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Resource ID: #28577
Subject: Aviation
Source: CNBC
Affiliation: 
Date: Jan. 10, 2019

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Description

“Tailspin” uncovered the financial, legal and security problems inside a fast-growing private jet company named JetSmarter. The private jet world gets little scrutiny, protected by a tightknit group of companies and elite customers. JetSmarter became the darling of the media and industry, led by a charismatic CEO and hyped by celebrities on social media. But our investigation found that the company sold memberships that quickly proved to be worthless. Its CEO touted its success as the first “flying unicorn” worth $1.5 billion, but we found JetSmarter was losing millions of dollars a month.

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