2021 Holiday Travel Advisory

Greetings,

In my most recent CEO Newsletter, I referenced the historic demand which exists in the marketplace today. Already in 2021, we have seen bookings of private aircraft increase by 44% year-over-year compared to 2020. Overall private jet utilization following the peak of the COVID-19 pandemic has reached the highest levels since 2007. This demand has created market compression, which, combined with a lack of inventory, has resulted in very limited availability of aircraft across all categories.?The light and mid-size cabin aircraft categories are most impacted, resulting in several national brands taking austere measures, such as extending blackout periods through the end of 2021, or entirely shuttering their programs.?Still, other “big box” programs have ceased renewing their existing customers or accepting new clients.?Given the current market state, PJS anticipates that aircraft availability will continue to be in short supply throughout the holiday season, far outstripping supply through the Thanksgiving week as well as from mid-December through January 2nd.?

Whereas PJS has benefited from an influx of new client inquiries (likely resulting from the shutdowns and service issues experienced by other firms), we feel obligated to always ensure that we take care of our existing clients before considering the needs of newcomers. PJS is fortunate to still fly every client we flew our first year in business 18 years ago - this group of loyal patrons must come first.??

We are encouraging all of our clients to book their travel early to receive the widest range of aircraft options for consideration and optimal pricing. As the peak travel period grows closer, the scarcity of departure time slots, properly trained and experienced pilots, and one-way availability will present challenges for last-minute reservations.

Veteran flyers will remember the shortage of aircraft parking at Cabo or the shortages of jet fuel in late December at popular holiday spots including St Maarten, St Kitts, and Anguilla.?With the peak record volume of flying coupled with supply chain issues, we are focused on solving problems for our clients far earlier than in years past.??

Our goal is to provide you with seamless flight experiences from start to finish.?We can best accomplish this mission with your help.?By sharing with us your travel plans over the upcoming festive season, you allow us to proactively curate the best aircraft options for your journey. The VIP team at PJS will keep you informed as industry conditions evolve so that you can always make a fully informed decision.

On the inventory and supply front, PJS has just secured additional leases on premium, late model aircraft, including Gulfstream G650ER, Bombardier Global 7500, and Cessna Citation X+ jets. In the weeks ahead, I expect to share more of these wins, so PJS can continue to stay ahead of this extraordinary spike in flight activity.??

Perhaps more important than the bare metal, we have doubled our headcount this year, and are already engaged in doubling our staff size again in 2022. It is so important that, as PJS grows, our staff does not lose the intimate, first-hand knowledge of your needs. In order to retain the boutique experience that is a hallmark of PJS, we will segment our team into two smaller pods in the months ahead.?One team will serve our key Enterprise/Corporate accounts, and the other team will support our Sports, Music and Entertainment clients. As part of this initiative, we have pulled into our team my dear friend and colleague Reid Oslin, who has worked at PJS for almost twelve years. Reid is one of the best in our business and will work closely with me to ensure that our VIP Pod continues to deliver for you. I know that you will enjoy working with Reid as much as I have.??

Wishing you and your family a Happy Holiday Season ahead.

All my best,?

Greg Raiff, CEO, Private Jet Services