United States

JetSmarter may be sold for a fraction of its targeted value

JetSmarter, the once high-flying private aircraft-booking app backed by Jay-Z and the Saudi royal family, is being cleared for emergency landing, according to insiders. Valued at $1.6 billion two years ago, the so-called Uber of the skies is said to be in “rescue talks” that could result in a sale for as little as $20 million, two industry insiders told The Post. Both insiders identified roll-up artist Vista Global as the likely acquirer. But if talks between the two parties fail, and JetSmarter fails to secure additional financing, the sources said it could be forced into bankruptcy. “People in the industry are already calling it the Fyre Festival of aviation,” one insider said. It’s hard to imagine a bigger comedown for t ...