Home / Blog

Jet Partners' Private Jet Charter Blog

The Gulfstream G650 – And The Companies Who Own Them

The Gulfstream G650 is one of the most luxurious private aircraft available on the market today. This business jet can carry 11-18 passengers, and costs around $65 million.

Interested in learning more about the companies and people who own a G650? Read on!

Starbucks – Howard Schultz

Starbucks is one of the most successful companies in America, so it’s no wonder that CEO Howard Schultz has access to a Gulfstream G650. When you run a company with a market capitalization of more than $82 billion, you’ve earned the right to a few luxuries!

Mr. Schultz, in particular, has been instrumental to the growth of the company, and is worth more than $2.9 billion. He was responsible for the founding and growth of Starbucks since the early ‘80s.

While he has recently resigned as the CEO of the company, and now only serves as an executive chairman alongside newly-named CEO Kevin Johnson, he is still essential to Starbucks and their continued operations.

Valeant Pharmaceuticals – Joseph Papa

Valeant Pharmaceuticals has been the subject of some controversy recently. There were allegations that Valeant, as well as hedge fund Pershing Square, run by Bill Ackman, were responsible for insider trading – and over the 2017 winter holidays, Valeant worked out a deal to pay $290 million in restitution to groups of shareholders. Pershing Square Will have to pay more than $190 million for their part of the insider trading settlement.

While the company may still be struggling, they are still lucky enough to hold onto their Gulfstream G650. At least their corporate lawyers will be traveling in style!

Below you can see pictures of Valeant G650 interior courtesy of JetNet

Apple – Laurene Powell Jobs

Laurene Powell Jobs, the wife of the late Steve Jobs, still has a Gulfstream G650. Apple, and Steve Jobs in particular, had a profound influence on our world. From the way we take photos, to how we interact with each other using smartphones and computers, it’s hard to overstate how revolutionary Mr. Jobs was to our modern world.

Though Mr. Jobs departed from us too soon, his private jet still remains with his wife, who can now use it as part of her philanthropic work, which primarily concerns environmentalism and immigration reform, among other social issues.

SpaceX/Tesla – Elon Musk

It should come as no surprise that the gadget-loving Elon Musk, head of both Tesla and SpaceX, has a pricey toy in the G650 Gulfstream private jet. But unfortunately, both SpaceX and Tesla are undergoing some major budget issues.

There are doubts that SpaceX will ever be profitable, and Tesla recently announced a recall of more than 123,000 Model S vehicles due to faulty steering components. So, it’s perhaps ironic that Musk can spare such a large sum for a private jet – while his companies struggle to forge a path into the future. For now, maybe he should consider a smaller plane, chartering his next flight – or even just flying first class!

Chartering A G650 Is Much Cheaper Than Owning It!

While owning a private jet is out of the question for most companies, chartering a G650 is quite a bit cheaper than owning one. In some cases, companies can charter one of these craft for less than $10,000/hour. So if you’re not quite on the level of Steve Jobs, Elon Musk, or the Starbucks CEO, you can still get into a Gulfstream – just don’t expect it to be cheap!

Why Jet Chartering Is Becoming A Better Option Than Jet Ownership

Private jets are expensive. That’s probably not news to you. But recently, even larger companies have begun feeling the squeeze of having their own fleet of private jets. General Electric – which had a revenue of $123.7 billion in 2016 – recently made the decision to sell most of their fleet of private aircraft.

GE has had a private flight department for over 75 years, but it’s downsizing dramatically. The company plans to hold onto one light jet, and take delivery of one more sometime next year. This is part of a larger effort by GE to eliminate “unnecessary expenses” to the tune of around $2 billion per year.

So why are large companies like GE turning to alternative private flying methods – such as fractional ownership or chartering – rather than jet ownership? Let’s get into the reasons now.

