CharterAuction has changed its name to Jets International, but its business model essentially remains the same. The broker combines the fixed-pricing approach that is common in the charter industry with a variable-pricing scheme tied to its auction service. As soon as Jets International establishes a maximum price for your flight, based on the point of departure, destination, and size of aircraft requested, operators bid on your business over the Internet, a process that you can watch if you wish.
Once you choose an aircraft, Jets International will send you detailed information about the operator, plane, and pilots. The pilots in Jets International’s network have an average of 9,900 hours of experience, an exceptional number for the charter business. Round-trip pricing ranges from $2,250 per hour for light jets to $5,200 per hour for large ones. Clients place a minimum of $100,000 in a Merrill Lynch account and deduct from it to cover the cost of flights; all cash in the account, with interest, may be withdrawn at any time.