While soaring isn't an apt description for the economy, there is one sign it is climbing-more businesses are paying for private commercial flights. Private Jet Services (PJS), a third-party aviation charter logistics company based in Seabrook, has grown revenue 45 percent annually since 2009. Private Jet Services went from arranging a couple hundred flights in 2008 to 1,672 in 2012.
CEO Greg Raiff says the recession was the best thing that could have happened to him as it forced the company to reconsider its business strategy. It's been an incredible run. It took losing all the luxury leisure high-end net-worth private flyers making discretionary vacation plans to force us to rethink our business strategy, says Raiff.
The company is now focused on private commercial flights. Its clients range from government officials and Fortune 500 companies to sports teams like the Boston Bruins and entertainment groups-those who need quick transportation and must get to their destination on time with all their gear.
Raiff says the mergers and acquisition activity in recent years is also good for business, as companies with disparate locations hire him to shuttle employees between offices. About 80 percent of the company's revenue is generated by 20 percent of the flights-those with 30 passengers or more. A PJS employee travels with larger parties to manage logistics including ground transportation, catering for in-flight meals, and customs. The company puts in about 10 hours worth of planning for every hour a client is in the air, Raiff says.
When you think of a commercial flight, it's all the time before you take off and after you land where the hassle exists, Raiff says. We get paid by our customers to invest the time beforehand to make sure their flight is as hassle-free as humanly possible. He says those who fly privately are paying to ensure they arrive on time with luggage intact.
Private Jet Services faces stiff competition, but Raiff says the company's attention to detail and preparation time set it apart. PJS has 25 employees, up from 16 in 2008, two-thirds of whom are in NH and the rest spread among five satellite offices. For more information, visit www.pjsgroup.com.