JetSuite burned through at least $100 million in cash before filing for Chapter 11

JetSuite bankruptcy

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.

Qatar Executive offers a NetJets, VistaJet ultra-long-haul alternative for global private jet travelers

NetJets compared to VistaJet and Qatar Executive

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.

Qatar Executive launches fixed-rate private jet lease program

Qatar Executive

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.

Flexjet, Qatar Executive will be launch customers for the Gulfstream G700

Gulfstream G700

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.

JetSuite is Phenom 300 focused with plans to add new private jet types

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.”

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