Flying high at Low Prices
Wealthy individuals in search of cheap, but classy, flights are beating a path to LunaJets, an internet service that offers them seats in private jets.
The service takes advantage of the fact that every time jets fly someone to a destination they fly back empty. LunaJets, co-founded by Eymeric Segard, has persuaded a string of private jet operators to off er up these spare seats at a discount.
This is done just before the jets take off , normally at between one and 10 days notice.
The rates are fi xed according to the distance fl own and the type of aircraft. A one-hour flight might cost €890. Two hours would cost €1,350.
Renting the whole plane is the only option for fl ights over two and a half hours. An eight hour fl ight by a full cabin of passengers would cost clients of LunaJets a grand total of €25,000. Segard says: “These prices are at premium to business class. But they would be between 50% and 80% of the standard cost of a private jet.
Access is easier than with a commercial flight. You can knock three hours off the total journey time to the heart of New York. People who want to discuss confi dential business can rent a fl ight and impress their clients at the same time.”
Segard now has a register of 1,000 potential users, securing a tithe of 10% when deals are done.
Segard adds: “We are getting interest from private families: seats in planes owned by royalty and professional actors sometimes become available. Owners can share their fl ights to make more money on the side.”
Segard, 40, started his career at investment bank Merrill Lynch. He resigned from advertising agency Ogilvy & Mather in January to start LunaJets. He wants venture capitalists to invest in his business, so he can build its marketing clout.
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