Jet Token, Inc

Private Aviation Platform

Jet Token, Inc

Private Aviation Platform

Las Vegas, NV
Travel & Tourism
Software & Services
Jet Token is a private jet membership and booking platform for the ultra-modern age of aviation. For the first time, you will be able to use one app to book a private jet, a commercial airline ticket or both, all on the same itinerary. To support our app and membership program, we plan to lease a small fleet of HondaJets for membership and charter service in the Western US.

$5,053,893

raised
$0.30
Price per Share
Equity
Offering Type
$99.00
Min. Investment

$5,053,893

raised
$0.30
Price per Share
Equity
Offering Type
$99.00
Min. Investment

Bonus Rewards

Get rewarded for investing more into Jet Token, Inc

$500+
Investment
Upgrade Tier
Invest $500+ and receive a HondaJet Red Baseball Cap
$2,500+
Investment
Business Class Tier
Invest $2,500 and receive a custom HondaJet Coffee Mug
$5,000+
Investment
Business Comfort Tier
Invest $5,000+ and receive the above + HondaJet desktop model
$25,000+
Investment
First Class Tier
Invest $25,000 and receive a HondaJet plant tour in Greensboro, NC followed by lunch with JetToken CEO (desktop HondaJet model included)
$50,000+
Investment
Executive Tier
Invest $50,000 and receive a HondaJet plant tour in Greensboro, NC followed by lunch with JetToken CEO and a group flight on the HondaJet (see more details in The Offering section)

Please be sure to see our Offering Circular and risks related to this offering on our SEC EDGAR filing page for additional details.


Jet Token is a private jet membership and booking platform for the ultra-modern age of aviation. We envision a time when, for the first time, travelers will be able to use one app to book a private jet, a commercial airline ticket or both, all on the same itinerary. To support our app and membership program, we plan to lease a small fleet of HondaJets for membership and charter service in the Western US.  Through blockchain technology, we expect to allow those who buy 25-hour memberships from us the option to sell a portion of any unused time to other App users – a new feature in the private aviation industry. We have a signed deposit agreement with Honda Aircraft Company for the lease of up to 4 HondaJets and a signed letter of intent with Gama Aviation for the management, operation, and maintenance of our HondaJets. The preferred terms of those agreements give us the confidence we can build a profitable business.  Jet Token innovations offer travelers more freedom and more choice, but we need your vote.


Jet Token makes money in two ways:

  • We use our platform to sell private jet charters

  • We plan to sell 25-hour memberships and charter time on our fleet of leased HondaJets

Images are of the type of aircraft we intend to lease

Reasons to Invest

  • Live product: We launched the JetToken app in the iOS store in the third quarter of 2019 and plan a new version for both iOS and Android in early 2020. The new version will feature instant booking and instant payment. Then, later this year we intend to offer an update of that app with two features: (a) the convergence of private and commercial booking and (b) the transferability of private jet membership time.
  • Leading partners: We have a signed deposit agreement with HondaJet, the aircraft manufacturing subsidiary of Honda Motor Company, and a signed letter of intent with Gama Aviation, one of the largest aircraft management companies in the United States. Gama Aviation has a managed fleet of over 200 aircraft in 45 different locations in 17 countries.
  • Already raised $1MM from 3,700+ investors: Seasoned executives helped craft the business model and we led a heavily oversubscribed $1.07M Reg CF round of financing with 3,704 investors.
  • Large market: The high price of private aviation flight time and the customer’s desire to manage that cost help explain how another innovator in the private aviation industry, MarquisJet, was able to go from zero to $150mm of sales in only two years. While this is no guarantee of Jet Token’s performance, the broader point is that a small number of customers can translate to large dollar sales in a relatively short period.


Images are of the type of aircraft we intend to lease

The Problems


1) No Expedia for private jets

When it comes to booking travel, the private jet industry is far behind commercial aviation. Because no reliable portal for private air travel exists today with prices as transparent as those for commercial airlines (i.e., Expedia and Travelocity), it’s hard for private air travelers to know if they are being charged a fair price. Operators typically take hours to confirm bookings and there is no system where customers can combine a private and commercial aviation booking. 

2) Blocks of jet time are costly to resell!

Memberships (and fractional ownership) programs have big up-front costs, no refunds and restrictions on the transfer of flight time. Even those programs that offer members an early exit usually do so only with a steep penalty.

