No longer for C-level executives: Private jets, luxury memberships and JetSmarter
Mar 08, 2018 06:14
Relatively new players in private aviation, JetSuite and JetSmarter made ripples in the aviation industry when they announced their unique business model, which came with a promise of providing luxury at never-seen-before prices. These companies have disrupted the private aviation industry by making the process of booking a jet simpler.
JetSmarter, JetSuite, VistaJets and Surf Air are some of several private aviation companies which are working towards opening the doors to private jets to regular travelers. These companies, at several instances, are able to offer flights at highly appealing prices, since the trips are shared with a bunch of other passengers or even your own friends and family.
While this may not be private flying in terms of having an entire jet plane to yourself, the system offers great convenience. Travelers fly in and out of smaller, private airports, where they are saved from the never-ending queues, and can arrive just 15 minutes before their scheduled departure. That’s a lot of relief, right?
According to a research conducted by Virtuoso, the increase in the number of aviation solution providers has amped the competition in the market, leading to a drop in the prices. The average price for a private jet flight has declined by 13 per cent from 2014 to 2016. Virtuoso’s statistics also indicate that the drop in prices has led to an increase of 10 per cent in the number of private charter trips.
Ever since its inception in around 2013, JetSmarter has been a great example of sharing economy in private aviation. The company sells shared flights, and operates on a membership model. Fliers pay about $15,000 the first year, and the amount drops down to $13,000 in the second year. Those who find the amount overwhelming, the company offers them a basic membership for just $5,000 a year.
Fliers book seats on already scheduled flights through JetSmarter app, which lists more than 150 domestic and international trips every day. While trips less than three hours are covered by the company in the cost of membership, longer flights cost about $300 per person. According to JetSmarter CEO Sergey Petrossov, most flights have an average of 8-10 passengers.
Private aviation companies like Surf Air and JetSmarter try to sell the scheduled private flights as discounted rates, rather than having the plane fly empty. According to industry experts, this strategy works wonderfully in terms of cutting down the fuel costs, placing private jets within the reach of people who wouldn’t otherwise be able to afford this luxury and convenience.
Thanks to the likes of JetSmarter, private jet flying is now open to a diversity of passengers, not just celebs and CEOs.
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