2023 New Revenue Streams For Jet Charter Companies

2023 New Revenue Streams For Jet Charter Companies

The pandemic changed many habits of people. Working from home and getting food, and even drinks, delivered have become common place. Even the world of private jets has changed. In 2023 new revenue streams for jet charter companies are emerging.

Many charter companies have discovered the benefits of offering empty leg flights. Although the pooling of the inventory of flights has not matured. New startups like InstaJet Charters are pioneers in this new consolidation.

Charters are becoming more popular with soaring commercial travel cost, cancelled flights and long waits. Pooling a group of people for a regional charter is now actually becoming more cost effective.

The pandemic has also changed the work force. First there was a huge shortage of workers in the service industries. Now there are signs that this is improving with the slowing economy. For the mid to larger charters, where a flight crew is used, this has presented new challenges.

In addition to a shortage of pilots, there are flight crew shortages. Commercial flight crews are now starting to change careers to the less hectic private charter flights. After the whole unruly passenger mask mandate thing, many have had enough.

A former Frontier Airlines flight attendant, “Kelli”, told us:

“I had enough fighting with disrespectful customers and pilots who make us deal with everything. I have gone to school and now love being on private flights..”

With platforms such as FlyContract.com, charter companies can now find pilots and flight crews. This has created a new untapped revenue stream for charter companies.

These same flight crews need to be positioned for flights. Here the charter company and the crew will pay to get the flight crew positioned. Remember, these same people don’t like flying commercial.

A simple example is let’s say I have an empty leg available from Miami or Fort Lauderdale to Teterboro  (NYC market). A New York charter needs a flight crew for a mid-size or larger charter. That New York charter company and the flight crew will both contribute to that empty leg flight. And usually these types of charters can be repetitive.

Since you are dealing with a charter company and flight crew as a customer, it’s an easy sale.

While empty legs are a great extra revenue stream or cost saving for regular clients, this is whole new potential customer base emerging.

And the good news is this 2023 new revenue streams for jet charter companies will also be a reliable source of repeat regular customers.

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