HondaJet Elite Now Available From Jet It At Bargain Rate of $1,600 Per Hour
Fractional jet ownership is nothing new these days. However, one of the newest fractional ownership companies, Jet It, is hoping that its slightly different business model will draw more customers as they focus on an underserved market segment.
While companies like NetJets sell ownership based on the number of hours you need the aircraft in a given year, the Jet It model bases ownership on days. This means that Jet It owners can book their aircraft for the day and not worry about the number of hours used. This could be an advantage if you need to fly multiple segments in a given day, or fly longer routes without burning through your allotment of hours.
Jet It founder and CEO Glenn Gonzales tells TPG via email, "We are incredibly excited about the opportunity to make a positive and sustainable contribution to private travel, and firmly believe that Jet It will prove itself as an innovator in private aviation. Designed and constructed from empirical evidence, Jet It and JetClub serve a segment of the market that has been completely overlooked in pursuit of larger aircraft and larger margins."
The company took delivery of what will be the first in a fleet of HondaJet Elite aircraft this week at its headquarters in Greensboro, NC. Greensboro also happens to be the headquarters of HondaJet Elite, which makes delivery easy. While both founders of Jet It worked for HondaJet previously, they say that they chose the Honda aircraft based solely on the fact that it's the best option for their mission. Jet It is currently the only US-based fractional ownership company with a HondaJet Elite in its fleet.
The company is touting that its business model and the efficient HondaJet Elite will allow an industry-leading operation rate of $1,600 per hour. The Jet It website says with traditional fractional ownership, that same hour could cost as much as $7,600. That's of course after you buy your fractional share of the $5.25 million private jet, which Jet It tells TPG starts at $600,000 for US-based customers.
While that price tag might seem steep, if you don't need the seating capacity of the $21 million Embraer Praetor 600 or the 6,000-mile range of the $45 million Gulfstream G500, the HondaJet Elite looks like a steal for the price. The jet can seat up to seven people including crew, but we're pretty sure no one wants to win the prize of being assigned the seat in the lavatory. With a range of just more than 1,600 miles, you could easily make nonstop flights between New York and Dallas or Miami.
One of the most interesting points about the Jet It program is the fact that you can actually pilot your own aircraft. That's assuming, of course, you have a pilot's license and have completed the required training for the aircraft type. The Jet It website says "You earned your wings; Now fly your Jet". It's not clear if you get a discount for crewing for the day though.
Jet It offers fractional ownership options ranging from 1/10th, which will get you 25 days per year, all the way up to 1/2 ownership, which will get you 130 days to enjoy your private jet. Ownership requires a five-year commitment, however Jet It says it understands situations change and has options for ending ownership at the three-year mark. Ownership will also get you access to the company's 24/7 full-service concierge for no additional costs. According to Jet It, the concierge team can arrange everything from logistics to transportation to catering and even event tickets.
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- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
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There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.