Agreement Expands Companies’ Existing Partnership and Provides Increased Revenue Opportunities and Convenient Charter Product Offerings
LOS ANGELES (November 2, 2016)—Jet Edge International, a leading large-cabin private jet management and charter operator, announced today that the company will enter into a multi-year, $200 million supplier agreement with JetSmarter, the world’s leading ride-sharing and charter partner. The new agreement follows JetSmarter’s $350 million commitment to Jet Edge announced earlier this year.
As JetSmarter’s largest partner, Jet Edge currently supplies charter lift for JetSmarter’s core service offerings, including a popular new option called “shared charter” as part of the JetShuttle program. With this offering, members are able to build custom shuttle flights between numerous locations including New York, Florida, California, Boston, Washington D.C., Atlanta, Dallas, Chicago and more, on their own timeline and route while offsetting their flight costs by monetizing empty seats on the aircraft.
“JetSmarter has grown exponentially over the past year and we are able to continue to provide our members with great service with Jet Edge, one of JetSmarter’s many aviation partners,” said Sergey Petrossov, chief executive officer, JetSmarter. “We are excited to strengthen our presence and continue to provide members with more convenient travel options than ever before.”
“Because the ridesharing market is an emerging industry segment with superior growth potential, we have decided to invest early in this model alongside JetSmarter,” said Bill Papariella, chief executive officer, Jet Edge International. “This expanded agreement provides significant and predictable revenue for our current fleet aircraft owners and enables us to create enticing aircraft management products and offerings completely unique to Jet Edge.”
This year, ridesharing and shuttle services on the Jet Edge charter fleet has yielded a 40 percent increase in utilization. Forecasts for charter utilization across the company’s fleet now top 15,000 hours annually and are expected to increase as JetSmarter’s shuttle routes and service offerings are expanded.
JetSmarter, the world’s largest mobile marketplace for private jets, has created a new class of air travel that is able to offer both custom charters and unused seats across thousands of flights. By fundamentally rewiring the marketplace, JetSmarter has lowered the entry cost into the private aviation market, making it more available to travelers around the world, and a true disruptor in the space. Its technology and efficient platform – driven by algorithms, artificial intelligence and mobile distribution – optimizes inventory to drive down prices, create availability, and gives JetSmarter the resources to continue to grow U.S. and globally. The JetSmarter app is available for iOS and Android. For more information, please visit www.JetSmarter.com.
About Jet Edge International
Jet Edge International is a leader in full-service global private aviation. As an integrated large-cabin management operator and maintenance provider, Jet Edge services aircraft owners with a world-class operational platform and extends individual clients and corporations 365-day-a-year access to one of the most diverse and luxurious aircraft fleets in the world. Backed by unparalleled award-winning safety programs and overseen by a leadership team with wide-ranging experience in commercial and private aviation operations and management, Jet Edge delivers excellence in aircraft management, charter management, on-demand charter, aircraft sales, and maintenance. More information can be found at www.flyjetedge.com.