OneFlight held about US$300m in jet card prepayments as used-jet deals rose 21 per cent

In September 2026 OneFlight, a jet card and charter broker, paused all flight activity for 30 days or until further notice, confirming the pause on its website on 16 September. By then it had built up around US$300m in deferred revenue (payments taken for flights not yet flown), according to documents reviewed by Private Jet Card Comparisons, which had earlier put the amount at stake at over US$150m.

OneFlight does not escrow those funds, the title reported, and in a bankruptcy clients with prepaid charter and jet card flights are unsecured creditors. Former staff described spending on TV advertising, ambassadors, sponsorships and free flights, and a former sales director wrote in September 2020 that the model was no longer sustainable.

The warning signs ran through the year. On 18 May OneFlight offered US$500,000 in flight credits for a US$250,000 deposit in a Memorial Day promotion. In August it emailed clients a 35 per cent economic surcharge with immediate effect, then rescinded it hours later.

The wider market was strong. Business jets made 3,878,336 departures worldwide in 2025, an all-time record that beat the previous high of 3,763,935 set in 2022, according to WingX data reported in January. Super midsize jets grew most, by about 7 per cent, while entry-level jets fell 8 per cent. In February the title reported, from General Aviation Manufacturers’ Association data, that 854 new jets were delivered in 2025, the most since 874 in 2009.

Pre-owned trading followed. The International Aircraft Dealers Association (IADA) said on 27 July that closed private business aircraft transactions reported by its dealers rose 21 per cent year on year to 746 in the first six months of 2026. It said inventories of high-quality pre-owned aircraft remain historically tight. Its members described the outlook for the next 12 months as very stable.

In the UK, HMRC published a measure note on 13 July 2026 confirming that from April 2027 the higher rate of Air Passenger Duty would apply to aircraft of 5.7 tonnes or more used as private or business jets. The higher rate currently covers aircraft of 20 tonnes equipped to carry fewer than 19 passengers. The note says the child exemption does not apply to business jets. Legislation is due in Finance Bill 2026-27, so the change is proposed, not yet law.