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October 25, 2008

Charter Exec: Private Jets To Grow Despite Economic Uncertainty

By Pardhasaradhi Gonuguntla

NEW YORK – As a result of the nation’s continued economic uncertainty and faltering credit markets, private jet charter will grow as people sell their planes to reduce overhead or opt out of renewing their fractional commitments, according to Jeffrey Menaged, CEO of Chief Executive Air.

“Our customer acquisition rate continues to accelerate, thanks in part to our long held policy of everyday value pricing and because private jet charter has no upfront cost,” said Menaged. “We feel that in today’s volatile market people are looking to preserve cash and capital. Private jet charter requires no initial investment and allows people to pay as they go.

Menaged predicts that as an on-demand charter company, Chief Executive Air may see a decline in business from a marginal user, but it will gain considerable market share among frequent fliers like high net worth individuals and big corporations for whom private travel is a necessity thanks to the company’s unique pay-as-you-fly approach.

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