NetJets predicts return to 2019 flight levels by 2021 as private aviation bosses offer a bullish outlook

NetJets, Wheels Up, and Sentient Jet execs tell attendees at Corporate Jet Investor Americas 2020 they expect the private jet recovery to continue through next year

Wheels Up, with the second-largest for-hire fleet behind NetJets, says flying is already at pre-COVID levels. Jet card leader Sentient Jet recently restored pre-pandemic budget levels

Airline CEOs continue to say it could take until 2024 or beyond to recover from the COVID-19 downturn. In a parallel universe, the heads of private aviation’s biggest players painted a far different picture. Bosses at NetJets, Wheels Up, and Sentient Jet each offered bullish 2021 forecasts. They were all speaking at Corporate Jet Investor Americas 2020.

Wheels Up gets $74 million in CARES Act funds

Wheels up CARES Act

Wheels Up Partners Holdings LLC incorporates Wheels Up, Gama Aviation Signature, Delta Private Jets, TMC Jets, and Avianis

If it’s Friday night, it’s a good time to check the Treasury Department’s website for updates about CARES Act awards. Tonight’s reveal showed on June 10 a payroll support agreement providing $74.2 was executed with Wheels Up Partners Holdings LLC.

Clay Lacy, Jet Linx lead private jet CARES Act recipients

Clay Lacy

Clay Lacy Aviation received $26.9 million while Jet Linx Aviation was given $20 million, according to U.S. Treasury documents

NetJets, Wheels Up, Flexjet, XOJET Aviation and related companies were notably absent from the Treasury Department’s list of COVID-19 aide recipients

See the full list of aviation companies receiving CARES Act Coronavirus financial support

In a list dated April 27th, the U.S. Department of the Treasury published names of 96 companies receiving some of the $32 billion earmarked to preserve aviation jobs. The list includes both airlines and private jet operators.

The act specified grants needed to be based on payroll expenses from April 2019 through September 2019, subject to proration. Funds must be used for the continuation of payment of employee wages, salaries, and benefits. 

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