Business aircraft management and charter firm flyExclusive is offering a discounted jet card program for JetSuite SuiteKey customers affected by the latter company’s recent bankruptcy filing. Under the program, affected JetSuite jet cardmembers are able to buy $150,000 flyExclusive Jet Club cards for $100,000, allowing them to reclaim up to 100 percent of their losses $50,000 at a time per jet card.
SuiteKey members could collectively lose $50 million under the JetSuite bankruptcy, according to court filings. “$50 million is a terrible black eye for the charter industry, and I’d like to eliminate that black eye by using existing capacity,” Jim Segrave, owner of flyExclusive parent LGM Enterprises, told AIN. “We’re offering SuiteKey clients charter lift at our cost and in the process hope to make them lifelong flyExclusive customers.”
According to Segrave, most JetSuite customers had $50,000 to $60,000 contracts and could recoup almost their entire loss with just one flyExclusive contract. He estimates that JetSuite had up to 900 jet card members.
Kinston, North Carolina-based flyExclusive has an owned fleet of 57 Cessna Citations—CJ3s, Encores, Excels, Sovereigns, and Xs—and three Gulfstream GIV-SPs. The company operates its own aircraft interiors shop and will be opening a $12 million aircraft paint facility in the fourth quarter, Segrave said.