Jet Ownership Has Incredibly High Overhead Expenses

As you’re probably aware, buying a private jet for personal or business use is very expensive. Most private jets cost between $5-$50 million – but that’s only the beginning of the expenses.

You’ll need a flight crew, maintenance team, safety inspections, hangar space, fuel tanks – the list goes on and on. And you’ll need to pay for these things regardless of whether or not you’re flying your jet regularly.

Even General Electric – who often had executives flying as many as 250 hours on private aircraft per year – claim that they will see serious cost-savings by hiring out private jets and chartering flights, rather than owning their own fleet.

You Can Charter Aircraft When You Need Them

Private flights are all well-and-good – and often, an urgent business meeting or other critical matter will require a private, point-to-point chartered flight. Doing so can save quite a bit of money, and this is one of the approaches that General Electric has emphasized, post-downsizing of their corporate jet fleet.

jet chartering or ownership

Corporate Jet Fleets Are Not Dead – But Alternatives Are Becoming More Appealing

With the increasing prevalence of “jet cards”, fractional ownership, and chartered private jet flights, the corporate jet fleet is becoming much less important. There are alternatives that promise significant monetary savings – while still offering a very similar private flight experience.

So while larger companies are not likely to get rid of all of their private jets anytime soon – even GE is hanging onto a couple – it seems that jet chartering is becoming a much more popular option.

Jet chartering offers serious monetary savings, great flexibility, and lower overhead costs, so we’re likely to see more companies than ever making use of modern private jet companies in the future.

Private Jet Charter Sales Spike Due to Hurricane Irma

Hurricane Irma, now downgraded to a Category I hurricane, continues to wreak havoc across the East Coast of The United States.

There were very few businesses that this devastating hurricane did not affect, and private jet charter companies such as Jet Partners saw a dramatic upsurge in flight demand as the storm approached.

The Cost of Last-Minute Flights Increased Dramatically As The Storm Approached

Hurricane Irma’s rapid rise and approach gave most South Floridians very little time to plan for evacuation. However, many residents and visitors did not take the storm seriously and did not make travel arrangements beforehand.

Even as late as Wednesday, September 6th, demand for private jets was relatively healthy – and Jet Partners, alongside other air charter companies, had plenty of flights available for average, standard hourly rates.

However, on Thursday, September 7th, evacuation orders were issued in South Florida. It became apparent that Hurricane Irma would be an incredibly powerful Category V hurricane when it made landfall in South Florida – and demand for flights increased dramatically.

Jet Partners, like other companies in the area, had an incredible upsurge in flight requests, which exceeded our total number of available aircraft in the area.

A Shortage Of Aircraft Meant Some People Couldn’t Fly – For Any Price

Many incoming callers believed that, if they had enough money, they could simply book a private jet with any air charter company. But this was not the case – even the wealthiest customers could not just book a flight by paying a lot of money.

For example, we had a CEO who was in Palm Beach and needed a flight to Atlanta. He offered a budget of $40,000 – but Jet Partners, just like many other companies, had already been fully booked. He was forced to drive north with the rest of the evacuees – which could have placed him in significant danger.

Booking A Charter Flight in Advance Provides Peace of Mind (And A Fair Deal)

If you book private jets often, you’ll know that waiting until the last minute can sometimes help you get a better deal. However, we’re here to tell you that this is not the case in a crisis.

Hurricane Irma is a great example of this. Once it was evident how dangerous the storm was, demand surged – and we were unable to serve every incoming client. This illustrates an important point. In case of a serious incoming natural disaster like a hurricane, the best way to secure a fair rate is to book early.

Even if a storm does not look too dangerous, it’s better to be safe than sorry – and making travel arrangements in advance is well worth the peace of mind, knowing that you have a confirmed, reliable method of evacuation, if necessary.

At Jet Partners, we offer fair rates, reliable service, and a service area that covers the entire United States. In a critical situation, we can provide you a cost-efficient, time-saving method of evacuation – and if you book in advance, you’re sure to be able to secure transportation out of the affected area.

