Reuters - Video

Edition: US | UK | IN | CN | JP

Finance Videos

Private jets no longer just for super rich

Tuesday, August 02, 2016 - 01:52

Flying on a private jet isn’t just a luxury for the wealthy and famous anymore, with just a tap on an app, consumers are getting access to deals as the industry looks to raise the competition..Maryam Behmard has this story.

▲ Hide Transcript

View Transcript

RESENDING WITH CORRECTED TYPO IN NAME CAPTION - TOM NOT TOP - APOLOGISES Jet Smarter is being called the UBER of private jets. The app offers seats for as little as 100 pounds ONE-WAY.... It's client base varies from businessmen to celebrities, and some like, rap artist Jay-Z and the Saudi Royal family, are investing millions of dollars in the company. (SOUNDBITE) (English) TOM ENGELHARD, GM, JET SMARTER, SAYING: "We're membership based. We do sell memberships, once you pay, these services are for free. The membership will set you back 10 thousand dollars annually, plus a ONE-time fee of 5 thousand dollars for signing up... That gives you access to ALL the jet shuttle flights in 170 countries around the world, and thousands of flights a day. The more you use it, the cheaper your flights, (SOUNDBITE) (English) TOM ENGELHARD, GM, JET SMARTER, SAYING: "Let's say you want to have one of our jet shuttles like the one we're on here, which goes from London to Ibiza you click on the jet shuttle, you click and you see our schedule. Once you choose your date, you pick as many seats as you want, your seats are for free, click on it bookings done." When charter companies reposition aircraft to pick up passengers, the plane flies empty, and waiting on the tarmac could cost thousands... Jet Smarter allows members to TAP into a database and make use of an already-scheduled flight. (SOUNDBITE) (English) TOM ENGELHARD, GM, JET SMARTER, SAYING: "We're making use of inefficiencies, in the industry, like the empty lags, that fly empty anyway, they're flying empty, so why not put someone on it." Rivals like Victor, Private Fly and Ubair are all in the mobile marketplace... vying for a piece of the industry, So getting things right will be KEY for offering smarter service, which means the sky's the limit...

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Private jets no longer just for super rich

Tuesday, August 02, 2016 - 01:52