The Solutions


An app that makes booking private air travel a breeze

We are developing our platform so that it can also be used to combine commercial and private travel, worldwide, on one itinerary, creating a seamless experience for travelers. In addition to the pricing of our own aircraft, Jet Token’s new booking app displays a variety of options across private aircraft types with a range of prices drawn from a list of thousands of aircraft. We intend to offer instant booking or the option to ask us to seek and present a lower-cost alternative. Having our own fleet of HondaJets is expected to provide the backup we need in the event we charter a plane and the operator of that plane cancels the last minute.

Images are of the type of aircraft we intend to lease

The Market


Private jet travel is a multi-billion dollar industry

  • According to the NBAA, the business jet industry contributes $200 billion dollars per year to the US economy.

  • The average flight lasts 1.5 hours with 2-3 passengers, and we estimate the average charter rate of a US business jet at $5,000/hr. That mission profile hits the HondaJet’s sweet spot and we intend to charge meaningfully less than $5,000/hr for twenty-five-hour blocks of time on our HondaJets.

  • Most one-way charters include the cost of the empty return leg so a 1.5-hour trip typically translates to 3 hours of billed time, or ~$15,000.

  • Business jet charter operators logged over a million landings in the US during 2019. 

One million charter landings per year x $7.5k per leg equals $7.5bn in charter landings alone

Images are of the type of aircraft we intend to lease

How We Are Different


We book private and commercial jets together and members may resell unused jet time without penalty, all thanks to blockchain technology

Although the FAA lists approximately 2,000 Part-135 operators (many with just a single airplane) we count roughly 35 competing programs and note the following because of their scale: NetJets, Vista Global/JetSmarter, WheelsUp/Delta Private Jets, JetSuite, FlexJet, and JetLinx.

We compete in three ways. First, with blockchain technology, we offer members an alternative to sell time they might not need if their travel requirements change after paying upfront for an expensive membership.  Second, for those who mix private and commercial travel on the same itinerary, we offer our App. Third, by being blockchain payment compatible we cater to the tech-savvy who have created over a hundred billion dollars of wealth in the past decade and who expect merchants to make their payment systems more compatible.

The OFFERING


Investment

$0.30 per share of Non-Voting Common Stock at a $46mm post-money valuation.


What We Do


HondaJet membership in the Western US and an app for global charter

  • We use our platform to sell private jet charters (and plan to later integrate commercial bookings - all on one itinerary)

  • We plan to sell memberships  with packages of flight hours on our fleet of leased HondaJets


Why combine private and commercial bookings? Savings. A private jet flight booked directly from London to a smaller US city on the West Coast might cost a whopping $110,000. That same travel plan, broken down into a first-class commercial ticket from London to Los Angeles, and then a private jet flight from LA to that smaller city, might cost only 15% of the fully private direct option.

Why accept both traditional and blockchain forms of payment? This may allow for faster booking confirmation of air charter flights, particularly on weekends and holidays coinciding with periods of peak travel demand (when banks are generally closed). We have taken special care to understand and accommodate the payment preferences of the new tech-savvy flyers who have seen their wealth grow with blockchain.

Our Traction


Along with 3,700 other shareholders, we're moving quickly

  • We’ve begun charter brokerage operations

  • We successfully raised $1.07M in an oversubscribed Reg CF offering from more than 3,700 investors

  • We have an app in the iOS store that facilitates our ability to book third party charter and empty legs worldwide

  • We have a deposit agreement from HondaJet and a letter of intent from Gama Aviation USA, respectively, for the phased delivery and operation of four aircraft.

  • We have a smart contract on the Ethereum network running for demonstration purposes (PPJC). The Founder has successfully executed a separate blockchain project and for this reason, has confidence around the continued development of the booking platform.

OUR TEAM


Experience in the air and on the ground

Our team is passionate about bringing the best platform possible to private air travel. CEO George Murnane has over thirty years of experience in aviation and is a pilot with commercial, instrument and multi-engine ratings. He was most recently employed as CEO of ImperialJet, where for seven years he ran a European private jet charter company that operated its own private aircraft. Prior to ImperialJet, George served in various executive roles in the private and commercial aviation industry including COO/CFO of Vista Global and CFO of Mesa Air. Before aviation, George spent a decade as a successful investment banker in the transportation industry group of Merrill Lynch. He is a graduate of the University of Pennsylvania (BA) and The Wharton School (MBA).

