In her new role Barnes will be focused on driving growth across the company. JetSet Media, established in 2006, is an aviation marketing and media firm specialising in marketing solutions, brand management and strategic communications for the aviation industry. She will also support joint venture company Private Jet Media Americas (PJMA) in its continued growth throughout the Americas. The joint venture  was announced in the fourth quarter of 2023. PJM uses video technologies to generate additional revenue for FBO partners and enhance the passenger experience.

“I am thrilled to remain in the aviation industry and help solidify JetSet Media’s out of home advertising presence and grow the network of FBOs,” said Barnes. “I’m looking forward to advancing the marketing and communications initiatives of JetSet Media and PJMA, which will allow me to stay connected to FBOs around the globe.”

Previously, Barnes, founder of Paragon Aviation Group, led the company through “significant” growth and transformation. Under her leadership, Paragon expanded its network, improved operational efficiencies and strengthened customer relationships.

Tim House, CEO and founder of JetSet Media said: “We are thrilled to welcome Megan to the JetSet Media team. Her expertise and vision in the aviation industry will be invaluable as we work to advance our marketing and communication initiatives. We are excited to see the impact she will have on our strategic direction and growth.”

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The agreement enhances the firm’s regional group charter services. Icarus specialises in organising charters for large groups of 30-300 passengers for corporate events, sports teams, musicians on tour and C-suites.

“Our new partnership with RVR Aviation and the addition of the ERJ135 to the brokerage fleet marks a significant milestone for Icarus Jet, allowing us to better serve our clients with more options and enhanced flexibility for their travel needs,” said Kevin Singh, president of Icarus Jet.

Opting for large jet charters offers significant cost savings, according to Singh. For example, a one-way flight from Dallas to Cancun costs around $160,000 for two heavy jets, whereas a group charter on the ERJ135 is approximately $65,000. Similarly, the cost per passenger from Dallas to Cabo San Lucas drops from $6,400 to $2,600.

“We are committed to offering the highest safety, comfort, and efficiency standards in our group charter services. With the ERJ135, we can provide a cost-effective solution for large groups without compromising on the luxury and convenience our clients expect,” adds Singh.

Icarus Jet also offers aircraft like the CRJ 1000 and A319 for larger groups, accommodating up to 100 passengers or more. The firm serves over 200 locations across North America, including Mexico. It also offers large aircraft options in Egypt and various other international regions.

“We are thrilled to expand our brokerage services by offering the ERJ135 as an option for regional group charters; this development opens new possibilities for Icarus Jet and our clients, enabling us to meet the growing demand for regional group charters with unmatched service quality.”

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The agency says services appear to operate like scheduled airlines but under “less-rigorous safety regulations – a fact that oftentimes is not transparent to the flying public”. The FAA will formally explore new ways to integrate charter flights into the airspace in a safe manner that maintains flexibility for users. 

FAA Administrator Mike Whitaker said: “Part of the safety mission of the FAA is identifying risk early on, and that’s exactly what we’re doing on public charters as usage expands. If a company is effectively operating as a scheduled airline, the FAA needs to determine whether those operations should follow the same stringent rules as scheduled airlines.” 

The FAA first made its plans public with a request for input in August 2023 from which it received and evaluated approximately 60,000 comments. It wants to amend part 110 definitions of “scheduled”, “on demand” and “supplemental” operations. If finalised, public charters will be subject to operating rules based on the same safety parameters as other non-public charter operations.   

“At the same time, we want to look at how future innovation might cause us to think differently,” Whitaker added. “Safe air travel options should be available to everyone, not limited to only those living near a major airport. We want to put a safety lens over the options of future innovation, as we work to further connect small and rural communities to open up more options for everyone at the same high level of safety.” 

The FAA intends to issue the notice of proposed rulemaking as quickly as possible . As part of any proposed rule, the agency would seek comment on an effective date that would allow for industry to adapt to any change in the regulatory environment.

Maintaining focus on expanding air services to small and rural communities, the FAA will look to  align aircraft size and certification standards with operational needs for such communities. The agency will convene a safety risk management panel (SRMP) to assess “the feasibility of a new operating authority for scheduled part 135 operations in 10-30 seat aircraft”.

The FAA’s public charter work is being done in coordination with the Transportation Security Administration (TSA). While the FAA focuses on the safety of the flying public, TSA focuses on the security of transportation systems. 

