FlyJets’ CEO, Jessica Fisher, told Business Insider that the startup doesn’t own or operate planes but works like an Airbnb for private aviation. Its core business is serving as a middleman between aircraft providers and customers to secure and schedule charters.
Within that is a cheaper alternative Fisher calls “fly empty,” which she said could cut the cost of charters by nearly half. It’s the latest way aviation companies are trying to make private flying more affordable.
Fisher said these charter aircraft might otherwise fly “empty legs” without passengers to return planes and crew to a home base after dropping off a client. Charter companies sometimes charge for a round trip regardless of whether anyone’s on board, so it’s cheaper to find another paying party for that empty leg of the journey.
This concept isn’t new. Several well-known private aviation companies, like VistaJet and NetJets, sell empty legs at a discount after someone else books a round-trip flight.
But Fisher said there’s no guarantee the legs will sell, and they’re typically predetermined routes, which means fewer options and flexibility for customers.
Fisher said that instead of taking other people’s empty legs, FlyJets fills empty planes by coordinating a trip as two separate legs from the start and splitting the price.
“There’s a lot we can do in terms of being very cost-effective for flyers and advantageous for aircraft providers in terms of aircraft utilization and, therefore, revenue,” Fisher said. “It’s a win-win.”
Fisher says flyers can save 40% on an ’empty-leg split’
Fisher said that FlyJets customers could create empty legs through a FlyJets+ membership, which costs $290 annually, and that flights are matched with another party flying the opposite route.
“If two parties need to fly between New York and Miami and they can commit to opposite legs, then they both save 40%, and the operator gets 10% more income from both parties,” she said, adding that flying fewer empty planes is better for the environment.
For example, Fisher said a seven-seater midsize plane could cost $25,000 round-trip for one party. But if FlyJets secures an “empty-leg split” for $15,000 in each direction, customers would pay about $2,100 a seat, and the aircraft provider could get $5,000 more.
Most fares for the same route on Delta Air Lines or United Airlines were $500 to $1,000 one-way through November.
Fisher said that when a match on the opposing route can’t be found, customers won’t get the “fly empty” price but can still book the plane outright at the market rate for the charter. She argued that this scenario would become less likely as FlyJets’ network of planes and customers grows.
She said the company also planned to launch a FlyJets Exchange tool this fall that would allow flyers to buy seats on existing trips booked by other members.
There’s a growing trend of affordable charters
FlyJets joins a growing list of companies offering more-affordable private air travel. The experience remains pricey, but travel experts say people are willing to splurge.
Oliver Bell, the cofounder of a luxury-travel company called Oliver’s Travels, told BI’s Mikhaila Friel in June that this trend could be partly attributed to “revenge travel,” where people are “willing to spend more for incredible experiences” after pandemic lockdowns.
People who shell out for private travel also save time. Charters are direct flights and typically operate out of small aircraft-service stations that require little or no security checks. This means customers can arrive within minutes of departure and avoid the airport-terminal crowds.
Take the semiprivate air carrier JSX, which offers flights across the US and Mexico on shared planes but with the perks of a private trip. Shorter flights, like Las Vegas to Burbank, California, cost about $275 one-way, while longer routes along the East Coast start at about $700.
KinectAir touts itself as a ride-sharing service for the sky. A CNN report in December said KinectAir sold short empty-leg repositioning flights across the US and offered lower prices — as low as $111 a person — by using cheaper piston and turboprop aircraft instead of jets. The catch is that the company can’t sell individual seats, so the flyer has to book the entire plane.
Of course, flying private “is by no means a ‘cheap’ way to fly, as it still will typically be more expensive than flying commercial,” Bell said. “But it is much more accessible than people think, which could be why we’re seeing an increase now that people are becoming more aware.”
Read the full article here
