Read on to discover investment opportunities with Supreme Jets
20 May 2019
There's no shortage of companies in the private aviation industry claiming to be the Uber of private jets. Google it, and the resulting offers are as bewildering as the airspace above Heathrow. One of the final frontiers of the so-called 'sharing economy' (think Airbnb, Uber, Kickstarter etc), private jet hire has been relatively slow to develop for a variety of reasons. Stringent regulations and international cabotage laws make the accessibility of private jets a serious consideration and investment, rather than a carefree tap of the thumb on an app. There's also the shortage of pilots and the issue of owner approval – the vast majority of private aircrafts available for the charter market are owned by wealthy individuals or their companies. The owners hire management companies to operate the jets and then make them available for charter when they aren’t using them. While some owners are “charter-friendly” others understandably want to know who will be flying on their plane before they make them available.
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Before you think private jet hire is something of an impossibility, however, think again. The private jet market is actually larger than what most people think. There are over 39,000 private aircraft worldwide meaning fleets of world-renowned airlines like Delta (1,273), United (1,242) and American (869) Airlines pales into insignificance. Fleet-wise, therefore, there is unrivalled flexibility and choice. Whether it's a top of the range long-distance jet like the Gulfstream G650 (priced at a cool $65 million) or a short-haul jet like the Citation Mustang, your journey and budget dictate what you fly in.
CEO Tola Bashir founded Supreme Jets in 2017 to disrupt the elite private aviation industry, opening it up to a wider audience. "We have brought “uber-like” ease to this elite and formerly complex market, accessing the worldwide jet network, whether you are booking in advance or on a short notice whim, in many cases allowing your jet to be airborne within three hours," he explains. "Prices in many cases will come down dramatically, as Supreme Jets has access to so-called ‘empty leg’ flights – the ability to book one-way trips on jets that would otherwise return empty from their original outward bound flights." This is good news for both customers and jet providers, offering extra revenue from flights that would otherwise return empty.
Whilst a typical private chartered flight from London to New York will set you back around £64,000 on a Falcon 2000, an 'empty leg' flight can result in up to 80 per cent reductions compared to original costs. Supreme Jets say they can offer a London to Paris seat on a private jet from £179, meaning you can splurge on a breakfast meeting at Claridge's, and grab a jet for dinner at Le Grand Véfour.
What is an 'empty leg' flight?
Travelling by private jet might be easier, and more affordable, than you think. An empty leg, also known as an empty sector, is the return portion of a booked one-way private charter flight. The aircraft needs to fly empty to reposition itself for its next customer or to return to its home base. Just as a taxi would often need to do on the ground. Of course, this means a certain amount of flexibility and foresight on behalf of the traveller but if that means skipping queues and travelling in luxury, the advantages far outweigh the slight drawbacks. For those whom money is no object, Supreme Jets still offers fully chartered bookings across a range of jets, with business chartered jets being particularly popular amongst high-flying CEOs wanting to entertain clients.
Soaring Horizons: investment opportunities with Supreme Jets
As the business looks to expand and develop its smartphone app, the core vision remains the same: to offer users instant booking on private jets (or seats on private jets), to be airborne within three hours, and the opportunity to bid on seats within the Supreme Jets community. With a current valuation in excess of £7.5 million, Supreme Jets have recently been granted Advance Assurance from Her Majesty’s Revenue & Customs through the Seed / Enterprise Investment Scheme. With benefits including discounted private jet flights, generous tax relief from Her Majesty’s Revenue & Customs and two dividends per year and complimentary concierge service, the runway ahead looks clear for take-off.
London to Cannes on a private jet? It's easier than you think