Charter Aircraft Toronto - Launching an air service when the COVID-19 pandemic has crippled commercial aviation is, to put it charitably. But the Toronto-based founder of Momentum Jets says interest in private jets is high as affluent Canadians seek safer and more convenient ways to fly, including those who have never chartered a plane.
Momentum Jets is also trying to expand access to luxury private jets from the ultra-rich to just the rich. Instead of chartering an entire flight, which is typically done by the hour and can cost anywhere from $10,000 to $250,000, Momentum will allow customers to purchase individual seats on a private jet for select routes.
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"We thought about how to make this more accessible to people," said Janelle Brandt, vice president of Momentum Jets. A seat on a Toronto-Montreal flight can cost between $600 and $800 round-trip, while long-haul flights to islands such as Barbados and Turks and Caicos can cost up to $5,000, roughly double the cost of a business class seat.
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The company was launched in October as a subsidiary of Momentum Solutions, a firm led by Toronto entrepreneur Stephen Arbab that provides emergency aviation and disaster relief services, along with cargo transportation. The jet division does not own any aircraft, but has aircraft from other companies. Momentum charters full jets for customers, like traditional private jet services.
But it also provides access to private jets for sale of individual seats to top destinations from Toronto, including New York, Miami and the Bahamas. That still means flying with strangers - just less than a normal commercial flight.
For the company, margins are low, in the 3 to 5 percent range, Mr. Arbab says. "It's a big deal," he said. But he and his staff are confident demand is strong. Some Canadians are eager to travel, Ms. Brand said, but are wary of crowded airports, long lines, security checks and sitting side-by-side with others on commercial flights. As a result, some people consider taking a private flight for the first time, which is faster, more convenient and involves less interaction with other passengers.
"What we're seeing is a lot of upper-middle-class people are saving up for big-budget travel," Ms. Brandt said. He recently had a family flight to Anguilla and another to Barbados. Because the islands are so close, Ms. Brand put both families on the same flight so the costs could be shared. Some customers are temporarily moving to cooler destinations due to the pandemic and continuing to work from there instead of taking a busy vacation.
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In January, the company plans to offer flights exclusively to passengers over the age of 65, who will have to show a negative test for COVID-19 before boarding. If necessary, Momentum Jets will refer customers to a company that provides home testing. "We want to offer flights where they feel very safe," Ms Brind said. However, travelers must comply with local regulations once they arrive in their destination countries, which may include a period of quarantine.
The federal government advises Canadians to avoid non-essential travel, and even a pre-flight COVID-19 test is not foolproof because there can be at least a day or two between the test and the flight. Ms Brind said the company would ask customers to self-isolate during that period.
Overall, private flights in North America are down this year amid the pandemic. The number of private flights decreased in April and March, but a slow recovery began. American airline services company Argus International predicts that the number of private flight hours in December will total 300,772, which is 21.5 percent less than the same month last year.
For the competitive air charter service, which has offices around the world, including in Toronto, the decline in private flights among business executives has been sharp. "It was difficult because not all of our regular customers fly," said Andy Christie, the group's director of private jets.
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In the early days of the pandemic, private jets were in demand as wealthy people sought the fastest way to get home or escape to an estate in, say, the Bahamas. Since then, they mostly travel.
However, Mr. Christie said interest from new buyers helped offset those losses, with volumes down slightly overall. In Canada alone, he said the company has seen a 41 percent increase in new fleets, many of which are looking for leisure travel.
The company is betting that these customers will continue to fly privately even after the pandemic ends and commercial aviation resumes. "There are a lot of wealthy Canadians who used to fly first class and now have the opportunity to fly on a private jet," said Mr. Christie. "It's a very flexible product."
That's why Moment plans to expand to offices in New York and London. "Covid has changed attitudes in a big way and this will be one of the industries where attitudes will change," Ms Brand said.
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He also has a bon mot ready for first-time private jet buyers: "Once you've had Godiva chocolate, you never go back to Cadbury."
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