Subject: No More Lines at the Airport: Charter a Private-Jet

From: "Private Jet Rental" <[email-masked]>
Date: Thu, 23 Jul 2015 10:48:35 -0700

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hours of flying per year ??? or 15 cross-country round-trip flights, or 30 flights from New York to Miami and back ??? would cost $8 million a year for five years plus membership dues and assorted fuel and flight costs. The Bombardier Global Express that VistaJet flies costs about $56 million. But often, the owners realize after the purchase just how expensive owning a jet that sits there can be. Mr. O???Leary, the president of Jet Advisors, said annual costs started at $750,000 for a smaller jet and can run over $4 million for larger, long-range planes. One of his customers just paid $9 million to refurbish the engines on a plane that is probably worth $12 million, he said. Like large yacht owners, jet owners may then look for help in offsetting the costs. Of the 40 jets in Avjet???s charter fleet, 38 are owned by individuals, many of whom work in the entertainment industry, Mr. Lefever said. ???The majority of these guys use it 150 to 200 hours a year, so their planes are und
erutilized,??? Mr. Lefever said. ???We can lower their operating costs by $1 million instead of having the plane just sit there.??? But as he tells his clients who wonder if the jet was a good purchase, ???You own a 20,000 square-foot house in Bel Air. Did you need that space???? When they say no, he tells them: ???The airplane is the same thing. Buy it because you can afford it and you want it.??? Here's the scenario: The business meet wraps up in Boston, now an urgent situation is developing in Los Angeles. A quick check of flight schedules reveals there's a premium-rate business-class seat available. However, the flight doesn't depart until first thing tomorrow. But hang on, there's another option. A private jet, leaving when you want it to leave. And it's cheaper too. Seriously. In the wake of Uber's shake-up of the taxi market and AirBnB's impact on accommodations, that most exclusive industry of all, executive aviation, could soon be disrupted in the same way. So does that me
an that ordinary business travelers could soon be switching to low-cost private aircraft in the same way they've been switching to cheaper, convenient cabs across town? Some aviation entrepreneurs think so. They're creating simple, sleek mobile apps to optimize spare capacity in the private jet market and create a smooth booking experience. Obviously private aviation isn't going to be for the masses, but what if this exclusive preserve of the super-rich is about to become accessible to the merely affluent -- those that today fill the front cabin section of commercial aircraft?
Instead of calling a broker or buying into shared exec jet ownership, these new apps allow travelers to secure a private aircraft with just a few clicks and no membership fees. Online marketplaces like Jetsmarter, Victor or Ubair rely on complex predictive algorithms to aggregate aircraft availability data from hundreds of private jet operators and provide quotes within seconds. Cheaper than driving? "We are a high tech big data company at core," says Sergey Petrossov, Jetsmarter's founder, adding that most of his company's clients are newcomers to executive aviation. Petrossov sees a future where the executive jet industry goes the way of the Uber-reshaped taxi market. He believes apps could even become so efficient that prices drop to the point where private aircraft not only take business from traditional operators and airlines, but from road transport. Fleets of small propeller aircraft could lure people away from cars and into the skies Richard Koe, managing director of aviation
market intelligence consultancy WINGX, is more cautious. Yes, some new players are streamlining the booking process, he says, but that might not be enough to bring prices down to levels that'll open up private flights to greater numbers. Empty-leg solutions Koe instead thinks the online players might simply end up taking business from traditional brokers rather than disrupt the industry's structure. They could, however, offer an efficient solution to the problem of so-called empty legs. These happen when private jets fly without passengers as operators reposition them. According to some industry estimates, empty legs account for more than a third of all private flights Jetsuite, a light-jet operator based in California, pioneered discounted online sales of empty legs and others have followed suit. Jetsmarter even offers empty legs for free to clients signing up for its optional membership plan. There's a major drawback though. The rigid and unpredictable nature of empty legs does
n't really suit