Need a Private Jet in a Pinch? Try This App

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Aug. 14 (Bloomberg) -- Sergey Petrossov, founder and CEO of JetSmarter, discusses the company's private jet charters with Pimm Fox on "Taking Stock." (Source: Bloomberg)

Sergey petrossov.

Did you fly in on -- probably not today.

Unfortunately, i flew in yesterday.

If i paid full price, my cfo would probably have a heart attack.

Tell us the model for jet jet smarter.

It is an app where you can access the entire inventory of private aircraft around the world.

There are over 3000 in our inventory.

You go one, go do your itinerary, you seal real photographs, all the amenities, insurance information, safety history.

You press book, then your credit card, it is cashless, paperless.

People cannot believe that you can book a a private jet with an app.

Heidi have the relationships with the jet owners?

We have over 3000 airplanes in our app today that are controlled by vendors, certified air carriers.

We connect directly to them through their scheduling systems , very similar to how ridesharing apps connect with cars.

When you're searching, you are looking at real-time inventory and exact positioning of airplanes.

We know all the costs associated with flying, so it is really the easiest thing to go into the app and look.

Do you have to be a member and doesn't cost a lot?

Our membership is like a loyalty program, similar to the airlines.

If you're a member commie get discounts come, subsidized rates, loyalty points.

You get a point for every dollar that you spend.

You do not have to be a member.

If you are a frequent flyer, it's worth your while, but if you fly one time per year for a golf trip with your friends, you can book it and fly on whatever you want.

An idea of the costs involved?

Let's say you want to go transcontinental from new york to san francisco.

The average from new york to san fran would be about $25,000. if you want to go upscale, $30,000, you can probably get on a heavy jet.

Oftentimes, there are empty legs available.

That is what you came in on.

Yes.

And the legs are the repositioning flights of air carriers.

There is a lot of empty capacity in the industry.

A lot of times air carriers will give them away for fuel.

If you have a never kraft going from the east coast to the west coast, sometimes it can be $15,000, $20,000, for a 15 passenger jet.

Would you break that down by the seat, it is fairly affordable.

Smaller airports, not served by commercial carriers, are they popular for this kind of air travel?

Absolutely.

New york city, teterboro airport.

California, it is van nuys.

The airport experience is not there anymore.

That is what we are trying to do.

We are not just serving the 1%, although the wealthiest population, they really benefit from our technology.

You don't have to go through the archaic process of going on the phones, waiting hours, using paperwork to book an airplane.

With all of these empty legs coming available, we want the mass public to be accessible to it as well.

Equipment, describe some of the equipment available.

Anything from a king air all the way up to an airbus corporate jet.

Airbus corporate jet?/ i argue oftentimes that my app has the most expensive ticket items in the app store.

If you do a multi-leg itinerary come up for $2 million, and people bought those things.

We have plenty of customers that search for such aircraft.

Do the customers have to be educated?

A lot of private jet travel is based on hours in the air, not how long it will take necessarily, how many miles you will fly, it depends on the kind of equipment plus how fast the plane will go, yes?

A lot of the cost breakdown is based on hours.

Where the industry is headed and what we are trying to do is people only pay for the time they are in the air, were you have true one-way pricing.

That is all accessible through our app.

There are different kinds of airplanes, real-time inventory.

You are searching, you can book a g650, a g4, all the way down to a king air.

Is this drawing in more aircraft owners off of their inventory to offer it to you because they see they can make money by not having their jet the idle or empty?

For sure.

Traditionally a lot of aircraft owners offset their costs by giving their airplanes to these carriers.

These carriers put ours on the planes.

We will probably see in the next five years a lot more airline type companies come into the play.

There will not really be owners behind it, it will be owned and operated fleets because they will be able to put somebody hours on the planes based on technologies like mine.

Would you like to be the uber of private jet travel?

It would be an honor for us to be called that.

That is what we are trying to

This text has been automatically generated. It may not be 100% accurate.

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