Jet.AI Launches Reroute AI Software to Intelligently Repurpose Empty Flight Legs for 5,000+ U.S. Part 135 Charter Operators
Platform Recombines and Reprices Empty Flights to Enhance Profits and Sustainability
LAS VEGAS, Jan. 31, 2024 (GLOBE NEWSWIRE) -- Jet.AI Inc. (“Jet.AI” or the “Company”) (NASDAQ: JTAI), an innovative private aviation and artificial intelligence (“AI”) company, today announced the launch of Reroute AI – a web based software tool designed to transform the way empty flight legs are utilized, with a focus on passenger experience, profit optimization and environmental sustainability.
By intelligently altering empty flight legs and repackaging them as new charter flights, operators utilizing Reroute AI stand to unlock additional profits without any new investment. New profits are partially derived from the fact that filling an otherwise empty plane reduces fuel consumption.
“Unlike others in the private aviation space, the team at Jet.AI decided to stop trying to tackle the ‘empty leg’ problem and instead aimed to solve a ‘reroute the leg problem,’” said Mike Winston, Executive Chairman and Founder of Jet.AI. "This small shift in perspective made all the difference. With Reroute AI, we focused on the abundance of commercially viable options outside of the brittle approach of forcing customers into fitting their travel plans into the unused routes of other customers. We found that a little route adjustment went a long way.”
Reroute AI allows operators to work with their own empty inventory or to purchase new charters constructed from empty legs of other operators. By prompting operators to enter a city pair, passenger load, travel date and profit minimum, Reroute AI has the power to create new itineraries that are more cost effective, efficient and considerate of emissions. The empty return journey of a chartered jet is a common pain point in private aviation and Reroute AI allows the 5,000+ FAA Part 135 charter operators in the U.S. to easily repurpose one way inventory into new charter flights with the help of its algorithm.
To learn more about Reroute AI, visit: https://jet.ai/login
Jet.AI operates in two segments, Software and Aviation, respectively. The Software segment features the B2C CharterGPT app and the B2B Jet.AI Operator platform. The CharterGPT app uses natural language processing and machine learning to improve the private jet booking experience. The Jet.AI operator platform offers a suite of stand-alone software products to enable FAA Part 135 charter providers to add revenue, maximize efficiency, and reduce environmental impact. The Aviation segment features jet aircraft fractions, jet card, on-fleet charter, management, and buyer’s brokerage. Jet.AI is an official partner of the Las Vegas Golden Knights, 2023 NHL Stanley Cup® champions. The Company was founded in 2018 and is based in Las Vegas, NV and San Francisco, CA.
This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the products and services offered by Jet.AI and the markets in which it operates, and Jet.AI’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that could cause the actual results to differ materially from the expected results. As a result, caution must be exercised in relying on forward-looking statements, which speak only as of the date they were made. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in the Registration Statement and the amendments thereto on Form S-4 filed with the Securities and Exchange Commission (File No. 333-270848) and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Readers are cautioned not to put undue reliance on forward-looking statements, and Jet.AI assumes no obligation and does not intend to update or revise these forward-looking statements, whether because of new information, future events, or otherwise.
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