, 2023-01-10 23:24:52
As we ended 2021, more than a dozen private jet providers had put their guaranteed availability, fixed-rate jet card and membership programs on hold, including Sentient Jet, inventor of the jet card and NetJets, the world’s largest operator of private jets, which declined to renew even existing customers. The move to stop or slow sales came as demand for private jet flights hit record levels and providers struggled to fulfill contracted flights.
Jet card, membership and fractional ownership programs typically guarantee customers aircraft at a fixed or capped hourly rate so long as they book a specified number of hours or days in advance. After operating in a market where since the 2008 Great Recession, there had been a surplus of jets available for charter, the demand surge put these providers in a bind, hence the moves to stop selling.
A year later, most of the major players who put their programs on hiatus are either back or have introduced offers that don’t offer pricing commitments to customers. For example, Vista Global’s XO eliminated its fixed-rate Elite Access membership while expanding its dynamic pricing offers. However, what’s true of all the private flight options is that more than ever, the devil is in the details, with…
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