COMMERCIAL AVIATION

Jet Edge Adds Challenger to Its Coast-to-Coast Program, Launches Transcon Program as Part of Overall Membership Program Expansion

Jet Edge | December 18, 2021

Castlelake News
Jet Edge is closing the year with an expansion of its successful coast-to-coast Gulfstream program to include its Challenger fleet (300/350/605/650 series). Jet Edge celebrated its 25th of 35 new deliveries last week with another 10 slated thru May 2022. By June 1st of 2022, both the Challenger 300/350/605/650 and Gulfstream 4SP/450 aircraft will be fully outfitted with brand new state-of-the-art interiors, avionics, branded livery, and in-cabin features.

Jet Edge Reserve members will now be able to fly coast-to-coast on a Challenger starting at $39,900. In addition, Jet Edge is announcing a new transcontinental program to include non-coastal hubs like Las Vegas, Salt Lake City, Bozeman, Aspen, Nashville and Scottsdale among others for flights of four hours or more, also starting at $39,900.

“Our Reserve Member base has continually asked us to extend our coast-to-coast offering to our Challenger aircraft as well as develop a larger transcontinental footprint and we are delivering an enhanced program for CL300/350/605/650 flyers that complements our industry leading Gulfstream program,”

- Jet Edge Chief Commercial Officer, Jonah Adler.

The company is also closing 2021 with a 7.5% fly FET free bonus credit for Jet Edge Reserve Black members who join by December 31st. The Reserve program is fully refundable with no expiration, a distinct offering within the private aviation industry.

“As the only membership charter company domestically to have taken delivery of 25+ state of the art super-mid and large cabin aircraft this year, closing the year with an opportunity for Reserve Black members to fly on the charter industry’s most advanced fleet FET-Free, for as long as they’d like, is an exciting way to finish the year,”

- Jet Edge Chief Business Officer Steve Malvesta.

About Jet Edge
Jet Edge is the largest operator of super-midsize and large cabin private jets in private aviation. The Jet Edge fleet features the highest in third party aviation safety certification, immaculate interiors, finest cabin amenities, and the fastest high-speed Wi-Fi in the sky. With Jet Edge Reserve, members enjoy exclusive benefits and dynamic pricing with the most client-friendly terms and conditions in the industry. Reserve membership is fully refundable with no annual fees and no expiration. All Jet Edge flights are backed by a fleet that delivers the highest level of safety and cleanliness standards in private aviation.

Spotlight

Airlines can add up to 5% additional net revenues to the bottom line if they improve their pricing processes, access real-time data to calculate fares, and rely on cloud-based technology to uncover hidden revenue opportunities, according to "The High Cost of Doing Nothing," our recently published infographic.

Spotlight

Airlines can add up to 5% additional net revenues to the bottom line if they improve their pricing processes, access real-time data to calculate fares, and rely on cloud-based technology to uncover hidden revenue opportunities, according to "The High Cost of Doing Nothing," our recently published infographic.

Related News

BUSINESS AVIATION

KKR Introduces AV AirFinance, A New Commercial Aviation Lending Platform

KKR, AV AirFinance | June 14, 2021

KKR, a global investment firm, announced AV AirFinance Limited, a global commercial aviation loan servicer founded by a team of seasoned industry professionals in collaboration with KKR. The new secured loan servicing platform includes stable, long-term capital with decades of experience structuring commercial aircraft loan transactions to provide unique and innovative financing options to commercial aviation clients worldwide. KKR and AV AirFinance have agreed to buy a nearly $800 million portfolio of aviation loans from CIT Group to assist with the launch, which includes more than 50 loans for around 60 commercial aircraft. These loans in the portfolio have an average yield in the mid-single digits and a remaining duration of four years. Chief Executive Officer Siggi Kristinsson leads AV AirFinance. He is an industry veteran who most recently co-founded and served as CEO of Volito Aviation Services AB. This firm provides debt origination and consulting services to Goldman Sachs and other financial institutions. Mr. Kristinsson is assisted by a seasoned team of aviation financing experts with decades of expertise in secured lending totaling more than $25 billion in value through many market cycles. Ryan Jasinski joins AV AirFinance from CIT as part of the associated portfolio acquisition and will continue to focus on loan origination in the Americas. Per Waldelof, former president of PK AirFinance, works as a consultant for AV AirFinance, assisting loan origination and other elements of the company's operations. AV AirFinance will provide services to diverse commercial clients, including airlines, cargo operators, lessors, manufacturers, and investors, throughout the ownership cycle, including PDP, acquisition, leasing, conversion, and tear down. AV AirFinance offers worldwide origination skills and the financial capability to arrange longer-term, flexible, and competitive financing for a wide variety of single aircraft and extensive portfolio deals through its partnership with KKR. Separate accounts controlled by KKR are funding the portfolio acquisition from CIT. AV AirFinance is KKR's latest aviation investment, following previous Altitude Aviation, Altavair, KKR DVB Aviation Capital, K2 Aviation, DCAL Aviation, Wheels Up, Global Jet Capital, and JetEdge. About KKR KKR is a global investment firm that specializes in alternative asset management, capital markets, and insurance solutions. KKR seeks to achieve excellent investment returns by using a patient and disciplined approach to investing, employing world-class people, and fostering growth in its portfolio businesses and communities. KKR manages hedge funds and sponsors investment funds in private equity, credit, and real estate. The Global Atlantic Financial Group operates KKR's insurance companies, including retirement, life, and reinsurance products. References to KKR's investments might consist of the activities of its sponsored funds and insurance subsidiaries. About AV AirFinance Limited AV AirFinance Limited is a commercial aviation loan servicer founded in collaboration with KKR. Airlines, lessors, manufacturers, and investors can all benefit from AV AirFinance's secured financing solutions. AV AirFinance's team has decades of expertise structuring commercial aircraft loans. Due to its partnership with KKR, it has the financial strength and capacity to provide competitive financing and the knowledge to engage in the worldwide commercial aviation lending space effectively. AV AirFinance has offices in Ireland and the United States.

Read More

AIR TRANSPORT

L3Harris Technologies Awarded Contract for Three Canadian Special Mission Aircraft

L3Harris Technologies | November 02, 2020

L3Harris Technologies (NYSE:LHX) has been awarded a firm-fixed price contract to missionize three new King Air 350ER aircraft for the Canadian manned airborne intelligence, surveillance and reconnaissance (CMAISR) project. The aircraft will be delivered to the Canadian Department of National Defence (DND) as a Foreign Military Sale managed by the U.S. Army, Program Executive Office (PEO) Aviation, Fixed Wing Project Office.

Read More

DEFENSE AND SPACE

Elbit Systems Awarded $69 Million Contract to Provide EW Systems to a Country in Asia-Pacific

Elbit Systems Ltd. | May 31, 2022

Elbit Systems Ltd. announced that it was awarded a $69 million contract to supply Electronic Warfare (EW) capabilities to a country in Asia-Pacific. The contract will be delivered over a period of three years. Oren Sabag, General Manager of Elbit Systems ISTAR & EW, said: "We witness a growing demand for our EW capabilities as militaries around the world increasingly recognize the importance of dominating the electromagnetic spectrum." About Elbit Systems Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

Read More