Private Jet Industry

Trends in the private jet industry and how to introduce innovation into private aviation

Everyday hundred of planes go up into the skies. Others still favour private flight. Technological advances are transforming every aspect of our life, and even luxury private air travel is no different. Did you hear about Uber for flight? We will discuss Uber-like private jet reservation applications in this paper.

The demand for private jet aircraft is soaring. More and more businesses are offering immediate booking of private air travel as well. However, the private jet industry is far from being technically far developed. But before we start discussing how today's technologies are transforming the way some of us charter private jet aircraft, let's take a look at how this ancient industry works.

What is the functioning of the private jet industry? Only a few years ago, the private jet hire service was only directed against deeply inserted leaflets. We had three ways to make a private booking: However, there are a few disadvantages to these conventional ways of making a private reservation, and they are not optimised for the way we like to do it in today's world.

In case you make a reservation through a brokers, it will take a few working day until you have booked a ticket. Even a fraction of the property in a plane cost a small sum of money, and not many individuals would use a private jet more than a few occasions a year (unless you are a political figure or president). Skyjet was the first company to offer the possibility to make private bookings on-line.

Eliminating the call backs and call backs and telefaxes with bills associated with conventional private plane reservation service, it made private jet aircraft available to many more individuals. Sky-jet was the first to make immediate bookings without the need for member card or pre-paid option. Today, there are many private jet reservation companies available on-line, among them the M2Jet and the Independent Jet.

However, although they have significantly enhanced the jet reservation experiences, they still do not have portable applications that could make the event even better. The advent of portable technologies and the advent of Uber-like all-round service has made it possible for private jet operators to push their limits. In order to develop a highly competetive portable app like About for private flight bookings, you need three things:

It is the primary aim of a passenger to get from point A to point to point on a private jet. Users do not want to provide their own data every single ticketed trip. After registration, a search for a proper ticket begins. Once a trip has been selected, a passenger wants to select the most appropriate one.

You can filter available jumpers by sizes, number of places, hourly rate, etc. Once a passenger has completed all his/her travel information, he/she wants to receive a quote immediately. This means you need to deploy an algorithms to estimate the costs of a particular trip on the basis of the information you enter. After all, a visitor has to make a payment for his reservation.

Creating an app like About: What does the About app consist of? Various types of service have different monetisation policies. Let us look at how the main players in the private jet business make a living. For private flight bookings there are two main methods of payment: Member tickets (Magellan Jets, JetSmarter). Magellan jets, for example, cost $108,750 or more for a 25 hour ticket that is good for one year.

It'?s Pay-as-you-fly. Using Pay-as-you-fly, you receive an offer for every booked flights and make a direct payment. It is not necessary to be a member to make a booking. Charter aircraft are billed on an hourly basis, regardless of the number of persons on the aircraft. Skyjet Chairman Greg Richman said lightweight aircraft begin at $2,800 an hour; medium sized aircraft at $3,800 an hour; medium sized aircraft at $4,500 an hour; and large jet aircraft at $6,500 an hour from 2015.

Most of these companies do not have their own aircrafts. Therefore, the dominating monetisation scheme for Uber-like private jet engines is the collection of transactions commission. Victor, for example, pays a charge of up to 10 per cent for all departures and empty routes (an empty route part is a return flight). When flying private planes, you only spend a few minutes on the actual use.

It is therefore viable for airlines to keep selling empty seats, otherwise a jet flies without pay passengers on the plane and the airline loses out. A number of airlines such as Victor and Talon Air offer discounts of up to 75 per cent on empty-haul travel. During the mid-2000s, private jet operators began to sponsor their business.

It was the primary concept to hit humans (i.e. prospective customers) with a shake of the hand. It'?s a good switch to private planes. But unfortunately this industry is still not very good in terms of simplification and openness. Where can you introduce innovative products to the private jet sector? Three areas of private jet industry improvement have been singled out.

Improve efficiency of reservation system. Most of the service providers have only just started to move away from offers and estimations towards a more automatic approach to prices. It is algorithms that help to quickly display the fare of a ticket. In order for our clients to see what they are paid for, we can deploy 360-degree video of the available jet engines.

All of us know how easy it is to get service at the tap of a button. Chatsbots help streamline the process of capturing customer requests and finding available jet aircraft. Generally speaking, the private jet industry is intensifying its business and many homeowners have realised that, despite their small size, they need to keep up with the time and technology.

When the number of high value private aviation industry service offerings has something to offer, industry vets should either make progress or be disturbed by new entrants.