Private Jet Charter News

[caption id=“attachment_339” align=“alignright” width=“300” caption=“No Dough, No Go”][/caption]JetDirect Aviation, the company that went on a wild acquisition spree in 2007 - snapping up big league companies such as Sentient Jet and Jet Corp - has filed a Chapter 7 bankruptcy petition with the U.S. Bankruptcy Court in Delaware on Friday 5/8. 

Recently, JetDriect Aviation has sold all of its assets to the JetDirect Aviation Acquisition Company now known as Wayfarer Aviation.  The new company has hired roughly half of the former employees back on, but the remainder of those left jobless are still owed unpaid salaries and benefits.

For many months after the acquisition of Sentient Jet, there were internal industry rumblings from charter operators who had flown charters for Sentient but were having a hard time getting paid.  The problem, as JetDirect/Sentient put it, was in reconciling several accouting systems causing delays in processing payments.  While the era of a JetDirect controlled Sentient Jet has ended, it serves to underscore that explosive growth for its own sake (espeically in a volitile and unsteady economic climate) can often lead to this kind of “house of cards” collapse. 

As an industry veteran and firsthand witness to a similar collapse in 2002 of a substantial charter agent, I am always cautions when dealing with a company that grows very rapidly in compressed period of time.  Flashy marketing and good PR, do not, a solid company, make.  In every industry, but particularly in Aviation, a strong foundation comprised of forward-looking leadership, smart management, loyal employees, and a steady but not-rushed expansion plan is essential to corporate survival.  There is an old phrase about the aviation industry - “If you want to wind up with one million bucks in this job, you’d better start with two.”

from NBAA - No Plane No Gain campaign:

The people and companies that rely on Private Air Charter know that utilizing a private jet is a valuable strategic choice, particularly in an unforgiving economic and political climate.  However, those outside of the business aviation community are often unaware of the benefits that chartering a private jet can provide.  When reviewing your air travel choices, use this checklist to see why using private jet charter is the best option for your mission.

 This flight absolutely cannot be canceled or delayed significantly.
 The destination is not easily served by commercial airline service.
 Need the ability to work and communicate aboard the flight.
 Proprietary information will be discussed aboard the flight.
 Need the ability to visit several cities in one day.
 Need the flexibility to allow for changes in the itinerary.
 Carrying specialized parts/equipment

If you’ve found yourself agreeing with these statements, you will want to investigate chartering a private jet for your travel needs.  In many cases, particularly with several passengers going to the same destination, a private aircraft can be as cost-effective as utilizing commercial airlines.