Spring has Sprung!

Spring time is right around the corner as the weather begins to heat up and days lengthen so does the demand of private jet charter. With popular Spring events like March Madness, Easter, Passover and The Kentucky Derby, private jets will be flying all over the country.

Private Charter Travel & March Madness

Last year travel to Houston in the Spring was up an estimated 15% due to the NCAA Final Four with popular teams like North Carolina, Syracuse, Villanova and Oklahoma drawing in large crowds to fill up the 70,000+ fans into NRG Stadium.

March Madness Final Four

2017 will sure bring the same fanfare as Phoenix’s University of Phoenix Stadium will be host to the Final Four. Similar to Super Bowl XLIX in 2015, Phoenix Airport Int’l(PHX) will be the most popular airport, with Deer Valley (DCT) being a close alternative airport option.

Popular Easter & Passover Destinations

Palm Beach Airport (PBI) and Miami/Opa Locka Airport (OPF) are two of the east coast’s most frequently used airports to celebrate Easter and Passover. With the kid’s out of school for Spring Break and time to escape the cold temperatures these east coast beachfront cities are the perfect escape for sun and relaxation.

The Kentucky Derby – An American Tradition

This will be the 142nd running of the Kentucky Derby. Saturday May 6th the horses, hats, and age old traditions will make their return to Kentucky for another weekend of highly anticipated race excitement. The Derby is the longest running continuously contested sports events in history. They are also the only horse races to be held at their original location since their conception.

Kentucky Derby Private Flights

On average, the race attracts more than 100,000 spectators and race enthusiasts annually. Some of the most anticipated and important events at the derby are not the races themselves, but rather the traditions. Grab yourself a mint julip, a derby hat and a fancy new outfit for the annual running at Churchill Downs.

You can be sure that flying private into Louisville International Airport (SDF) is going to be a fashionable event in itself!

Big Changes Ahead for Santa Monica Airport

After decades of protests from residents and the city itself, the FAA and the city of Santa Monica have reached a compromise — moves to finally phase out the Santa Monica Airport (SMO) are underway. The complete shutdown of the airport will happen on December 31, 2028, but as of the end of January 2017, it’s been announced that the SMO is about to enter the beginning phase of shutdown.

The call to have the SMO shut down began in the 1980’s, so this move was a long time in the making—around three decades, in fact. However, it was only this year that the city of Santa Monica finally had its way.

Of course, private jet owners and operators can still go through the Van Nuys Airport (VNY), Burbank Airport (KBUR), or the Los Angeles International Airport (LAX), but as we all know, the commercial air carrier traffic is considerably heavier at these airports.

Santa Monica Airport

What Does This Mean for Smaller Aircraft?

The good news is that the runway shortening will affect commercial flights, for the most part, and aircraft that can manage with just 3,500 feet of runway can still use the SMO. However, for clients with larger aircraft, it may be high time to start using the other airports.

“This a historic day for Santa Monica. The FAA has finally and categorically said that we could do whatever we want with our land at the end of 2028. This is a windfall for the residents of the city.” – according to Santa Monica Mayor, Ted Winterer.

In place of the airport, plans are underway for a public park and recreational facilities.

The City of Santa Monica is required to keep the airport fully operational until 2023, as the city received a federal grant for the SMO’s improvements. Meanwhile, though, two fixed base operators, the Atlantic Aviation and the American Flyers, have been evicted. In their place, the municipal employees of the City of Santa Monica have taken over operations.

Skeptics are quick to point out that it’s more probable for skyscrapers to rise in the area, though. Per president of the Santa Monica Airport Association, Christian Fry: “Get ready for the high-rise wall. It won’t all be a park.”

As the Santa Monica Airport is closing, height restrictions for building construction will be relaxed. Thus, there just might be a wave of new high-rise developments in the area over the coming years.