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Private Jets and Business Aircraft

Private Jet

With the well documented issues in commercial flying more and more people have found reasons to turn to private aircraft.

There are a variety of options to consider. The starting point is how often you want to fly privately.

If you only fly a few hours a year then on demand aircraft charter is probably the best way to go. As your number of hours of private flying increases look at charter cards and fractional cards.

Once you reach about 50 hours of flying a year then fractional aircraft ownership can start to make sense and above 300 or so hours per year whole ownership is worth looking into. Here is some core information to help you understand the options.

All of the major providers have expanded over the last few years. Many now offer a wide range of products and solutions to meet the needs of various clients. If you're looking at the different options and would like a good general overview then download our free Guide to Private Aviation, which includes details on charter, jet cards and fractional ownership. For detailed side by side comparisons of the leading jet card and fractional providers, a directory of charter operators, and our Aircraft Buying Guide then sign up for membership. 

The latest news and research on private jets and aircraft is included below.

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VeriJet is a relatively new player in the private air charter market, but it’s carving out an interesting niche. As the largest operator of the low-cost Cirrus SF50 Vision Jet the firm is expanding across the USA. SherpaReport talked to CEO Richard Kane about the company, the plane, charter services and growth. Since starting in 2020 with a fleet of six Cirrus SF50 Vision Jets, Verijet has grown rapidly and hopes to eventually have a fleet of 130 or more aircraft.

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In October 2022, private aviation company Flexjet had announced plans that it intended to become a public company, through a merger with the special purpose acquisition company (SPAC) Horizon Acquisition Corp II. The two companies just agreed to terminate this arrangement and as a result of the termination, Flexjet will remain a private company.

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AirSprint is Canada's largest fractional jet operator and North America's fourth largest, logging 27,333 flight hours according to ARGUS TraqPak data. The company saw 43% growth from 2021 to 2022 and has significantly added to its fleet over the last few years. SherpaReport spoke to AirSprint's President and CEO, James Elian, about the recent growth and plans for the future.

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Private Jet Company Volato achieved total sales of over $103 million in 2022, its first full year of operations, a 627% increase over its 2021 results. The Hondajet operator now offers a full suite of private aviation programs which have been rolled out over the last year. SherpaReport spoke to CEO and co-founder Matt Liotta.

A hundred million dollars of revenue in your first complete year is impressive for any business. So, we were curious to find out what Matt Liotta attributed this success to.

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One of the largest private aviation providers, Wheels Up, had revenue of $1.6bn in 2022, up 32% from 2021. The number of “Active Members” grew 5% to 12,661 but the net loss also increased significantly. The company says it is now focused on profitability after many years of rapid growth.

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Fractional aircraft flights reached a new record level in 2022, with hours flown growing even more than charter flights or wholly owned flights, according to data from ARGUS TRAQPak. These figures confirm the trend of significant growth across the whole of private aviation in the last two years.

We expect the next 12 months will continue to be very busy for the fractional market. The reasons are multifaceted, but key trends for increased activity relate to a wider variety of aircraft, shorter wait times to gain access to fractional ownership, a more favorable buyer’s market, flexible structures, and an increased focus on sustainability.

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flyExclusive, a leading provider of private jet charter and jet cards, has introduced Platinum Jet Club. This new option allows members to access a completely fixed price program on light, mid size and super-mid size jets, with hourly and daily fees locked for 12 months.

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Fractional jet provider Volato is offering a new structure for potential HondaJet owners. Share buyers can choose to pay no monthly management fees and instead pay a higher hourly usage charge.

This no monthly management fee program is designed for owners who fly infrequently but require guaranteed availability when they do fly, while also desiring the full benefits of aircraft ownership.

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Private aviation provider Magellan Jets expanded its portfolio of private aviation solutions in 2022. Among other initiatives, they launched a new aircraft sales & management division, moved to a new corporate headquarters with a new flight operations center, and recently opened the company’s first private jet terminal. As a result, the company grew gross revenue to a total of $120 million last year and is projecting $140 million for 2023.

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The fractional aircraft operators in North America flew over 833,000 hours in 2022. This was an increase of more than 7% compared to 2021, and up about 65% compared to the reduced pandemic levels in 2020. The largest fractional operators, including operators of both jets and turboprops, are ranked and discussed below.

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Sentient Jet, one of the largest jet card providers, recently introduced its newest 2023 Exclusive Benefits Guide – the 10th anniversary edition. The Guide provides a wide collection of offerings available from strategic partner brands in hospitality and hotels, unique events, luxury shopping, gourmet experiences and more.

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Worldwide private aviation group Vista Global Holding’s (Vista) had a record year in 2022, with revenue growth of more than 50%. The group also completed several investments and acquisitions including expanding their fleet to over 360 aircraft around the world.

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The largest business aviation operators in 2022, together with their flight hours for 2022 and 2021 are listed and discussed below - the data is courtesy of ARGUS. The list is a mix of fractional operators and charter operators.

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The overall number of business aviation private flights was up 5% in 2022, compared to 2021, to reach a new record level. There was growth in all categories from Part 91 whole ownership, to Part 135 charter and Part 91k fractional ownership. 

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Private aviation provider Magellan Jets is launching a new aircraft sales & management division which will assist prospective and current aircraft owners with the purchase, management, and optimization of their assets. Magellan has also opened their first private jet terminal, at Laurence G. Hanscom Field in Bedford, Massachusetts—Magellan’s home-base airport.

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The feud between the Elon Musk and the student Jack Sweeney, has received a lot of publicity. Sweeney runs various @elonjet social media accounts, that report on the flights and locations of Elon Musk’s Gulfstream jet. Sweeney also tracks other celebrity aircraft. So, what are the options for Elon Musk or anyone else who doesn’t want to be tracked while flying in a private jet?

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One of the leading innovators in the private aviation sector, and the originator of the jet card, Sentient Jet is forecasting revenues of $460m for 2022. Helping this growth is the trend towards more digital reservations, that the company is seeing as it rolls out more booking options for clients. SherpaReport talked to Andrew Collins, CEO of Sentient Jet about this growth and these recent trends.

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Four Corners Aviation offers a novel program for companies that fly over 200 hours a year and want access to a corporate aircraft. The program really works for organizations that recognize the value of private aviation but that don’t want the upfront capital expenditure of owning an aircraft, or want to keep a plane off the corporate balance sheet. It offers the financial surety of a fixed monthly fee, rather than varying monthly expense costs.

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Fractional jet and jet card provider Volato has ordered another 25 HondaJets. This new order will bring the total fleet to over 40 of these light jets. The new order is for the latest HondaJet Elite II.

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NetJets, the largest private aviation company, is the fleet launch customer for Bombardier’s Global 8000 jet, with a firm order for four aircraft and conversion of eight existing orders.

The new firm order for four Global 8000 aircraft is valued at $312 million dollars based on 2022 list prices.

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As 2022 draws to an end, aviation companies are once again releasing their industry forecasts for sales of new business aircraft. We look at insights from manufacturer Honeywell and analysts at JETNET iQ to see how ongoing economic, social, and political factors may play a part in the market for new business jets.

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Kansas City based private aviation operator Airshare has seen significant growth over the last few years. It is phasing out the smaller Phenom 100s, adding super-mid Challenger 350s and increasing its managed fleet. SherpaReport spoke to CEO John Owen about all the developments.

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