updated 10/4/2010 11:46:03 AM ET 2010-10-04T15:46:03

LOS ANGELES, Oct. 4, 2010 (GLOBE NEWSWIRE) -- Private jet operator JetSuite has been purchased by JetBlue founder and airline innovator David Neeleman and Acadia Woods Partners LLC.

In conjunction with the acquisition, JetSuite will take delivery of an additional five brand-new Embraer Phenom 100 aircraft. With an additional two leased Phenoms, JetSuite clients will now have access to twelve of the newest aircraft in the industry.

"After seven months of charter operations, we are happy to report that our clients love our crews, our service, our value and our Phenoms. We are doubling the fleet to satisfy our ever-growing customer base," said Alex Wilcox, CEO of JetSuite. "I am gratified that the JetSuite business model has captured David Neeleman's and Acadia Woods' imagination, and that they share our vision of making private jet travel far more efficient and more affordable than ever before."

In addition to reinforcing its operations across the Western US, the new aircraft will support JetSuite's expansion into Texas.

"The private jet market has been broken for some time, loaded with unnecessary expense, poor asset utilization and low return on capital, despite the exorbitant costs to its users," said David Neeleman. "I believe JetSuite will be able to deploy its uniform fleet efficiently, following some of the basic rules of low cost carriers, to deliver the availability and low price points that are going to open the industry to large numbers of new corporations, resorts and individuals."

ABOUT JETSUITE

JetSuite is the first and only private jet operator to offer a fleet of exclusively all-new Embraer Phenom 100 in charter and jet card programs. JetSuite is rated Platinum by ARGUS, the highest possible safety rating in the private jet industry.

The Embraer Phenom 100 seats four passengers comfortably in the most spacious cabins in their class, and have the largest baggage compartment in their category with plenty of room for customers' luggage, pets, golf bags, skis and snowboards. The BMW-designed leather interiors feature Bose Quiet Comfort headsets and 110V power outlets at every seat. JetSuite provides complimentary wines, spirits, Red Stripe beer and snacks. JetSuite provides service from its "Suite Spots" to airports throughout the Western United States, Canada and Mexico. For more information on JetSuite, please visit www.jetsuite.com or call (866) 779-7770.

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