Companies like JetSuite, a West coast-based private jet charter company, is offering flights on its fleet of four-seater Embraer Phenom 100 aircraft for as low as $499.

The secret, said JetSuite CEO Alex Wilcox, is that the small planes are perfectly suited for small groups and short flights. They use a third of the fuel larger private jets do, cutting down on costs and creating a more sustainable model.

For travelers who are short on time, private jet travel can also be a far simpler logistically than commercial air travel, Wilcox said. Private travel eliminates security checks, parking time, and boarding lines, and can cut the length of a trip from Los Angeles to Las Vegas in half.

We talked with Wilcox about JetSuite's recent $7 million funding round and newest board member, Zappos.com CEO Tony Hsieh, along with the advantages of traveling by charter jet.

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