Jet Edge grows point-to-point fleet as demand for one-way rises
Jet Edge International continues to grow its point-to-point fleet to meet demand from both aircraft owners and charter customers. The company’s overall fleet has grown to more than 85 aircraft.
The US operator’s floating fleet now consists of refurbished Gulfstream GIV-SP and GV aircraft and Bombardier super-mid Challenger 300 and Challenger 350 aircraft. The company now operates the largest combined super-mid and heavy jet on-demand charter fleet in the US.
“We’ve developed a platform that allows aircraft owners to generate revenue during both stable and turbulent market conditions – the pandemic has proven that,” says Bill Papariella, CEO, Jet Edge International. “The one-way travel trend that has been trending for years has only been accelerated by Covid-19. Our platform has created a vehicle for aircraft owners to participate in that market, while also allowing us to deliver an institutional charter product for the charter community.”
Jet Edge has added new refurbished custom interiors to their point-to-point Gulfstream fleet, making the fleet more contemporary. The new GIV-SP cabins have intricate diamond-stitched leather seats (below) reminiscent of the interior of a Bentley for example. Unlike most floating fleets, it does not brand the outside of aircraft – which makes the aircraft more attractive to charter brokers and other operators buying charter.
“Our customers and our wholesale charter partners – and they really are partners – appreciate that we have the leading aircraft types in each category. The refurbishment of the fleet will allow us to deliver a product that will continue to stand out in the marketplace,” says Jonah Adler, chief commercial and marketing officer. “Our partners’ performance since the launch of this fleet almost 18 months ago has been an important part of this programme’s continued success.”
In addition to the continued growth of the point-to-point programme, Jet Edge has introduced an innovative new revenue sharing programme with all aircraft owners. Most aircraft management companies only give a percentage of the flight-related charter revenue – but not on other operational revenue buckets. Jet Edge shares a percentage of all revenue and shows all of the costs involved.
“This may affect our margin, but it is worth it to simplify the business in a very big way,” says Papariella. “Owners appreciate the transparency and sharing all revenue means that everyone is completely aligned. We saw how well it worked at JetSelect Aviation [which Jet Edge acquired in January 2020] and have been delighted with how it has been received by Jet Edge aircraft owners.”