The last month has proven to be a tough one for a couple of private jet companies. First, Aspen Executive Air (doing business as Aexjet) filed for bankruptcy protection, according to Chris Walsh of the Rocky Mountain News. Aexjet sells jet memberships, and also provides maintenance and other operations for owners of private jets.
“Officials said the filing allows Aexjet to continue day-to-day operations and renegotiate lease agreements as it prepares to merge with a similar company.”
Then earlier this month, FAA regulators suspended the operating certificate of AMI Jet Charter Inc as part of an effort to scrutinize aircraft charter companies.
Andy Pasztor, of The Wall Street Journal (subscription required), writes that the FAA’s
“…emergency action takes about a tenth of top-of-the-line Gulfstream, Falcon and other large corporate jets off the charter market int eh U.S., at least temporarily.”
Tag Aviation owns 49% of AMI, which is appealing the suspension. AMI is the “highest-profile firm targeted so far”, and company officials say they have “taken every required step” to comply with regulations and that AMI has a clean record.
FAA officials contend AMI violated federal rules by allowing Tag Aviation’s U.S. unit to operate the chartered jets on its own; in addition, the FAA said mandatory maintenance was not completed and the pilots did not have adequate rest time.
The FAA is continuing to evaluate other charter operations.
According to Pasztor’s article:
“…owners of expensive business jets leave it to a maze of agents and brokers to arrange and operate charters when the planes otherwise would sit idle. This is the case with Tag Aviation’s U.S. unit, which directly manages 100 aircraft, primarily owned by large companies or celebrities, and also arranges charters for many of the same planes. Now, as long as the suspension remains in effect, those planes can’t be chartered through AMI.”