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Business Air News
Business Air News
The monthly news publication for aviation professionals.
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Read our latest feature:   Show issue: MEBAA
My Jet Broker challenges commission status quo
When turning to private jet hire, clients need anonymity and simplicity, and they need to feel they can trust the companies they work with. My Jet Broker reckons that's not something they can currently count on.
Operations director Matt Ryan-Coles and president Craig Richardson.

Private jet broker start up My Jet Broker, located in the UK and US, is offering fixed fee charter brokerage services.

Operations director Matt Ryan-Coles explains: "Private jet brokers are the middlemen who liaise between client and operator to secure the flight, but this often puts the client at the mercy of brokers and the commission that they add. This new company, My Jet Broker, aims to put an end to fluid commission costs with a fixed fee for every flight."

Brokers control a small market, and add a commission to the flights they are brokering; he claims, however, that many brokers add whatever commission they want to flights, potentially inflating the cost to the end client without improving the value. "Clients are at the mercy of the broker and the commission they choose to add; commissions can be set arbitrarily," he adds.

The company rates the operators it partners with, focusing on their service and performance, their on-time flights, their readiness to fly and their level of technical issues, and shares this information with clients. Their decision is not then driven by broker commission.

"It's easy to see how the current status quo has emerged," he continues. "Private jet brokerage can often be complex and needs to meet a precise set of requirements. We will cut through the noise to offer a fixed price so clients can count on a reliable pricing structure every time they pick up the phone."

One way, return and multi-leg flights are each set at a fixed price, and the client will know which operator the company is planning to use for their flights, and the price it has brokered for them. Clients will see the fixed price commission added, and they'll see the operator rating for each flight.

"Thus they know, up front, the price they will pay, and it won't go up," says Ryan-Coles. "When putting together a complicated trip for a high net worth individual, or scheduling a world tour for a premium artist, the notion that private flights will be fixed price is unheard of."

The company also plans to offer a VIP membership bundle that secures a 12 month fixed fee that can be paid in 12 monthly payments, or one more cost-effective annual payment. Membership means the client has only one broker fee to pay, regardless of how often they fly. And it offers a concierge service for booking flights, car hire, hotels, additional transport and luggage transfers with a dedicated ABTA and ATOL secured in-house team.

Ryan-Coles adds: "I am proud that My Jet Broker and the diverse and experienced team that join us, along with our president and our investment company, SilverMax Air Group, will position ourselves in the marketplace very quickly, overtaking the competition and breaking all normal trends around the broker world."

Many of the team have worked for different private jet brokers in the past, others are pilots and experienced aviation professionals who understand the industry inside and out.

Ryan-Coles says: “It's private jet clients that fuel the private aviation economy, but that doesn't mean that they should pay over the odds for their flights. Operators are delivering discount after discount to secure the contract but that discount never reaches the client. We have created a company that proactively chooses to operate in a transparent and honest way."

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