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Exquisite Air Charter has developed a pre-paid, fully refundable program to give customers more flexibility and comfort when opting to fly private. This decision is a response to a rising trend in deposit-based jet card memberships during an increase in demand and first-time private jet flyers.
The company is led by CEO Rena Davenport, who is committed to educating customers and helping them to navigate the market by keeping their capital safe, providing transparent information to make informed decisions, and making the most out of private aviation.
The charter group also recently developed a program to identify illegal charter operations, another example of its commitment to creating a safe and transparent ecosystem for customers around the globe.RELATED STORY:Illegal charter identification program created, internal process reports suspected operations
The program will allow clients to obtain full refunds of any unused portion of their deposited funds at any time.
Jet cards require a deposit, which could place customers at risk if the company fails to break even. Many bankrupt jet card companies sold programs that sounded too good to be true. If a company is selling private charter flight hours below market value then customers must question how they can do so and remain profitable.
"When you pre-pay for something without a refund policy, the risk for the provider is diminished but the risk for the consumer is increased because they already have your money," Davenport said. "What happens when a company goes out of business or files bankruptcy when they already have your money?"
Jet card programs are also often sold based on aircraft class rather than aircraft type. This can result in the issuer being in control of selecting aircraft and the carrier operating the flight. The customer was sold the jet card under the premise that the safety standards are high, but when it comes to the need to break even or remain profitable, clients worry whether or not safety values will be compromised.
Prior to 2010, programs were beneficial for customers flying one-way and remaining at their destination a significant period of time or those who lived in a rural area, since one-ways were not as readily available. In today's market, one-ways are a normal part of the industry business model and in most cases, it does not make sense to buy jet card programs that charge inflated hourly rates when it is more cost-effective to continue with pre-deposited funds.
"Our focus is on guiding customers in making informed decisions that are cost-effective, safe, and appropriate to their requirements on a per-flight basis," Davenport said.
"These are the reasons we recommend on-demand private jet charter. You should always be in control of your money and safety, and we should always work hard so passengers best maximize the dollars they spend experiencing private aviation."