Our board of advisors brings extensive industry knowledge to the team and includes former senior officers from FedEx, Embraer, FlexJet by Bombardier, IAF and the founders of GoGo Jet and Myjets.com, respectively. 

Why invest


Join the 3,700+ investors and help change the future of private aviation

Private air travel is a highly fragmented industry undergoing consolidation. While commercial aviation has seen meaningful evolution in its booking systems, private aviation has lagged. Jet Token offers an opportunity to invest in a membership and booking platform for the ultra-modern age of aviation.

 

We make money two ways, the booking platform, and memberships. Seasoned executives helped craft the business model and our proposed aircraft lease and operating terms allow us a unique financing advantage for a new company. We have a live IOS App, a deposit agreement with HondaJet and a letter of intent with Gama Aviation USA.

 

The price of an hour of flight time and the customers' desire to manage that cost help explain how another innovator in the private aviation industry, MarquisJet, was able to go from zero to $150 million of sales in only two years. We are eager to build shareholder value and with your help, bring new jobs and new technology to democratize private travel.

 

We are eager to work in your interest!

Images are of the type of aircraft we intend to lease

FAQ


Have questions? We have answers.

Why have planes?


The most important feature one can deliver in private aviation is safe, guaranteed, capacity on demand.  No one needs another charter broker without assets to facilitate customer orders. As mentioned above, there are an estimated thirty-five days a year, including holidays and big sporting events, where it is nearly impossible to instantaneously charter a private jet. Only membership programs offer guaranteed aircraft availability. In addition to being available for members, our own fleet of HondaJets may allow us to offer a charter customer an alternative in the event a third-party operator booked through our app cancels a reservation at the last minute.


Why HondaJet?

We believe the HondaJet is one of the quietest and most cost-efficient light jets on the market and is ideally suited to the average US business jet mission profile mentioned above (2-3 passengers, 1.5 hrs). Engines on the wings mean less weight on the tail and more room in the cabin. The wing-mounted engines allow for a tranquil, spacious interior with generous baggage space and a fully enclosed lavatory. Below feel free to view this informative video on the HondaJet.

Images are of the type of aircraft we intend to lease

Who flies the planes?


Gama Aviation, the largest open fleet of private jets in the US and third-largest operator of private aircraft in the US. We intend to contract with Gama for all flight operations and repair. Gama Highlights:

  • Participant in the FAA Safety Management System Pilot Program Level 3

  • IS-BAO Registered

  • NBAA Certified Aviation Managers Program

  • ISO 9001:2015 Certified

  • FAA Eligible On-Demand Approved

  • ARG/US Platinum Rated

  • Wyvern Recommended

  • ATOS Compliant Manual System

  • FAA Diamond Award-Winning Maintenance Department

  • ACSF Registered

What about safety?

Gama Aviation USA and HondaJet together already successfully operated and maintained HondaJets in two separate markets on the East Coast. Gama can assist us to safely provide substitute aircraft at competitive rates in the event we experience periods of excess travel demand.

All pilots will be trained at the FlightSafety international campus in Greensboro, NC - right next to the HondaJet plant. And we should know, we visited both facilities to see for ourselves. The HondaJet has built an excellent track record for safety, but don't take our word for it: see for yourself.

AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT. THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT CAN BE FOUND HERE


THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY.  THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT.  WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD-LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS.  INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE.  THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.



In the Press

Ridesharing With Airplanes, on Blockchain: Mike Winston of Private Jet Coin Explains
November 17, 2018

So, your cryptocurrency bag hasn’t 'mooned' enough to afford your own private jet yet? Private Jet Coin chairman Mike Winston says there are other options, and you could book them using a blockchain-based platform. His company took third in CoinAgenda USA 2018’s most promising startup competition.

