Jet Republic
Encyclopedia
Jet Republic was a private jet company that offered private jet cards and share ownership (sometimes known as fractional ownership
). It is no longer operational.
The order for 110 Learjet 60XR mid-size jets from Bombardier
was reported by The Guardian to be largest ever for the aircraft manufacturer, with a service aimed at entrepreneurs and high net worth individuals. Talking to the Guardian, Jet Republic’s founder and CEO Jonathan Breeze
said, "The kind of customers we cater for will be continuing to run their businesses around Europe and could find themselves wanting to use private jets as the main airlines cut routes and services.”
However, on August 20, 2009, Bombardier announced that the contract had been terminated for the entire quantity of aircraft. No reason for the termination was made public at that time.
The Financial Times reported that Jet Republic intends to differentiate its offering by “flying the aircraft with a flight attendant as standard, a service usually provided only on larger executive jets, and with hot meals and fresh expresso coffee. Passengers will also have inflight BlackBerry connectivity.”
, who also holds the position of chief executive officer
.
Other members of Jet Republic’s management team include:
To fund this new enterprise, Jet Republic has been able to secure substantial financial backing from Euram Bank, the leading Austrian private bank, and a consortium of its clients.
Jet Republic's operational headquarters were in Lisbon, Portugal.
In an interview with the Financial Times, in April 2009, Jonathan Breeze said that the company's first aircraft would be delivered in 2009 and the company was on target for $150 million turnover, raising to $350 million in 2010.
Jet Republic said on 20 July 2009 it will cut the price of its aircraft hire Jet Card by 14 per cent to €99,000 (£85,192). A month later it was bust.
Fractional Ownership
In business, fractional ownership is a percentage share of an expensive asset. Shares are sold to individual owners. A fractional owner enjoys priorities and privileges, such as reduced rates, priority access on holidays and income sharing. Typically, a company manages the asset on behalf of the...
). It is no longer operational.
Launch
Jet Republic launched in September 2008, with a press event held at Farnborough Airport, where the company announced a $1.5 billion (£815 million) private jet order.The order for 110 Learjet 60XR mid-size jets from Bombardier
Bombardier Aerospace
Bombardier Aerospace is a division of Bombardier Inc. and is the third-largest airplane manufacturer in the world. It is headquartered in Dorval, Quebec, Canada.- History :...
was reported by The Guardian to be largest ever for the aircraft manufacturer, with a service aimed at entrepreneurs and high net worth individuals. Talking to the Guardian, Jet Republic’s founder and CEO Jonathan Breeze
Jonathan Breeze
Jonathan Breeze is the co-owner of luxury concierge and lifestyle management company WhiteConcierge, which is based in Peterborough, UK. He was formally CEO of Jet Republic....
said, "The kind of customers we cater for will be continuing to run their businesses around Europe and could find themselves wanting to use private jets as the main airlines cut routes and services.”
However, on August 20, 2009, Bombardier announced that the contract had been terminated for the entire quantity of aircraft. No reason for the termination was made public at that time.
Services
Jet Republic's private jet club did offer members two programmes: share ownership and 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 programme 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
- Jet Republic’s Private Jet Card allows card members access to flight time by purchasing 25 hours or more without any further commitment. This programme 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. Hours on the Private Jet Card never expire and unused hours may be refunded at any time.
The Financial Times reported that Jet Republic intends to differentiate its offering by “flying the aircraft with a flight attendant as standard, a service usually provided only on larger executive jets, and with hot meals and fresh expresso coffee. Passengers will also have inflight BlackBerry connectivity.”
Management and ownership
Jet Republic was founded by former RAF pilot Jonathan BreezeJonathan Breeze
Jonathan Breeze is the co-owner of luxury concierge and lifestyle management company WhiteConcierge, which is based in Peterborough, UK. He was formally CEO of Jet Republic....
, who also holds the position of chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
.
Other members of Jet Republic’s management team include:
- Viktor PopovicViktor PopovicViktor Popovic is Chief executive officer of the European American Investment Bank AG , an independent Austrian private bank. Viktor joined Euram Bank in January 2002 as chief executive officer and managing partner and has direct responsibility for investment banking and strategy.Prior to joining...
, President - Luis Vianna, Chief Operating Officer
- Andrew Hiscock, Chief Financial Officer
- José Luiz Monteiro, Director of Cabin Design
- Peter Schickling, Director of Customer Service
- Jonny Shingles, Director of Sales
- Richard Thomas, Director of Marketing
- Raúl Sosa, Director of Aviation
To fund this new enterprise, Jet Republic has been able to secure substantial financial backing from Euram Bank, the leading Austrian private bank, and a consortium of its clients.
Jet Republic's operational headquarters were in Lisbon, Portugal.
The Non-Future of the company
Irish bookmaker Paddy Power offered bets on whether JetRepublic would still be in business on 1st Jan 2010.In an interview with the Financial Times, in April 2009, Jonathan Breeze said that the company's first aircraft would be delivered in 2009 and the company was on target for $150 million turnover, raising to $350 million in 2010.
Jet Republic said on 20 July 2009 it will cut the price of its aircraft hire Jet Card by 14 per cent to €99,000 (£85,192). A month later it was bust.
