Two Honda Aircraft alumni have joined forces to launch a fractional ownership program, Jet It, that will operate HondaJets in the Eastern U.S. On Thursday, Jet It opened its order book for share purchases.
Jet It executives described their new program as a hybrid fractional program that will enable people to own a portion of a jet without the full costs associated with ownership. The program significantly lowers hourly cost, Jet It said, estimating that a trip from New York to Washington, D.C., would carry a price of a little more than $1,500. The same trip on a traditional fractional would cost nearly $10,000, and a membership program might charge up to $5,000, the company added.
Jet It will provide a direct line to 24/7 concierge services and assign a designated client representative, but is also establishing app-based scheduling. Based in Greensboro, North Carolina, Jet It has sales and operations offices in New York and Florida, with aircraft that will be positioned throughout the East Coast. The first Jet It HondaJet will go into operation by the end of September.
The program was founded by former Honda Aircraft sales executives Glenn Gonzales and Vishal Hiremath, who combine for more than 40 years of aviation experience. Gonzales, the CEO, is a former F-15C fighter pilot who has held sales roles with Gulfstream, as well as Honda Aircraft. Hiremath, who is serving as president, has held engineering, sales, and marketing roles at Rockwell Collins and Gulfstream, in addition to Honda Aircraft.
"We provide hassle-free ownership with all the details of aircraft management: pilot hiring, training, maintenance, safety oversight, operations, scheduling, hangarage, insurance, and cleaning are all taken care of,” said Hiremath. “We have selected the HondaJet as our featured aircraft, as it complements our client-centric emphasis on reliability, performance, and efficiency.”
“Jets are clearly the fastest way to travel, but private jet ownership is expensive and can be a ton of time and work,” added Gonzales. “For Jet It owners, we eliminate the barriers of ‘time and cost’ from not only jet ownership, but more importantly, life’s experiences. When travel is fast and less expensive you can travel more often and become more productive or enjoy a grander experience while at your destination.”