Nothing says opulence and extravagance like a private jet. But, today, what was once a symbol of exclusivity is now evolving into a burgeoning industry, progressively becoming more attainable and, in some cases, environmentally conscious.
Explore some central questions surrounding the contemporary private jet landscape, and uncover the startups reshaping and propelling the industry forward.
Are Private Jets A Good Investment?
Private jets aren’t exactly famous for being the economising option. But because something is of great expense does not necessarily equate to it being an unsensible investment. So, what about private jets?
Of course, the answer cannot be as simple as a yes or no. After all, the viability of this decision hinges on a person’s financial means, specific travel needs, and long-term plans. Several questions will be imperative in this regard: Are the significant upfront financially viable? Will a private jet be needed not just now, but for years to come? Will the frequency and distance of travel be enough to justify the investment?
Only through a comprehensive consideration of such questions can a well-informed decision be reached.
Can You Start A Private Jet Business?
Considering launching a private jet charter business or intrigued by the journey of startups in this domain? Much like any other sector, startups in the private jet business must work from the ground up to become a lucrative business.
Initiating the process involves thorough market research to analyse the needs and demands of the market – a pivotal step in determining the viability of your plan. This will involve evaluating existing companies becomes crucial and identifying where they have failed and, subsequently, where you can succeed.
The next pivotal step is a business plan. Not only will this act as a roadmap of the venture but any potential investors seeking a slice of the action will want to see this.
Moving forward, clear-cut objectives and a clear pricing strategy will keep your business on track, while obtaining necessary licenses and certifications will guarantee regulatory compliance.
Once the groundwork is set, a fleet of private jets must be acquired. Each aircraft should be carefully designed for safety, and uniqueness, and to fill a specific market niche. To find these a home, collaborate with local airports and airfields.
Finding customers can be achieved through partnerships with travel agents, luxury service providers, and effective marketing strategies.
With these elements in place, your private jet charter business is poised for takeoff.
Founded in 2015, Lilium is a German aerospace company dedicated to developing sustainable, high-speed aircraft utilising first-of-its-kind electronic infrastructure to take off and land.
These state-of-the-art electric jet engines are driven by motors with zero emissions, addressing concerns over the environmental impact of private jets.
Moreover, the Lilium Jet can be adapted for a range of customers and uses. With spacious cabin arrangements and luxurious club seating, the Lilium jet is not only sleekly designed but dedicated to the zero-emissions market.
With Mirai Flights, customers can take flights all over the globe, even for some light European globetrotting.
Mirai aims to make private jet flights more accessible, offering both domestic and international flight options and an easy booking system. Customers can book a flight in no more than 5 minutes from over 1000 flight options – far quicker than booking through the commercial flight system.
The organisation’s ‘Empty Legs’ subscription service has been made accessible to all desiring customers, causing users to be notified of good flight options with discounts of up to 70%.
Mirai will also allocate customers a personal manager to assist with everything from hotel bookings to dining suggestions to yacht charter options.
Verijet aims to remove the hassle of a busy airport and offer customers a sleek and streamlined flying experience. Customers are treated to quick boarding, takeoff and flights at their local airport.
With top-rated pilots carefully chosen to ensure customer safety and happiness, Verijet is posing itself to become the “Uber of private point-to-point air travel”.
The organisation also has a pledge to lower its carbon and noise footprint, ensuring the airline is not only the fastest, safest and most efficient globally but also retains a strong focus on industry-wide sustainability.
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Set Jet is a little different, offering its services as part of a subscription-based platform available from $99.95 a month. Chartered flights cost anywhere upwards from $750 one-way, with bookings available as early as 4 months in advance to as late as an hour before takeoff.
Customers can enjoy a swift 20-minute check-in before flying in style with complimentary food and beverages on-flight in addition to top-tier Wi-Fi connections.
Hire a jet on your terms for the day with Jet It. This organisation prides itself on its comparative affordability and flexibility, 24/7 concierge service, and transparent flight rates and invoicing. Travel safely without interruption with top-rated pilots across the US, Canada and Europe.
Additionally, Jet It provides financial assistance and support to veterans needing support for life-saving medical procedures.
How Much Does a Private Jet Cost?
The million-dollar question, quite literally: How much do private jets cost?
Whether you’re contemplating buying one or opting for charter services from a startup, you’ll no doubt be pondering the answer to this question.
On average, the acquisition of a private jet can range from £1 million to £60 million, as reported by Air Charter.
For those considering charter options, the aforementioned companies will provide opportunities at different rates. Yet again, on average, chartering a private jet can cost between £6,000 to £60,000, depending on the type of jet and the duration of your charter.