Matt Thurber, editor-in-chief at AIN Media Group, has been flying since 1975 and writing about aviation since 1978 and now has the best job in the world, running editorial operations for Aviation International News, Business Jet Traveler, and FutureFlight.aero. In addition to working as an A&amp;P mechanic on everything from Piper Cubs to turboprops, Matt taught flying at his father’s flight school in Plymouth, Mass., in the early 1980s, flew for an aircraft owner/pilot, and for two summer seasons hunted swordfish near the George’s Banks off the East Coast from a Piper Super Cub. An ATP certificated fixed-wing pilot and CFII and commercial helicopter pilot, Matt is type-rated in the Citation 500 and Gulfstream V/550. Based in the Pacific Northwest, Matt and his team cover the entire aviation scene including business aircraft, helicopters, avionics, safety, manufacturing, charter, fractionals, technology, air transport, advanced air mobility, defense, and other subjects of interest to AIN, BJT, and FutureFlight readers.

Editor-in-Chief

Matt Thurber

As first reported by Private Jet Card Comparisons, fractional-share provider Jet It filed for Chapter 7 bankruptcy on December 24, which involves liquidation of any nonexempt assets to pay qualifying creditors. However, in the Chapter 7 filing, Jet It checked a box saying, “After any administrative expenses are paid, no funds will be available to unsecured creditors.”
Launched <a href="https://www.ainonline.com/aviation-news/business-aviation/2018-08-31/jet-it-offer-hondajet-shares-eastern-us">in 2018</a> by Honda Aircraft alumni Glenn Gonzales and Vishal Hiremath, Jet It targeted buyers seeking lower costs than traditional fractional-share programs, initially operating HondaJets and later adding other types. Jet It <a href="https://www.ainonline.com/aviation-news/business-aviation/2023-05-30/volato-offers-lifeline-jet-it-hondajet-owners-pilots">shut down</a> operations in May 2023 after fielding 21 HondaJets.
In the Chapter 7 filing, Jet It listed assets of $1,156,638.16 and liabilities of $36,249,727.94. Cash or cash equivalents came to $155,964.22. Jet It’s inventory of ground support and maintenance tools totals $219,825.
Major creditors include a long list of familiar aviation companies, but investor LoJet Holdings is the only one with claims secured by property, at $26.525 million.
Creditors with the largest nonpriority unsecured claims include Carolina GSE ($170,969.65); Embraer CAE Training Services ($116,616); FlightSafety International ($400,981.50); Bank of Utah ($1,575,000); Gogo ($227,775.78); Rocket Fuel Labs ($207,248); and The Dixie Building ($176,244.80). Total claims from fuel providers are nearly $1.5 million. Non-Jet It fleet charter provision was more than $628,000. Another large segment of claims is from maintenance providers, totaling more than $5.4 million.

News and issues concerning the aviation charter and fractional-ownership industries and markets, including company announcements, regulations, new developments and labor issues.

Jet It Fractional-share Operation Files for Chapter 7 Bankruptcy

Company launched operations in 2018 and operated 21 HondaJets

In the Chapter 7 filing, Jet It listed assets of $1,156,638.16 and liabilities of $36,249,727.94.

Jet It Fractional Provider Files Chapter 7 Bankruptcy

2024 Corporate Aviation Leadership Summit

Curt Epstein

News about bills, laws, regulations and other governmental decisions affecting aviation and aerospace. Topics include FAA re-authorizations, taxes on fuel and aviation activities, environmental legislation, ICAO decisions, governmental mediation of labor conflicts and World Trade Organization disputes and decisions.

News and issues relating to business, corporate and private aviation, primarily regarding turbine-engine-powered airplanes and helicopters. Subjects include aircraft, engines, maintenance, operations, personnel, acquisitions, accidents, safety, security, and training.

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Amy Wilder

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