Neeleman and Acadia buy JetSuite
David Neeleman and Arcadia Partners have bought Phenom 100 operator JetSuite.
JetSuite will use the new investment to buy five new Phenom 100s.
Neeleman, is arguably the most successful airline entrepreneur ever; having successfully launched US carriers JetBlue and Morris Air, Canada’s WestJet and Brazilian airline Azul.
“The private jet market has been broken for some time, loaded with unnecessary expense, poor asset utilization and low return on capital, despite the exorbitant costs to its users,” said David Neeleman. “I believe JetSuite will be able to deploy its uniform fleet efficiently, following some of the basic rules of low cost carriers, to deliver the availability and low price points that are going to open the industry to large numbers of new corporations, resorts and individuals.”
When the five aircraft are delivered, and leases are closed on two further aircraft, JetSuite will have a fleet of 12 Phenom 100s. It says the aircraft will partly be used to expand into Texas.
“After seven months of charter operations, we are happy to report that our clients love our crews, our service, our value and our Phenoms. We are doubling the fleet to satisfy our ever-growing customer base,” said Alex Wilcox, CEO of JetSuite and a former JetBlue manager. “I am gratified that the JetSuite business model has captured David Neeleman’s and Acadia Woods’ imagination, and that they share our vision of making private jet travel far more efficient and more affordable than ever before.”
JetSuite offers charter and jet card programmes.