Flying private jet just got a little easier thanks to the creative minds behind the JetToken concept. JetToken is a private plane membership service that allows users to access discounted flights and exclusive bookings. Now the company seeks to secure $10 million to further their jet acquisitions via an STO.
The business jet industry has boomed in the last decade with NBAA reports placing the market at around $150 billion in yearly revenue. That equals out to roughly 2,740 charter landings per day. The same report showed that the average cost of chartering a private flight equals approximately $5000 per hour.
Aviation Market Expansion
The high price of these flights hasn’t deterred market expansion. In fact, private flights increased significantly over the last five years. To add to this congestion, out of 13,750 private jets in the US, only 4,000 handle charter flights. In most cases, jet owners decided against the additional FAA certification and insurance requirements needed to permit third parties to fly their aircraft.
This added traffic has led to millions of flyers having to compete for flights during peak travel time. In turn, the congestion increased prices and stressed resources in the market.
HondaJet Interior via Homepage
JetToken
Recognizing the need for a better system, Jet Token proposes to create a private booking and membership program for business class fliers seeking a more exclusive and affordable option. If successful, users will be able to book a private flight directly from the Jet Token Dapp.
HondaJet
Users will never experience any delays or blackout dates because Jet Token will own and operate a fleet of new HondaJets to accommodate their riders. HondaJets are considered the most cost-efficient private jets in the market currently. Also, these jets have enough room for both cargo storage and passenger relaxation.
Gama Aviation USA
Jet Token recruited Gama Aviation USA to operate and maintain these state of the art aircraft. Gama Aviation USA currently operates the largest fleet of private jets in the US. Also, the firm will be responsible for maintenance and repair on the aircraft.
Jet Token
Jet Token investors receive Ethereum-based equity tokens for their investments. The price per share token is $0.06 with a minimum investment amount of $100.02. Company officials stated that the firm will issue tokens initially on the Ethereum network via smart contracts. After the STO completes, Jet Token will begin migrating services over to its proprietary blockchain network currently under development – Monetarycoin.
STO details
Currently, the Jet Token STO is active. According to Start Engine stats, the company has 162 investors and raised around $61,000 so far. This is much less than the company’s goal of $1.07 million. Five days still remain in this stage of the crowdfunding campaign.
The Future of Blockchain Aviation
It’s no surprise that personalized flight is on the rise. People are tired of the run around major airlines deliver. Now, enterprise-level passengers have a better alternative. If successful, Jet Token has the potential to revolutionize the business flight sector in major ways.
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