Crosscurrents 08-09

High jet fuel costs have been forcing many commercial airlines to trim back their fleet of smaller aircraft and cut services to many cities nationwide, creating a window of opportunity for jet charter agencies to fill the gap. While many major commercial airlines have been alienating their customers with steep ticket prices, hidden fees, poor service, and atrocious lines and harassing security measures to boot, smaller charter jet companies have been rushing to fill the gap with innovative business solutions and reaching out to a new client base: business class customers.

Although chartering a private jet has long been held as an expensive status symbol for the super rich, the economic realities of the post-recession world have forced many luxury jet agencies to think outside of the box and find innovative new ways to increase their revenue. This has been particularly important for the airline industry in light of skyrocketing fuel prices, which rose from $.78 during the height of jet charter service in the late 1990s to 2001, to prices that now fluctuate between $3 and $4 depending on the month. These prices have forced many commercial airlines to discontinue service with smaller jets with 50 seats or less, which take significantly more fuel to operate than a 160 person commercial jet. Additionally since service to several cities have been cut outright, many businessmen and corporate CEOs find that they have no choice but to hire a charter jet in order to make important appointments abroad.

As an added bonus, several economic factors and pure innovation have led to several ways that less affluent members of society can afford to fly on chartered jets without spending a literal fortune. Many agencies have embraced empty leg ticket discounts that allow passengers to book a charter jet for less than a quarter of the regular cost. Between the reduced commercial services and the increased accessibility of these flights, charter jet services stand to gain a great deal from the economic tumult and regain their footing as a popular method of travel.