"Business" Blog Category Archive

Are Growing Economies a Good Place for Private Jet Charter Companies?

Like many other industries, the airline industry has suffered over the past decade as the economy dipped and experienced a lackluster recovery. That struggle extended to private jet charter companies, but recent expansions in the niche industry may signal a recovery for private jet services.


Private Jet Charters and the economy

Growing Economies Need Efficient Transportation

Cities and states where business is booming are a great location for private charter expansions. Growing economies mean new businesses, expanding companies and more jobs. All those business folks have to get from place to place to give sales pitches, hold board meetings or conduct training. Private charters can offer affordable, efficient travel at a time when commercial airline ticket prices are increasing and flights run by the biggest airlines aren’t always reliable.

Why A Private Jet Charter for Business?

Private jet charters are expensive. Rates can range from $3,000 to $11,000 an hour for flights, but the services may still make sense for businesses. The cost of premium rates for flight time is alleviated by the benefits of efficiency and control. When business travelers opt for commercial flights, they could spend an entire extra working day traveling, which represents a loss in labor costs and possible delay on important projects. Add the costs expense of food, lodging and communication when traveling, and a one-day business trip can cost thousands. A single charter, which takes an hour or two both ways, can transport an entire team of 7 to 12 professionals for a premium price however mitigating and without requiring overnight stays.

Game-Changing Electric Aircraft Company Zunum Aero Inks First Deal With Charter Jet Companies

The world of charter jets may have just been changed forever. We keep a close eye on the charter jet industry – and the most recent news from Zunum Aero and JetSuite, Inc will certainly have ramifications in the world of regional charter jet transport.

In late May, Zunum Aero – a pioneering electric aviation company – and JetSuite, Inc., one of the largest private aviation companies, revealed a deal that would provide JetSuite with up to 100 of Zunum Aero’s hybrid-to-electric aircraft, slated for delivery in 2022.

Is Zunum Aero The “Tesla” Of The Private Aerospace Industry?

In many ways, this seems to be the case. Zunum Aero is using existing technology in novel ways, in order to disrupt the age-old industry of private aviation. There has not really been a revolution in the world of aviation for years – only a gradual evolution, as companies focus on more streamlined, economical, and comfortable private aircraft, and novel business models.

But Zunum Aero could change all of that. The Zunum aircraft is designed to seat up to 12 passengers, and uses a unique hybrid-electric model that dramatically drops fuel consumption, allowing for more inexpensive and economical service to regional hubs within 1000 miles of home airports.

In addition, § has said that the carbon footprint of the jet will be 80% lower than comparable chartered jets. Low emissions and noise will also allow the jets to cruise along more than 5,000 underused airports that are typically off-limits to charter craft, due to their proximity to residential areas.

Recently, Zunum Aero also revealed that their jets will have a maximum cruising speed of 340 mph, as well as a very low runway requirement of 2,200 feet for operation – ensuring that the craft can easily take off and land at smaller regional airports.

Ideally, airline companies using Zunum Aero flights will be able to offer both charter jets for regional routes, and may also be able to open up faster, regular service between popular regions of the country that are currently not accessed by air – such as flights from San Francisco to L.A.,

The First Zunum Aero Test Flights Begin In 2019 – Be On The Lookout For The Results

Zunum Aero is continuing to innovate, and is slated to begin test flights and other such tests in 2019. It remains to be seen how the technology will function in a real-world environment, but charter jet companies like JetSuite seem to be highly confident in Zunum Aero’s ability to deliver – and to refresh the aging, $1 trillion market for private and charter aircraft.

So keep an eye out for future developments, and information about Zunum Aero. The “Tesla of Aviation” is sure to make exciting moves in the future, and will continue to revolutionize the world of regional and charter air travel.

Jet Partners Makes The Inc. 5000 List of Fastest Growing Businesses

Inc 5000 Logo

This year, Jet Partners is part of the prestigious Inc. 5000 list of America’s fastest growing companies. Every year Inc. Magazine formulates a list of the 5000 fastest growing companies and publishes the results online and in a special edition of their printed publication.  Some of this year’s more well-known brands on the list include Fitbit, Planet Fitness and Smashburger.

The Inc. 500 annual listing was introduced in 1982 and expanded to the Inc. 5000 list of the fastest-growing privately held companies. Every company selected must provide Inc. with evidence of their yearly growth to get included.  Rankings are determined by the percentage of revenue growth over a four-year period. In order to qualify companies must show four full calendar years of sales and meet certain criteria.  They must be US based and privately held.  They also must be independent (not a subsidiary or division of another company) and have 1st-year revenue of at least $200,000; with the most recent year at least $2 million.

Inc 5000 Magazine Cover

Inc 5000 Fastest Growing Companies Issue

Inclusion on the list also earns companies an invite to the Inc. 500|5000 Conference and Award Ceremony.  The conference brings together the current year’s list “class” as well as alumni, notable speakers such as businessmen, politicians and entrepreneurs.  This year’s conference will take place in Orlando, FL.

You can view the full list on Inc.’s website athttp://www.inc.com/inc5000/list/2015/ and Jet Partners’ profile can be seen here: http://www.inc.com/profile/jet-partners

For more information you can contact Jet Partners a +1 (866) 235-2852 or email info@jetpartners.aero

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.

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.