JetSuite Sold, Plans Bigger Fleet, Lower Prices

Southern California-based JetSuite, a jet-charter and jet-card company, has been purchased by JetBlue founder David Neeleman and Acadia Woods Partners, a New York investment fund. Like Neeleman, JetSuite CEO Alex Wilcox was a founding member of the JetBlue team. 

In conjunction with the acquisition, JetSuite will expand its fleet of Embraer Phenom 100 very light jets. The company currently operates five of them and plans by late November to lease two more and take delivery of an additional five from the Brazilian manufacturer. JetSuite-which operates in the western U.S., Canada and Mexico-also intends to move into the Texas market. 

In announcing purchase of the company, Neeleman said that the private jet field is "loaded with unnecessary expense, poor asset utilization and low return on capital, despite the exorbitant costs to its users." He added that he expects JetSuite to be able to follow "some of the basic rules of low-cost carriers" to reduce charges for passengers. 

With that goal apparently in mind, JetSuite has announced that its Phenom 100s will be available for travel on Mondays, Tuesdays and Saturdays between Van Nuys, Calif., and Las Vegas for $999, which works out to about $250 per passenger with a full cabin. The aircraft is also available on the same days for flights between Oakland, Calif., and Van Nuys or Las Vegas for $1,499, or about $375 per passenger.