Several private jet companies are facing uncertain financial futures. Here’s why Elite Jets is a safe investment in these uncertain times
Recent headlines across the private jet charter industry paint a picture of several prominent companies in deep financial trouble.
There is Wheels Up, whose founder and CEO recently resigned amid mounting financial losses. Global company Vista Jet’s “debt-fueled ascent” is chronicled in an extensive report by the Financial Times. Sarasota, Florida-based AeroVanti is facing a pair of federal lawsuits alleging fraud in its membership plan. Operator Jet It, which sells “fractional” shares of flight time by the hour, shut down completely in May 2023.
Taken as a whole, these reports could sound an alarm about the long-term viability of a business that surged in popularity amid the COVID-19 pandemic. Crucially, though, there are key differences in Elite Jets’ business model that sets it apart from the competition. Those differences are grounded in Elite Jets’ commitment to safety, training, fiscal stability and superior customer service.
The Elite Jets difference
The business model that most fractional “jet card” companies rely upon is fundamentally risky, says Stephen Myers , Elite Jets’ Executive VP.
“They’re taking in income to support future flights,” he says, describing a deferred revenue model in which such funds can be diverted to short-term operating costs and other immediate expenses. “Will that money still be there when it’s time to travel?”
Rather than sell fractional shares of time in the air, Elite Jets only asks customers to pay for flights at the time of travel. Payments cover the cost of equipment, fuel, pilot and support staff salaries, and other direct expenses. What won’t those payments cover? Maintenance of grounded jets in which you will never set foot.
Safety at the forefront
Our commitment to safety is at the forefront of everything Elite Jets does. That singular focus has earned numerous notes of industry acclaim.
In April 2023, Elite Jets earned the coveted “Wingman status” from global air safety auditor WYVERN. The Wingman standard is the first air charter audit standard in the aviation industry. To earn the designation, charter companies must undergo a comprehensive audit that includes a full review of the company’s operational history, safety records and more.
In addition, Elite Jets also is a platinum-rated charter through ARGUS and maintains a Stage 2 Seal through International Standard for Business Aircraft Operations (ISBAO). Both designations rank Elite Jets among the top 5% of charter services in the country.
“Safety has been our focus from day one,” Myers continues. “That goes well beyond the mechanical side to also include training programs, cleaning protocol, documentation and adherence to best practices in the aviation industry. We’re not just meeting safety standards; as an organization, it is in our DNA.”
Revenue, customer growth
By any measure, Elite Jets’ consistently favorable financial performance makes it the preferred choice for business and leisure travelers alike.
Elite Jets’ year-over-year revenue growth remains on the upswing, with 2022 income nearly 30% higher than 2021 (and nearly triple revenue from 2020). The number of new customers grows each month, and our monthly air traffic consistently exceeds historical industry averages.
“Elite Jets’ customers can rest easy knowing that their payments won’t be used to run the business or prop up future travel purchased speculatively,” Myers says. “Our commitment to this community and our customers has not wavered, and we look forward to serving Naples, greater Southwest Florida and our many destinations for years and years to come.”
The future is now: book your Elite Jets travel now
For Peter Boyd, who joined Elite Jets in June 2023, the future is now.
As director of aircraft management, he oversees a new branch of Elite Jets focused on growing the company through aircraft acquisition. Elite Jets currently has a fleet of four Embraer Phenom 300s, one Embraer Legacy 500 and a Bell 407 helicopter. It also provides management services for a Gulfstream G550 jet.
“Thanks to our business model, our company is extraordinarily well-positioned to remain fiscally sound,” Boyd says. “For those whose experiences with other service providers have been less than favorable, whether as private jet owners or passengers, I invited them to explore the Elite Jets difference.”
Here’s how to get in touch with Elite Jets:
Website: Online Request