Talon Air's Luxury Jets Go Above and Beyond

Kaufman refers to a recent example, in which a few executives from The Children's Place(PLCE Quote - Cramer on PLCE - Stock Picks) flew out for an international trip at 9 p.m. They woke up in Paris and used Talon for a European business tour of ten cities, and then returned to New York City in just over two weeks. Flying commercially, this would have taken them at least 18 days. "[Talon] saves them time and increases their productivity," Kaufman points out.

Expansive Plans

For the future of Talon, expansion is in the works. "By the end of 2010, we are aiming to have about 30 jets and about 100 clients," says Kaufman. "We are taking the business model from other industries -- once we raise enough money like a hedge fund, we will close the doors."

That isn't happening yet, though. Talon hopes to expand to the Southeast U.S., especially Florida, which will entail hiring more full-time pilots along with acquiring additional hangar space.

Kaufman explains Talon's business plan: "It's probably a faux pas, [but] we react rather than act, which allows flexibility to move in and out of projects."

Also new this year, the company started managing third-party assets, which are clients' own jets. "The client will make 85 cents and Talon will make 15 cents on the dollar when the jets are rented out to other high-end individuals. At the end of the day, the owner has final say where [the jet] goes. We hope to have six [jets] in the next few months," says Kaufman.

But as always, industry competition is "something to watch out for -- there are new entrants all the time," says Mann.

However, Katz is doing an impressive job with both his track record and Rolodex. "I'm impressed with anyone who can maintain that level of service and that clientele. It's not an easy job," Mann says.

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