The TSA has been reviewing the security requirements of certain operators under the Twelve-Five Standard Security Program (TFSSP), which includes a proposal for the screening of passengers and their accessible property on public charter flights along with other requirements for all TFSSP operators. In accordance with 49 CFR 1544, TSA provided a 45-day comment period for the impacted operators that ends on June 27. TSA will adjudicate any comments received from industry and continue to work closely with the impacted operators.

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The Los Angeles facility joins Signature’s San Francisco FBO which has already made the switch to 100% SAF.

“This is a transformative time for Signature, and our partnership with Neste is helping us take another significant step towards net zero by providing a 100% supply of blended SAF at our Los Angeles location,” said Derek DeCross, company’s chief commercial officer.

“This collaboration exemplifies how we’re working together with both our guests and our partners to accelerate the adoption of environmentally friendly practices and paving the way for a more sustainable future in aviation.”

Signature said that customers who don’t want to pay the SAF price that it won’t affect them as the premium will be transferred to the book and claim system.

The system allows customers to buy SAF credits at any Signature location globally, paying the price difference. They’ll get environmental credit, but the actual eco-friendly fuel will be used by another plane elsewhere, like in Los Angeles where it’s available.

The operator recently passed the 30m gallon mark in terms of total SAF delivered throughout its network.

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The SFX+ programme has seen SkyShare expand its fleet with Gulfstream G450s and Challenger 300s, in addition to its fleet of Pilatus PC-12s, Citation CJ2s and Citation Excels under the existing SFX programme. The new finance options are designed to make it easier for small and medium enterprises to access private aviation while retaining capital in their businesses.

“Part of our culture at SkyShare is to empower small to medium-sized businesses,” Cory Bengtzen, CEO and founder of SkyShare told CJI. “As we work with these entrepreneurial clients to find the best way to fly for their businesses and families, one factor that always comes up is cash flow. Many of our clients who buy a full aircraft often take on debt against the aircraft to keep their cash working within their business(es). So naturally, the question that follows is, ‘Why not do that for fractional ownership?’”

But until now, it just wasn’t possible, it didn’t fit inside the box of “how things are done”, said Bengtzen. “So we decided to do something new and hopefully exciting, and lower the entry barrier, allowing our clients to keep their cash working for them while still taking advantage of all the bonus depreciation tax savings. 

“Remember that most, if not all of our clients, could pay cash for their share, but many would prefer to keep their cash flowing. Moreover, with the finance package we’ve put together, the payments are incredibly low because we can finance the loan over a longer period with a balloon payment when the aircraft sells.”

Fractional ownership already lowers the barrier to entry for private flight by cutting costs as much as 1/16 versus full-ownership, while still providing guaranteed availability and a low-commitment three-year term. Under SkyShare’s new financing plan, the barrier to entry comes down even further.

For example, in the SFX programme, shares start at $335,000. The new financing programme requires only 35% of that down ($117,250) and monthly finance payments as low as $2,354. For the large-cabin SFX+ programme featuring Gulfstream G450s, shares begin at $950,000, with financing options starting at a $332,500 down payment and $6,684 monthly finance payments. 

“We chose to use pre-owned aircraft, which reduces the acquisition price by half. This also allows our owners to pick the best aircraft for each specific flight. In the SFX programme, you can take an Excel to Texas one day and the next day take a PC-12 to a small, remote runway in the middle of nowhere. With our new SFX+ programme, you will be able to access our entire fleet, flying a G450 to New York one day and using the PC-12 or a light jet for your next meeting and home before dinner.”

SkyShare’s financing also still allows fractional owners to take full advantage of bonus depreciation benefits on their taxes. “Our goal is to make private flight as accessible and beneficial as possible, ensuring clients can keep their money working for them while enjoying all the benefits of a personal aircraft fleet. If you’re a small or medium business aiming to compete with a Goliath in your industry by doing more business face-to-face, here’s a brand new slingshot.”

The new initiative coincides with SkyShare’s 15th anniversary, marking a significant milestone in its history. Bengtzen said he has been “incredibly fortunate to bootstrap” the company without any outside investment or pressure from private equity firms dictating how the business is ran. 

“In the next 15 years, we aim to grow the company and expand nationwide through acquisitions starting in 2026. Our team will continue to support our clients in our fractional program, charter services, and in full aircraft ownership, helping them acquire/sell aircraft, manage their asset, and reduce their operational expenses with charter revenue, if they desire.”

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The transaction, valued at $326.4m, was announced back in December last year, but the deal could be worth more than US$6bn if all optional 232 Challenger 3500 jets are delivered over time. Deliveries for aircraft included in the firm order are set to begin in the second half of 2025.