Coindesk

US Startup Raising $10 Million for Private Jets You Can Lease With Crypto

Crowdfund Insider

Jet Token Files Reg A+ Offering, Plans to Follow in Turnkey Jet’s Footsteps with Non Security Token

EVA

Jet Token is raising $10 million for Ethereum-based private jets marketplace

pymnts.com

Bitcoin Daily: Jet Token Seeks $10M For Crypto-Based Jet Leasing Marketplace

Yahoo! Finance

Soaring value: Private jet firm plans to sell charters with Ethereum

Updates

In depth interview: Jet Token Wants to Become the Uber of Private Jets by John Jannarone IPO-Edge.comJuly 28, 2020

4 hours ago

https://finance.yahoo.com/news/interview-jet-token-wants-become-192538596.html

Excerpts - 

Do you have a timeline on when you think flying will return to normal?

Because aviation is economically sensitive, a prediction about flying returning to normal has embedded in it a prediction about the economy returning to normal. We cannot predict the economy, but that said, we can reliably say that private travel has rebounded more quickly that commercial travel. Private jet charter hours, a key measure for our sub-segment of air travel, dropped sharply in mid-March but have steadily risen since that time. For example, hours flown in the two-week period that includes the last week of June and the first week of July are only down 10% vs the same period in 2019. We suspect that those who can afford it are flying private to avoid infection, and that travel by these new flyers, alongside returning flyers, has accelerated the rebound in charter hours.

Can you talk about your fleet of leased HondaJets? Many people probably haven’t flown on them before.

After 20 years of development and five years in service, the HondaJet has earned a reputation for reliability, comfort and speed. It’s unique over-wing engine design makes for a roomier, faster and quieter travel experience. The average U.S. private jet flight runs about an hour and half and carries two to three passengers. The HondaJet can carry four passengers a little over two hours and is therefore ideally suited to most trips. We noticed that the six-person Citation 560/XLS is the most commonly landed private jet in the U.S., but the data suggest this asset is typically flying one third its range and with only one half its potential passenger load. Translation? Flying the average mission profile on the most commonly landed jet is overkill and more costly. The world’s largest manufacturer of combustion engines (Honda Motor Co.) has seen this economic dissymmetry and stepped into the sweet spot of the market with HondaJet. We’re proud to be a part of the HondaJet story; and as an aside their plant in Greensboro, NC is a technical marvel.

By getting the engines off the tail and onto the wings HondaJet has created a quieter cabin experience and a large baggage compartment that can handle large form factor items with ease. Also, unlike some other light jets, the HondaJet offers a fully enclosed lavatory, and a galley for snack and beverage service. Can the HondaJet be configured for five persons, with an additional sixth person seated in the belted lavatory area? Yes. Do we recommend it for optimal comfort? No. But for urgent travel the HondaJet is versatile enough to rise to the occasion.

Mr. Wonderful Interviews Jet Token

10 days ago

In a new episode of Meet the Innovators, Mr. Wonderful sat down with Jet Token, a private jet charter and membership company that’s integrating blockchain technology into private aviation. Watch to see his discussion with CEO George Murnane and Founder & Chairman Michael Winston.



Invest today, live on StartEngine! Thank you for your support!

This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.

Interview with Jet Token's George Murnane (CEO) and Mike Winston (Chairman)

14 days ago

Check out this brief interview with Jet Token CEO George Murnane, and Mike Winston, Chairman.


Interview with Jet Token CEO George Murnane

20 days ago

Check out this brief interview with Jet Token CEO George Murnane!

Thank you for your support! 

Over $4M Invested!

25 days ago

Wow! $4mm raised from over 13,000 investors! Thank you for the overwhelming response to this offer!

Following the campaign and planning to invest? Act today!

Already invested and planning to add more? Now is a great time to act!


Thank you for your support!


Disclaimer: This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. 

Over $1M invested!

3 months ago

Wow, we have surpassed over 7,000 investors. We are excited to share some new updates with you regarding our continued progress which is all made possible by your investment.

Spread the word and help make private aviation the future of air travel!


Wow just passed $800k raised!

3 months ago

Over $800k invested! Invest today in skipping the airport!

Thank you to the StartEngine community for your support!

Private jets can land at 5,000 private airports, no crowds.

Act now!

Invest Today!

5 months ago

Jet Token CEO George Murnane interviewed by George Levy of BlocksEDU at the Gama Aviation Signature hangar in Las Vegas, NV.


We're back! Invest today via StartEngine!

6 months ago

Thank you to the StartEngine community for the overwhelming response to our last offering.

For those who missed us the first time around, now is a key time to invest early!


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