraer by placing an order to be the North American launch customer for the Gulfstream G700.
(Updated Oct. 23, 2019: Flexjet’s order is for 16 G700s valued at $1.2 billion)
Flexjet’s chairman Kenn Ricci wasn’t the only CEO playing at the high stakes table. Akbar Al Baker, CEO of Qatar Airways, is buying 10 of the new ultra-long-range, ultra-fast private jets for his Qatar Executive charter division. It follows a billion-dollar order with the Savannah, Georgia-based manufacturer in July.