JetSmarter – disrupting business aviation
Petrossov did not mince his words. Jet sharing was, until recently, a service that even customers did not know they wanted.
Today, in terms of passenger numbers, JetSmarter ranks as the world’s second largest private aviation company, flying more than 115,000 people last year. Petrossov reckons it could become the largest.
Current private-jet loads are below 25%, JetSmarter is looking to change this by capitalising on jet sharing. It offers a cheaper rate than that of standard charter flights on shared private jet flights. With a typical charter flight from London to New York on a heavy jet costing around $80,000, a JetSmarter share flight will cost $30,000.
Initial reactions to the idea were negative. When the company was pitching ideas to owners, more than 80% of people approached said they would not share a private jet. Not deterred by these results, Petrossov and his colleagues persisted, asking people their main reasons for flying private – they, in turn, replied time savings and the lack of commercial airports.
“JetSmarter was a service customers did not know they wanted.” .
Now JetSmarter flies 65 round trips a week and it is growing rapidly. It is looking to expanding into Asia and South America, but it will be very expensive move. Petrossov said the company would look to partner with another to make that global expansion happen.
Sergey rounded off the session with a bold statement: “If you do not incorporate jet sharing into your business model, there is a good chance of your business becoming obsolete.”