FlyJets has pre-launched its secondary exchange platform, FlyJets Exchange, designed to enable peer-to-peer sales of air charter flight spaces, jet card hours, and prepurchased empty legs. The platform aims to give passengers a way to reduce costs while increasing aircraft utilization for aircraft providers. Interested parties can sign up for the Exchange and will be notified as beta testers ahead of the program’s release in the second quarter.

The exchange introduces real-time bidding, outright purchasing, and time-based auction options. It will be available through both FlyJets’ mobile and web-based applications.

An example provided by FlyJets illustrates how the exchange works: A passenger books a charter flight for $20,000 and, in partnership with the aircraft provider for that flight, resells three seats for $9,000 total, reducing their overall cost to $11,000.  

“Now that we’re operating with both automated charter offerings and the forthcoming secondary exchange, FlyJets is primed to drive real efficiency in terms of increasing aircraft utilization within the air charter industry,” said FlyJets founder and CEO Jessica Fisher. She added that interest in group bookings has been high, and the exchange is expected to provide an effective solution for passengers and providers, including potential urban air mobility in the future.

FlyJets’ primary marketplace, which provides automated charter availability at wholesale rates, will continue to operate alongside the exchange. The marketplace uses algorithm-based scheduling to optimize availability and pricing for participating aircraft providers.

As a New York State benefit corporation, FlyJets’ mission is to promote accessibility to air travel and encourage aircraft utilization. Additionally, the company has pioneered a green energy incentive system that rewards customers who opt for carbon offsets or clean energy options with additional FLYRewards for future bookings.

In November, FlyJets announced an initiative to connect charter operators with its 27,000-plus users by helping fill empty-leg flights and offering lower-cost options for travelers. This gave operators the option to list their aircraft, allow FlyJets’ algorithm to track aircraft locations, and offer options to sell flights within a 200-mile radius, maximizing revenue opportunities.