In this week’s VIP Seat podcast, we talk about:

How not to steal a Gulfstream IV…

At Maryland’s most popular executive airport this week, Martin State Airport, a man was waved through security, hopped on a GIV on the ramp, and started the engines until the aircraft’s pilot stopped him from stealing it. In his bail hearing, he told the judge that he didn’t understand why he was being charged with trespassing when security let him on the field, and he said, “I’d really like to go home. These charges are a little steep.”

FlyExclusive Inks Deal to Take Over Volato’s Fleet

After laying off pilots and returning leased aircraft, Volato (NYSE: SOAR) has entered into an agreement to transfer their fractional owners and aircraft over to FlyExclusive (NYSE: FLYX). 184 fractional and 265 block customers are expected to add $75 million in annual revenue at FLYX. Volato’s share price had plummeted to under $1 in June 2024, down from last year’s high of $17 per share.

US Seizes Illegally Exported Aircraft Sold to President Maduro of Venezuela

The $13 million Dassault Falcon 900EX was sold to a Caribbean-based shell company from a Southern Florida seller. The aircraft was seized in the Dominican Republic by the US Department of Justice. Assistant Secretary for Export Enforcement Matthew S. Axelrod of the Department of Commerce said, “It doesn’t matter how fancy the private jet or how powerful the officials – we will work relentlessly with our partners here and across the globe to identify and return any aircraft illegally smuggled outside of the United States.”

AirShare will eliminate repositioning surcharges

After acquiring Wheels Up's managed aircraft arm last year, AirShare is expanding its services from coast to coast and eliminating positioning charges. We talked on the VIP Seat this week about how private fliers will always pay for repositioning one way or another and how it’s built into pricing. AirShare’s fractional program is unique from its competitors as it sells ownership by the day, not by hours; a 1/16th ownership share is equivalent to 20 days of unlimited flying, with restrictions.

College Athletes Landing NIL Deals with Private Jet Companies

Now that college athletes are allowed to profit on the use of their name, image and likeness, private jet companies are rushing to strike marketing deals with rising stars. University of Georgia Bulldogs quarterback Carson Beck reportedly signed a deal last week with Airstar Charter worth seven figures. Nicholas Air signed the first deal of its kind with Jaxson Dart and later, Quinn Ewers.