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Sunday, June 04, 2023

Jet Card News

The latest news about jet cards and jet card providers. If you are comparing jet cards, jet memberships and the providers, then access the detailed comparison on the right.

The newly public Wheels Up (NYSE:UP) recently announced results for the second quarter, which ended June 30, 2021. The highlights show revenue increased 113% year-over-year to $285.6 million, live flight legs increased 146% year-over-year to 18,234 and active members grew 47% year-over-year to 10,515 in total.

NetJets says its owners are traveling more than ever and that “flight volume is at a record high.” At the same time, it has “exhausted the production capacity of some OEM partners”, so it is stopping sales of new jet cards on the Citation XLS and Phenom 300 – the smallest planes in its fleet.

Air Partner plc has reported strong growth in its JetCard product, driven by US activity. The company says bookings, members and customer deposits are up globally as travel restrictions ease.

Jet Card holders may fly on aircraft certified under either (FAA) part 135 charter or part 91k fractional regulations. The aviation services company ARGUS released numbers for the largest part 135 charter operators and the largest fractional aircraft operators. Here’s a discussion of the largest card providers.

Jet card providers NetJets and Flexjet have both expressed interest in the Aerion AS2 supersonic business jet. Flexjet placed an order for 20 of the aircraft back in 2015 and NetJets recently obtained purchase rights for 20 planes.

Sentient Jet, the inventor of jet cards, achieved 60% year over year growth and ended 2020 with $450 million in jet card sales. As with most other private aviation companies, Sentient saw a large influx of new customers who want to travel but are keen to avoid commercial aviation during the pandemic. In 2020 Sentient Jet saw 2/3 of its jet card purchases come from new clients compared to only 1/3 pre-COVID.

During 2020, the global business aviation company VistaJet saw an increase of 29% in new subscription memberships year-on-year. This is VistaJet’s equivalent of a jet card product offering fixed hourly rates.

The 2021 Super Bowl sees two superstars face each other who are both signed to endorse private aviation companies. Patrick Mahomes, quarterback for the Kansas City Chiefs is partnered with Airshare and Tom Brady of the Tampa Bay Buccaneers has teamed with Wheels Up.

Private aviation firm Wheels Up is going public via a merger with special purpose acquisition company (SPAC), Aspirational Consumer Lifestyle Corp. The transaction gives Wheels Up an enterprise value of $2.1 billion. Once the transaction is completed, the company will be listed on the New York Stock Exchange under the symbol "UP".

Under the CARES Act there is no 7.5% federal excise taxes (FET) on jet cards and jet charter flights purchased before Dec. 31, 2020. This means you can potentially pay for a jet card in 2020 and travel FET free in 2021 and beyond. This article includes some of the leading companies who are offering FET free jet cards for future travel.

Wheels Up has just acquired Mountain Aviation, which has the largest and growing Part 135-operated Citation X fleet in the United States, with bases in Denver, Teterboro, and Southern California.

Private aviation magazine Business Jet Traveller conducts an annual reader survey that they call “Readers Choice”. In 2020 they had close to 2,000 respondents who gave their ratings on charter and jet card providers and membership clubs, with enough data to rank 11 of the largest providers.