JetSuite’s SuiteKey customers unhappy with bankruptcy offer

JetSuite

In a filing last week, the grounded private jet charter operator outlined what its jet card customers might receive in exchange for their $50 million in unused flight credits

What’s nearly $50 million in unused flight credits worth when your jet card provider goes bust?

The answer looks to be less than customers had hoped for, but more than past bankruptcies and closures.

Zetta Jet’s latest legal woes reveal a business “insolvent almost from inception”

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.”

New court documents provide a behind-the-scenes look at the Zetta Jet fraud accusations

Zetta Jet NetJets VistaJet private jet charter

An FBI affidavit alleges millions of dollars in funds from charter brokers and consumers were funneled to bank accounts used by Geoffrey Cassidy to support a lavish lifestyle of yachts, expensive Swiss watches and luxury real estate

As part of efforts here in the United States by the Court’s Trustee to impound a yacht in Australia connected to former Zetta Jet managing director Geoffrey Cassidy, Private Jet Card Comparisons was provided a 46-page sworn affidavit by an FBI special agent. The authenticity of the document, which was marked as “sealed” could not be confirmed, however, the case was recently covered in the local media Down Under.

Surf Air responds as Encompass Aviation sues citing $3.1 million in unpaid bills

private jet membership comes to Europe

Encompass Aviation says Surf Air owes it $3.1 million on top of the IRS’s claims of nearly $2.5 million

 

As we reported here first in the wee hours of Saturday morning – just after midnight – we received a press release from Surf Air announcing it had terminated its agreement with Encompass Aviation LLC. The news took Encompass by surprise, and we reported that the Part 135 charter operator that had been flying Surf Air customers in California claimed it was owed significant money and planned to pursue legal remedies. Yesterday

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