Empty Leg Market, the web-based service that aims to help charter operators fill empty flights with paying customers, plans to develop a tool to help buyers understand business aircraft charter costs to make the most of the company’s name-your-price feature. A recent analysis of how potential customers are using the bidding feature revealed that 50 percent of potential buyers dropped out at the point where they would have to enter an amount to bid on an empty leg. “We thought that entering credit-card info would be the hold-up,” said founder and director of operations Elliott Schwartz, but few customers balked at that step. “It was incredibly insightful that users didn’t know how much charter costs and how much to bid,” he said.
Based on this research, Schwartz plans to develop a tool to help buyers understand business aircraft charter costs. “There are so many variables,” he explained, including the destination, time, type of aircraft and so on. “Pricing is an issue for the industry in general,” he added. “It is not very transparent.”
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