In 2020, COVID-19 prompted many of those on the fence about private aviation to give it a try. Conventional wisdom in private aviation has long been that if one has the means to enjoy the level of freedom private travel allows – and tries it once – they will do it again. Last December, our company entered into a purchase agreement with HondaJet for the first aircraft in a multi-aircraft deal and further announced that we would collaborate in marketing efforts to create joint promotion of the HondaJet Elite and the Jet Token brand.
The HondaJet is a technological marvel ideally suited to the average US mission profile (one to three passengers traveling 1.5 hours). By getting the engines off the tail and onto the wings, HondaJet engineers reduced cabin noise and created room for both a fully enclosed lavatory and a larger cargo bay. It’s a delight to fly on the HondaJet, compared to travel on slower, louder, cramped competitors.
Our fractional ownership program offers greater peace of mind from start to finish over a five-year term than any other we have seen. We price it right at initial buy-in, offer attractive tax characteristics, no monthly management fee and a simple quarterly invoice. At the end of the five-year life of the program, we offer a guaranteed aircraft buyout and go to market on your behalf to achieve a sale price that may exceed even the value of the guarantee. No surprises, just a young fleet, personalised service, and program designed to put your peace of mind first.
With many first-time buyers wanting to fly privately due to COVID-19, it makes sense for new clients to become educated first on finding the best solution to fit their specific needs. Would you rent a car, lease a car or buy a car? No one rents a car for a year because the cost per mile would be too high, and so it goes with aircraft cost per hour. First, go charter a jet, then buy a 25-hour one-year card – and then step up to a 75 hour per year fraction on a five-year term. What if you need a jet 10 days a year but worry about running through a 25-hour card? We have a program for that too. Still need more lift? Now, it would be time to talk about whole aircraft ownership. For an easy start go to the Jet Token app in either the iOS store or the Google Play Store.
So you avoided buying an aircraft too quickly, but what if you overbought your fractional or jet card time? Circumstances change more quickly than is commonly recognised. What if your travel needs change after your purchase and you actually require less time? Expirations of un-flown time are painful for the customer and undesirable for the operator who may lose a valuable relationship for the smallest of gains. At Jet Token, thanks to years of planning and technology development we are pleased to be the first to offer our customers a program that permits us to resell your time on your behalf.
We are focused on enhancing our client’s overall travel experience both on and off the aircraft and Jet Token has launched a premium service program called PEARL®. Existing fractional and jet card members who join PEARL® are guaranteed travel on aircraft aged three years or less, granted access to the pet program and invited to participate VIP events. The company recently welcomed top ranked WTA tennis star Sofia Kenin as a brand ambassador.
The name on the door is Jet Token, and soon we’ll have more to say about the prospective advantages the blockchain has to offer our customers. For now, we have implemented a blockchain friendly payment capability, inviting those who have created over a trillion dollars in wealth in the past decade to fly how they want to fly by paying how they want to pay.
While allocating the majority of our time and attention to continuing to build the most competitive and innovative offering in the light jet category, we nonetheless recognise that even with a permanent shift right in the demand curve for private aviation – commercial aviation will eventually rebound. We believe that every person hopes to see a rebound in commercial aviation because that rebound would mean that many other facets of life would have returned to normal across the world. With this in mind, and as blockchain continues to mature in private jet transactions, one of our key initiatives remains the upgrade of our app to combine a private and a commercial booking on the same itinerary. In the end, everything we do revolves around putting the customer’s peace of mind first.