Jet.AI Inc is on track to deliver four new software features of its Operator Platform, designed to add revenue for private aircraft charter operators. Each product will be demonstrated in a webcast for the investment and broader aviation communities at the time of release.
“We're on track to release all four software features of the Operator Platform by year end,” says founder and executive chair Mike Winston. “All four have one thing in common; they each represent a way for an operator to generate new revenue. DynoFlight lets an operator earn a profit selling carbon removal credits; Reroute empowers an operator to dynamically repurpose empty legs; Flight Club enables by the seat sales; and Card Management and Billing allows operators to sell jet cards (ie pre-paid blocks of time).”
Jet.AI's capital light aviation division features five key elements: jet aircraft sales, jet cards, on-fleet charter, an onboard programme and a buyer's brokerage. Each of these inform Jet.AI's advancements on the software solutions side of its business.
With a wide variety of available aircraft and interchange capability, Jet.AI works to match the right asset to the right mission alongside operating partner Cirrus Aviation. Jet.AI sells block of flight hours upfront on the 30 Cirrus Aviation aircraft, four of which are managed on its behalf, and recognises revenue as hours are flown. Aircraft sizes range from the HondaJet Elite to Gulfstream G550. The Jet.AI fleet, composed of fuel-efficient light jets, is a popular and cost-effective solution for regional ad hoc charter missions. Customers can charter Jet.AI aircraft by the hour, while the company collects payment and can then provide a rebate to aircraft owners.
Pending Q4 software solutions webcast presentations:
- DynoFlight: September 2023
A simple way to offset emissions from 250 different types of aircraft in a working capital-efficient manner. It is designed to deliver certificates of high-quality offset credits to customers and to enable aviation operators to track carbon emissions and to transact carbon removal credits.
- Reroute: October 2023
Transforming empty flights into an opportunity to book a new charter by changing and dynamically allowing charter operators to reprice the legs. The feature allows an operator to work with its own empty inventory or to search for published empty legs by partner operators and to optimise which aircraft to utilise for a given city pair. Reroute is expected to increase revenue generating aircraft utilisation for the more than 5,000 Part 135 charter operators in the US.
Flight Club: November 2023
Will enable Part 135 operators to function under US Department of Transportation (DOT) Part 380, allowing them to sell private jet service by the seat instead of by the whole aircraft. It automates form filing for each flight with DOT and helps smaller operators conform to DOT escrow requirements for ticketing and movement of customer funds, along with integration of ticketing and payment collection. This software provides an additional revenue and operational option for business aircraft while also providing customers with a prospectively less expensive pathway to business jet travel.
- Card Management and Billing: December 2023
This white label feature should help charter operators make the leap to selling jet cards. It is being designed to provide customers with a portal to view current utilisation, book future flights and view invoices and to remit payments directly.