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Private air travel takes off after coronavirus travel disruption
Prediction on the future of air travel; Best Buy gets ready for in-store shoppers
Fox Business Briefs: Group representing the airline industry says it won’t return to being profitable before 2022; Best Buy is bringing back 9,000 workers and will be allowing a limited number of customers inside most of its stores, without an appointment.
Private air travel is taking off as the commercial airline industry remains largely at a standstill because of the coronavirus pandemic that is leaving many consumers skeptical about traveling on a major carrier due to health and safety concerns.
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“We have found a segment of the market that has been ignored in large part that have a need for private travel, that being small and medium-sized businesses,” Glenn Gonzales, co-founder and CEO of Jet It, told FOX Business. “People need to travel for business. Sixty percent of annual revenue for the airline business comes from the front 12 seats of the airplane, which speaks to the amount of business travel that is taking place around the country for first- and business-class travelers.”
Jet It’s days-based model, with a rate of $1,600 per hour, allows owners to use the aircraft for the day, which lends itself well in the coronavirus environment in which the multitude of touchpoints can be minimized. It also eliminates the need for hotels or overnight lodging, as the business traveler can visit a client and make it back home within the same day.