Much like marriage, owning a private jet can be highly rewarding, but the relationship requires a commitment that can be time-consuming and costly. Unlike matrimony, however, a personal aircraft’s upkeep can now be parceled out to a third party—and for a profit—thanks to JetSuite’s Aircraft Management Program.
JetSuite’s new multi-tiered plan provides jet owners with three different partnership strategies with the company, each providing symbiotic benefits. “The concept came from a desire to have supply for our variable levels of demand,” says Alex Wilcox, JetSuite’s chief executive officer. “We recognize that different owners have different demands for control over availability of their own aircraft.”
The RedStripe option was designed for owners who are less than frequent flyers and prefer to give priority to JetSuite members. In return, Jetsuite takes responsibility for all fixed operational and maintenance expenses, such as crew and insurance costs. Owners have more limited access, as their flights have to be scheduled well in advance.
With GreyStripe, owners are responsible for maintenance (as compliant with regulations) and offer up their planes at their own convenience. JetSuite will then provide the crew, pick up the aircraft, and deliver it back within the prescribed timeframe—although not for the owner’s personal travel.
The third plan, WhiteStripe, gives the owner full control over aircraft availability while JetSuite manages all aspects of maintenance and operation.
The new program was developed to ease the burden on those possessing private jets, while better addressing the needs of JetSuite’s SuitKey members. The latter pay a minimum of $25,000 for a flexible and refundable pre-paid account for flights. Membership also affords greater privileges, including longer booking windows, discounts, and the ability to earn bonus credits.
“We expect this to dramatically increase the availability of aircraft to or SuiteKey club, especially on busy and peak days,” says Wilcox. “It’s a win for the aircraft owner, a win for JetSuite, and a win for our members.”
Regardless of the tier chosen, owners will receive a percentage of the revenue from every flight. JetSuite’s Aircraft Management Program is applicable to jets that match its current fleet of Phenom 100s and 300s, as well as Embraer Legacy 600s and 650s—all of which are reciprocally available to owners.