“The Challenger 3500 jet continues to impress with its ultimate combination of refined cabin experience, proven reliability and top performance, perfectly aligning with the needs of NetJets’ discerning client base,” said Éric Martel, president and CEO, Bombardier. “We couldn’t be prouder to see the Challenger 3500 business jet join the NetJets’ fleet as we write the next chapter of our long-term collaboration.”

The Challenger aircraft family is well known for its reliability and safety with more than 900 business jets of the Challenger 300 series in service worldwide. The 3500 builds on that track record and boasts a dispatch reliability of more than 99.8%. It also offers a range of 3,400nm and “outstanding” runway performance and steep-approach capabilities.

It is also the first business jet in the super midsize segment to have an Environmental Product Declaration published, documenting the aircraft’s environmental footprint over its lifecycle.

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With almost 1,000 occupied takeoffs and landings and over 1,700 flights completed dating back to early 2021, the Florida-based charter firm has amassed nearly $32m in total revenue, equivalent to approximately 470 Bitcoins.

By leveraging cryptocurrencies as a secure, efficient, and anonymous payment method, the Boca Raton company was founded on a commitment to innovation and customer-centric service. Patel (pictured above) had the idea back in 2017 when a client with banking issues put in a request for an urgent flight to Europe. “The only option was Bitcoin,” said Patel. “It actually turned out to be really simple and within a few hours we had him flying to Europe.”

“That is when I realised there are few philosophical differences between cryptocurrency and private aviation. In terms of efficiency and borderless payments it’s the same ideological approach that it should be found in private aviation — you can fly wherever you want, however you want, whenever you want. Private aviation should be something that revolves around you instead of trying to constantly navigate this sea of chaos.”

Patel said he recognises that today’s travellers, particularly millennials, value flexibility, convenience, and security in their journey.

“No longer bound by fixed schedules and crowded terminals, passengers crave the ability to jet off on their terms, choosing when and where they want to travel without compromise,” he said.

Bitlux has also been able to help at the most critical of times too. Back in 2020, at the onset of the pandemic, a client called with a request to fly his mother out of southwest Russia because she required urgent lifesaving medical care.

“The hospital didn’t have the facilities to be able to care for her. The client said she is going to die here pretty soon. So the next though was ‘well, how do we process payment?’ Well, Saturday morning at 2am, banks are closed and I don’t have a credit card that can facilitate more than $5,000. The client asks ‘Do you guys take bitcoin?’ So within six hours we had a French plane with a medical staff landing in Russia, and then she was on her way to Oslo.

“Without cryptocurrency there is no way we would have been able to facilitate that,” said Patel.

If you’ve ever made a cryptocurrency transaction it probably involved a wallet-to-wallet transaction. This is exactly how Bitlux does business too. “It’s very people oriented. I thought about putting an automated system in, but I think it removes a certain level of service and attention from both parties that a transaction of this size definitely commands.”

“We’re not just a jet company. We’re the way to living your life without limits,” concludes Patel.

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The move will see Stevens acquire Mayo Aviation’s maintenance, repair and overhaul (MRO) operations at Centennial Airport (KAPA). Mayo serves as the Rocky Mountain West base of the George J. Priester Aviation family of companies.

Mayo Aviation president Brent Moldowan said: “This allows us to better focus on our aircraft owners and charter services while offering a national MRO partnership to our customers, giving them more options, capabilities and expertise. Stevens offers a robust maintenance provider plan nationwide for our owners, with a proven track record.”

The new alliance offers all Priester customers more access to MRO capabilities for all types of aircraft, especially Mayo Aviation’s 45-year relationship with Colorado Flight for Life and its fleet of King Air aircraft.

The move will also allow Mayo customers to leverage the expertise and scale of Stevens’ operations, including preferential scheduling. Similar to George J. Priester companies, the Centennial Airport base will be Stevens’ farthest west.

“Stevens’ legacy as a privately owned aviation company aligns with the values of all of our companies,” Moldowan said. “They understand that aviation is a service business and share the same focus on customers. Partnering with such an established, similar-minded company allows Mayo to best serve our owners’ needs and benefit charter clients.”

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More than 2bn voters will head to the polls in 2024 across 50 countries – including US, India and UK – according to the World Economic Forum. The elections will have a dual impact on charter. “The biggest thing that may affect the market this year, is that more than half the world’s population will be heading for the polls over the next 12 months,” said Andy Christie, group private jet director, Air Charter Service. “This will mean both politicians trying to boost economies in the run up to elections but coupled with uncertainty around long term projects pending the results of the polls. The US economy in Q4 will certainly be affected by the November 5th presidential election,” he said.

