Customers looking for charter business aircraft will be able to deposit $1million on a new loyalty card and access a range of benefits.
The new $1million prepayment card announced on July 18, 2023, is the brainchild of US private aircraft charter broker Paramount Business Jets (PBJ).
It is the first time PBJ has allowed such a large amount of money to be deposited by customers.
Access to the Paramount Jet Card is available with a deposit as low as $100,000, which is locked in a dedicated account available for use only by the cardholder.
At that level it locks in a guaranteed management fee of 16% of the total charges for each private jet trip, or $1,600, whichever is greater.
Larger deposits provide access to even lower management charges and travel credits that may be applied to in-flight catering, automobile rentals, and other concierge services.
A $1 million deposit locks in a 10% trip management fee, the lowest percentage available, and caps the maximum commission per trip at $30,000 for trips priced more than $300,000.
“The Paramount Jet Card provides access to more than 4,000 of the safest and most luxurious private jets in the world with as little as four hours’ notice,” said PBJ founder and CEO Richard Zaher. “The new $1 million deposit tier allows clients to enjoy all the advantages of on-demand aircraft charter on their schedule, without any delay for bank transfers or account verification.”
Zaher noted the Paramount Jet Card also provides added peace of mind for private jet charter customers in an evolving marketplace.
“Clients are also protected in the event of unexpected financial issues with the operator of their scheduled charter trip,” he said. “Our team works with dozens of operators to find alternatives quickly and with no hidden charges.
Unused jet card funds are also fully refundable whenever the client wishes, and there are no expiration dates or monthly service fees.
Zaher launched PBJ in 2005, operating worldwide. The company offers access to a variety of jets including ultra long-range aircraft such as the Bombardier Global 7500 and the Airbus ACJ318.