The Fab Four exempted flying from their 1966 song about taxes. Now, thanks to the 2020 bipartisan hit commonly referred to as the CARES Act, it could be a while before you have to pay the 7.5% Federal Excise Tax for your private jet flights.
At least, that’s the thought from a growing number of companies that sell prepaid jet cards. However, there’s an asterisk with this promotion.
So far, only a handful of the more than 60 companies that sell jet cards are promoting the buy now, fly tax-free element, although
Seven months since COVID-19 was officially designated a pandemic by the WHO, its effect on global travel and the airline industry in particular remains severe. Although more flights are running now than at the lowest points in April, global airline capacity is currently down 47% from this time last year. Looking at the statistics page for flights tracked on Flightradar24, the 7-day moving average for commercial flights has remained flat since early August. The latest 7-day average stands at just shy of 69,000.
In many ways it’s surprising the number of flights is even that high. With ongoing uncertainty around travel restrictions and quarantine requirements, and a hesitant approach by many governments toward launching any