The US charter market shrank by around 4% last year, but is still more than 20% up on pre-pandemic figures, according to Air Charter Service.

Charter in China

Charter in China showed particular potential. “I expect the Chinese private jet market to continue thriving after it really picked up again last year,” said Christie. “Long-range flights to Europe and the US became more popular and we expect this market to remain strong, as long as the geopolitical landscape remains stable.”

But global stability was far from assured in an increasingly volatile world. “A major concern this year is the increasing volatility in the Middle East, despite the surge in entertainment, being driven by Saudi Arabia,” he said. “The fragile nature of the current environment and potential effect on oil prices could derail the economic outlook, which would have a far wider reach than just the local markets.”

Elsewhere, the southern hemisphere markets of South America, Africa and Australasia made a quicker recovery post-Covid than some economies. All three are likely to continue to grow in the year ahead. 

European flights saw an 8% fall last year compared with 2022, but they remained 7% ahead of pre-pandemic levels. The company predicts private jet levels will remain similar this year, staying ahead of 2019.

Limited by shortage of pilots

But a potentially strong summer may be limited by a shortage of pilots and parts. “Both are still an issue for airlines, including the larger charter companies in the major aviation hubs, which could further impact the number of airlines and aircraft available on the market,” said Christie. While capacity should be too much of a limiting factor for the rest of the year, if it is that could offer an opportunity for the company. “We would expect to be approached to source replacement capacity from the global market.”

The combination of so many economic and political factors made it difficult to make firm predictions. “Overall, we think that flight levels will remain relatively flat, year-on-year, potentially with a slight increase in the first half of the year,” said Christie. “But this is likely to be offset by a decline in the second half as the uncertainty of elections potentially putting the decisions on long term projects on hold.”

Meanwhile, Don Dwyer, managing partner, Guardian Jet discounted suggestions that the 2024 US election is likely to curb pre-owned jet sales. While acknowledging some impact on sales linked to the 2012 election, he detected no impact in 2016 and 2020. “I just don’t see anything to slow down the train,” Dwyer told our Corporate Jet Investor London 2024 conference last month. 

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With a delivery time of 5-6 years, the preorder represents the second deal of this type for LYTE following on from VMan Aviation Services’ purchase of 10 aircraft last year. 

Ghenus Air has also pre ordered 20 eVTOL aircraft from Plana, 20 UAVs from Traverse Aero and 50 aircraft from Odys Aviation. Ghenus’s 10 pre-orders with LYTE are for its 40 seater eVTOL LA-44, the SkyBus, its cargo variant, the SkyTruck LA-44C, and its 19 seater prime variant, the LA-44 X Prime. 

Ghenus Air is expanding its door-to-door market for corporate executives and business owners. Joseph Kim CEO said: “There are thousands of regional airports worldwide, most of them underutilised. In the United States, 90% of people live within a 30-minute drive of a regional airport, compared with 60% for a commercial airport. This existing capacity of underutilised airports could support a growing RAM [regional air mobility] market with less investment and ramp-up time than other new modes of transport such as UAM.” 

LYTE’s SkyBus offers a range of 620 miles (1,000 km) with a max speed of 190 mph (300 km/hr). A full-scale prototype is being planned within 24 months, and serial production within 5-6 years.

Freshta Farzam, CEO & Founder LYTE Aviation said: “It is an honour for us to get so well appreciated and supported in the aviation industry. Within only one year, we are collaborating in over 19 cities in four continents and now we have received in total 20 preorders worth, in total, €800m during concept phase. Imagine, the 2000 preorders we are warming up now once we have our prototype ready.”

“This pre-order comes at a great timing for us, as we are expanding our portfolio,” added Farzam. “Now with the huge demand in business aviation we are introducing our 19 seater LA-44 X Prime version. We are currently designing the interiors of our prime version, varying from large meeting rooms in the sky that will take off right at your corporate’s door step, no runways required anymore, up to spacious solutions for families for a flight duration of 2-3 hours, taking off right at their home doorsteps.”

Ghenus sees “high potential” in the Korean and US regional air mobility markets. Kim explained: “In the United States, there is ample marketability for regional air service utilising underutilised regional airports. And since Korea is pursuing a hydrogen economy, the use of hydrogen-based SkyBus and SkyTruck is expected to not only be symbolic but also make a significant contribution to improving the profitability of local airports that are suffering huge losses.”

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