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.
Customers looking for ultra-long-haul, fixed-rate private jet programs with guaranteed availability now can compare Qatar Executive with NetJets and VistaJet
Despite its name and Doha base, the operator of Gulfstream G650ERs, G500s, Bombardier Global 5000s and an XRS has its eyes on U.S. and European customers
Not since the short-lived existence of Zetta Jet has there been a player that looked like it might be able to challenge NetJets and VistaJet on the world stage, at least when it comes to offering an ultra-long-haul, fixed-rate, guaranteed availability program.
Long a key operator in the on-demand charter market, The Diamond Agreement, announced Tuesday, gives Qatar Executive a fixed-rate, ferry-fee free, guaranteed availability option many travelers crave.
The Diamond Agreement provides fixed rates and guaranteed availability starting at 50 hours
The Doha-based private jet charter operator features a fleet of large cabin and ultra-long-range Gulfstream and Bombardier private jets
Qatar Airways’ Qatar Executive division is set to launch a fixed-rate, guaranteed lease program starting at 50 occupied hours. An official announcement is expected later today.
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.
Jet card and charter operator JetSuite is adding Phenom 300s, paring down its Phenom 100 fleet, and is planning to add at least another type
JetSuite and its sister company JSX are projected to have more than 100 aircraft by 2023
The revamped SuiteKey jet card program with fixed-rates and guaranteed availability is attracting national demand, says president Stephanie Chung
As Dallas-based JetSuite makes the turn into its second decade, its president Stephanie Chung says after a year on the job, she is ready to help lead the company into a future that looks to be focused on larger aircraft. It means paring down the Embraer Phenom 100 that helped launch the company. It recently stopped accepting new members and renewals for the type.
Chung said, “Our immediate goal is to become a dominant provider in the U.S. and to accomplish this, we will continue to add more 300s, as well as gradually lessen our footprint within the very light jet space.”
The charter operator and its parent Qatar Airways along with
JetBlue are investors in JetSuite
Qatar Airways last week announced an order for 18 Gulfstream aircraft during a ceremony at the White House. The order worth over $1 billion is for 14 Gulfstream G650ER and four Gulfstream G500 and will add to Qatar Executive’s growing fleet that currently includes six G650ER and four G500 aircraft.
Gulfstream executives had previously reported the order, however, the customer had not been disclosed. Flexjet had been mentioned along with Qatar Executive as likely buyers.
Qatar Airways Group chief executive, Akbar Al Baker said,
“Qatar Airways is very pleased to confirm this landmark deal with
Gulfstream. Our corporate jet division, Qatar Executive, goes from strength to
strength and this commitment to new orders will allow us to offer our bespoke
luxury service to even more passengers.”
Flexjet is already a significant Gulfstream operator and has been ramping up its expansion plans for Europe
A report last Friday by Corporate Jet Investor (CJI)
speculated that Flexjet might be readying a billion-dollar order with
Gulfstream. The item came after Phebe Novakovic, CEO of General Dynamics,
parent of the business jet manufacturer, told analysts the division was working
on a big deal and it was with an existing customer.