Mumbai-based private jet aggregation startup Bookmycharter has started a ‘Ferry Flight’ concept where in a client can let other passengers travel en route on empty seats.

In private jet business, a client generally pays for the to-and-fro cost of a jet parked in a base distant from their pickup city. Ferry flight concept removes the cost of two-way payment for a client.

“Private jets are meant for the ultra-rich and privileged ones but we have commoditized the whole space by making the private jets available for a common man through ferry flights,” said Sachit Wadhwa co-founder of Bookmycharters.

On ferry flights, a client can opt to let other passengers travel for a price determined by the client.

“Globally around 30 percent of private jet flights are flying empty. Maintaining a private charter is also a tough task to make it run efficiently. It sounds better when one can monetize through an empty flight and even give the experience to common customers,” said Wadhwa.

So what are ferry flights?

Private aviation in India is in dire need of infrastructure. Because of lack of space, the jets keep of repositioning themselves from one location to another.

Here is how the concept works: Suppose a client in Mumbai needs a private jet to fly to Los Angeles. Now as there is lack of parking space in a Mumbai airport. The jet is generally positioned in Ahmedabad.

The concept of ferry flights works here – rather making an empty jet fly from Ahmedabad to Mumbai, the charter makes a trip with a number of seats sold out to passengers with a discount of 80 percent of the average cost.

“We recently had a group of youngsters who flew private jet trips to Goa from Kolhapur with the cost of Rs 5000 per seat,” said Wadhwa.

Ferry flights are known as ‘empty leg flights’, ‘empty leg of a private charter’ or ‘repositioning flights’.

“The concept works for customers who want to fly private but don’t want to book an entire plane,” said Wadhwa.

Price of an empty seat on a private jet

If the client book a charter from Delhi, but the base of the jet is in Mumbai. The cost of the empty leg from Mumbai to Delhi will have to be paid by the client, which increases the cost.

“The client always ask us that why they have to pay for an empty leg when his flight is booked from Delhi. To solve this problem we came up with a concept called ‘Sell your empty flight’, said Sachit.

With ferry flights, private jet clients can save up to 40 percent of the cost.

Clients can choose to price the seat from a price band provided by BookMyCharters.

“After choosing the price band we upload the price list of per seat cost on the particular private jet from Mumbai to Delhi,” shares Wadhwa.

The empty seats are available on the promotions section of the website.

“Whatever money is received is given to the client but we make sure that the client pays us the full amount to us before selling his empty flight,” said Wadhwa.

BookMyCharters retains a commission of 20 percent to 50 percent of the price of empty seats sold.

Suppose the client has to pay Rs 8,00,000 for a private jet including an empty flight from Mumbai to Delhi. The client can sell the empty flight through Bookmycharters and can get 20-50 percent of the amount refunded, in this model.

“We work as a custodian for both our client and the customers. So there is a fair deal for both of them,” said Wadhwa.

Reproduced with no changes from Moneycontrol.com