NetJets hopes to add 20 supersonic planes to private jet fleet
While plenty of private jet flyers are fortunate enough to travel the world in their own planes, that certainly isn't the case for everyone. Instead, many high-flyers either charter planes on demand or participate in fractional ownership programs like NetJets, making it possible to experience the convenience of private jet travel without the astronomical cost.
NetJets' fleet could soon be getting a big upgrade, too. The company just signed a Memorandum of Understanding (MOU) with Aerion, a U.S. company working to develop supersonic business jets. NetJets could purchase as many as 20 Aerion AS2 aircraft, which are expected to begin rolling down the company's Melbourne, Florida, assembly line beginning in 2023.
While skeptics may view the financial implications of COVID-19 as a setback for commercial supersonic travel, led by companies like Boom, the private jet industry has the potential to rebound more quickly.
Throughout the pandemic, some former airline flyers have shifted their focus to private jets, hoping to minimize their exposure to other people and avoid pandemic-related disruptions. Once global travel becomes possible again, I wouldn't be surprised to see demand for private jet travel continue to grow among travelers with the means to pull it off.
In this case, the bigger unknown is whether or not Aerion can deliver on its 2023 production-line promise — and, once the aircraft is ready to enter NetJets' fleet, whether enough customers can cough up the funds required for private supersonic travel.
Featured rendering courtesy of Aerion.
TPG featured card
at Bilt's secure site
Terms & restrictions apply. See rates & fees.
| 1X | Choose to earn up to 1X points on rent and mortgage payments with no transaction fee |
| 2X | Earn 2X points + the option to earn 4% back in Bilt Cash on everyday purchases |
Pros
- Choice to earn up to 1 Bilt Point per dollar spent on rent and mortgage payments
- Elevated everyday earnings with both Bilt Points and the option to earn Bilt Cash
- $400 Bilt Travel Portal hotel credit per year (up to $200 biannually)
- $200 Bilt Cash annually
- Priority Pass membership
- No foreign transaction fees
Cons
- Moderate annual fee
- Designed primarily for members seeking a premium, all-in-one card
- Earn points on housing with no transaction fee
- Choose to earn 4% back in Bilt Cash on everyday spend. Use Bilt Cash to unlock point earnings on rent and mortgage payments with no transaction fee, up to 1X.
- 2X points on everyday spend
- $400 Bilt Travel Hotel credit. Applied twice a year, as $200 statement credits, for qualifying Bilt Travel Portal hotel bookings.
- $200 Bilt Cash (awarded annually). At the end of each calendar year, any Bilt Cash balance over $100 will expire.
- Welcome bonus (subject to approval): 50,000 Bilt Points + Gold Status after spending $4,000 on everyday purchases in the first 90 days + $300 of Bilt Cash.
- Priority Pass ($469/year value). See Guide to Benefits.
- Bilt Point redemptions include airlines, hotels, future rent and mortgage payments, Lyft rides, statement credits, student loan balances, a down payment on a home, and more.