Jet Republic, a new private aviation company, has placed the largest European business aircraft order ever, worth $1.5 billion, for 110 Bombardier Learjet 60 XR aircraft. The private jet club service will fly to over 1,000 airports in Europe.
Jet Republic secured substantial financial backing from Euram Bank, the leading Austrian private bank, and a consortium of its clients, to finance the start-up.
Jonathan Breeze, CEO of Jet Republic, says: “Despite the current economic climate, the private jet market is enjoying strong growth. This, coupled with the fact that we believe there is significant room for improvement in the level of service provided by the private jet aviation sector, means there is a very
strong and real opportunity for us to take a significant share of this market. We have the right proposition, an extremely talented management team to deliver on our strategy and the financial support to bring it to life.”
Jet Republic’s Private Jet Club offers members two programs to choose from, Share Ownership or the Private Jet Card:
Share Ownership is for jet owners to purchase or lease a fractional share of a Learjet 60 XR by only paying for an aircraft share equal to the hours they need, starting at 50 hours a year. This program allows owners all the benefits of private jet travel without the management responsibilities or the large initial capital investment. In addition it offers a buy-back option at the end of the contract.
The Private Jet Card allows card members access to flight time by purchasing 25 hours or more without any further commitment. This program offers all the benefits of private aviation with the simple pricing structure of a one-off payment. In addition all Jet Republic members will be able to fly anywhere in the world through its partnerships with other operators.
Jet Republic’s operational headquarters is in Lisbon, Portugal. Its management team includes senior personnel who previously worked for companies such as GlaxoSmithKline, NetJets, WhiteConcierge, the Royal Air Force, Air Partner plc, Financial Times Group, TAG Aviation, Execujet, Groundforce ONE, Rolls-Royce, Sotheby’s, Siemens, Marriott International, Bombardier, Euram Bank and McKinsey & Co.