How does Paramount Business Jets’ service compare to services like NetJets and Wheels Up?
NetJets and Wheels Up are two very big names in the aircraft fractional ownership and charter industries. Both offer excellent products and own and operate their own fleets; Gama Aviation operates nearly 100 planes for Wheels Up, while NetJets operates more than 700 private jets. As a private jet charter broker, Paramount Business Jets (PBJ) does not operate or own aircraft – but the company does have access to more than 4,000 certified, premium jets through various operators.
How do these options compare? Without question, the fractional ownership model is the most expensive, with lots of commitments and upfront costs. NetJets clients often fly more than 50 hours a year, which allows them to partially offset these costs and reduce the per-hour expenditure. For those that fly less than 50 hours annually, NetJets offers a fixed hourly jet card via its subsidiary Marquis Jets, also at premium rates. Both entities offer Light, Mid and Large jets to their clients.
Like Marquis Jets, Wheels Up also utilizes a membership/jet card operating model, but one geared toward more cost-conscious clients. Wheels Up offers its customers the option of flying onboard more economical Turboprop aircraft, in addition to Light jets and Midsize jets. Unlike NetJets, Wheels Up operates flights almost exclusively within the continental United States.
What Makes Paramount Business Jets Different?
Paramount offers its customers access to all kinds of aircraft, from Turboprops and Very Light Jets to Light, Midsize, Super Midsize, and Large Jets, and even VIP airliners. The diversity of options available to PBJ also means more potential choices available to fulfill their clients’ specific missions, exactly when they need to fly.
PBJ is also the most cost-effective choice for clients, with the least amount of commitment. There are no upfront costs for Paramount’s debit Jet Card model or on-demand charter options; clients instead approve and choose aircraft on a per-trip basis, offering them even more flexibility in selecting the best option for them.
One advantage offered by NetJets and Wheels Up is consistency, both with their pricing and in how their aircraft are outfitted. The greater number of options available to Paramount Business Jets also means greater potential for variability to onboard amenities and cost structures.
That said, PBJ utilizes more than a decade of client feedback to put together the finest fleet available in the industry. Paramount also utilizes third-party operator safety audits to ensure their clients are flying onboard the safest aircraft available, and clients are also able to specify the age of the aircraft they prefer.
Learn more about the different private jet access models.
Comparison of Pricing for Different Aircraft Categories
Wheels Up offers the King Air 350 turboprop after an upfront membership fee of $17,500 USD, for $4,695 USD per hour. By comparison, Paramount offers the King Air 350 for around $2,200 USD per hour and no upfront cost.
NetJets charges a one-time acquisition fee to obtain a fractional ownership stake in a specific aircraft type, with shares starting at 1/16 interest and 50 hours of annual flight time with a minimum three-year commitment. The company does not operate or offer propeller-driven aircraft.
When it comes to jet card options, a light jet from NetJets’ Marquis Jets starts at around $6,600 USD per hour. Wheels Up starts at around $7,600 USD per hour, with no minimum hourly commitment, and Paramount starts at around $2,700 USD per hour.
Again, the difference is that PBJ offers a greater variety of available aircraft to complete their clients’ mission, including both older and newer turboprops and jets. Wheels Up and NetJets also offer a more consistent onboard experience, both in aircraft age and interior configurations, although older aircraft are held to rigorous maintenance and safety standards and often have newer interiors as well.
With NetJets and Wheels Up, clients do not have to pay separate repositioning fees; these are already included in the higher cost of their fixed pricing models. While repositioning fees may come into play with PBJ, they will be listed separately so that clients know exactly what they’re paying for – and even then, Paramount typically offers much lower costs overall.
Which Private Jet Model is Best for You?
NetJets – Fractional Ownership and/or Fixed-Rate Jet Card, Closed Fleet: These are premium and expensive options, which are typically best for clients flying more than 50 hours per year.
Wheels Up – Fixed-Rate Jet Card, Closed Fleet: Best for clients flying 25 to 50 hours per year
Paramount Jet Card – Fixed-Rate Jet Card, Variable Fleet: Best for clients flying 25 to 50 hours per year, with much greater choice of available aircraft
Paramount On-demand Charter – Variable Pricing and Fleet: This option is typically best for clients flying less than 25 hours per year, with the least amount of commitment.
Although PBJ, NetJets, and Wheels Up are competing services, in truth, they also complement each other and are all based on serving specific client needs and preferences. Clients may even choose to utilize all these services to gain the ultimate value and cost savings.