1. Virgin Group is launching an online booking site for charter aircraft to capitalize on the booming, $10 billion-a-year charter aircraft industry acting as middlemen for travelers looking to charter a business trip or high-end vacation.
2. Virgin Charter hopes to create what's essentially an eBay for private jets. Customers will input their desired trips and charter operators will bid for their business. The customers will then choose which operator they want. Virgin Charter will get an unidentified cut of each sale.
3. It is adding a bit of social networking to the site. Charter customers and the aircraft owners will both be able to post comments about each other on the site, so travelers will know whether the operator was late and the plane owners will know whether the customer smoked in a nonsmoking plane.
4. It is encouraging plane owners who list on the site to get their planes certified by third-party for safety and quality.
5. It hopes to reduce costs by establishing itself as a clearinghouse for return trips without passengers that chartered planes often make to their home airports.
Finding a need and fulfilling = revenue.
[Click here for full story at: BUSINESSWEEK.COM]
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