There has been a market for private jet travel for years; however, Sergey Petrossov has taken this world and turned it upside down. In the past, the market for private jet travel was estimated to be worth around $15 billion. For an industry of this size, it might sound like there isn’t a lot of room for anyone else to access it. Petrossov and his young company, JetSmarter, have proven everyone wrong. His company is already valued north of $1.5 billion despite only being on the market for a few short years. He has done this by exploiting an opening in the world of private jet travel.
Taking Advantage of Unused Flying Time
Petrossov and JetSmarter have worked their way into the business of private jet travel by taking advantage of unused flying time. The utilization of private jets has fallen far short of its maximum for years. These jets are only, on average, flying about 200 hours per year. Many of these flight hours are completely devoid of any passengers at all. Because these planes can be used for as much as 1,500 hours per year, there is so much unused flying time. Petrossov knew that his company, JetSmarter, could take advantage of these unused hours if they simply made them more accessible. Furthermore, these numbers don’t even take into account the numerous propeller planes that have unused hours as well. The goal of Petrossov and JetSmarter was to take advantage of these unused hours. They have done this successfully.
A New Market for Private Jets
Petrossov knew that one of the barriers to private jet travel was how hard it was to book a flight. He has fixed this with a convenient phone app. Those who use JetSmarter are able to access flight availability with the push of a button. This contributes to more flights, more passengers, and more money. JetSmarter has changed the world of private jet travel.