# First Jet Airways

The airline owned by its community

- Canonical URL: https://wefunder.com/firstjetairways
- Entity ID: wefunder:company:220854
- Last updated: 2026-11-07T16:06:41Z
- Generated at: 2026-11-07T16:07:04Z

## Quick facts
- Building a low-cost, member-led airline with a nationwide community
- Affordable, quality air travel because flyers hold voting control, not outside investors
- Began as a viral video to buy Spirit with 175M+ organic views within 60 days
- Secured 370k pledges worth $337M and prepared formal bid on Spirit
- When acquisition became risky, pivoted to building our own airline
- Recruited a core team with founders in aviation, media, and community ownership
- Completed diligence on 24-month plan for FAA op. cert., passenger/cargo routes, crew, and fleet
- Rallying community for first flights by summer 2029

## Active fundraises
- wefunder:fundraise:174274: 4(a)(6) successful (USD)
- wefunder:fundraise:174273: 4(a)(6) open (USD)

## Story
Air travel should be simple: a fair price, a dependable flight, and people who treat you like a person. Today, airlines charge more than ever, expect loyalty from travelers and workers, and give us no real say in our travel experience or the companies we help keep in the air.What if we created a new airline?First Jet Airways is the first airline owned and governed by the people who build it, the people who run it, and the people who fly it. We want to redefine who air travel belongs to by building an airline owned and shaped by its members.More than 370,000 people raised their hands in support of this vision. They responded to a belief that felt both new and obvious: the people who make an airline possible should have a meaningful voice in what it becomes.First Jet is being built from scratch, with a low-cost operating model, an annual membership program, and member governance at its core.We are not adding a community feel to a conventional airline. Our community is how the airline is owned, funded, and held accountable.We have formed the team to bring the vision to life. Now, we are inviting you to build it with us.We didn’t find the market, the market found us!On May 2nd, America lost its least expensive way to fly. Spirit Airlines ceased operations after 34 years. Its collapse displaced an estimated 30 million annual passengers. Many were families, vacationers, people traveling to see relatives, and people for whom a flight's price can decide whether the trip happens at all. 17,000 certified aviation professionals, from pilots to flight attendants, mechanics, and dispatchers, were released into the job market overnight.The shutdown sent shockwaves through the aviation industry.Spirit’s 2026 shutdown displaced roughly 30 million annual passengers, released 17,000 aviation professionals into the labor market, and was followed by an 18%+ increase in fares, creating a rare opening for new low-cost capacity.That same day, Hunter Peterson posted a video with a wild idea: what if ordinary people pooled their money and bought the airline?For Hunter, aviation was not a random topic. He is a filmmaker, voice actor, and lifelong aviation enthusiast who has wanted to start an airline since he was seven. Spirit's online community also knew him from a video documenting 24 consecutive hours aboard its aircraft.His proposal came down to simple math. If a small share of America's price-sensitive travelers chipped in the cost of one ticket, together they could theoretically buy the airline they depended on.The idea resonated.In less than 60 days, the campaign generated more than 175 million views. More than 371,000 people made non-binding pledges representing over $337 million in indicated support. Pilots, flight attendants, aviation operators, lawyers, cooperative specialists, technologists, and travelers began asking how they could help.There was a clear signal that a large group of people wanted to participate in building an airline, not simply buy tickets from one. We did not have to wonder whether the idea mattered to anyone. The people answered.First Jet’s grassroots movement generated 175M+ views, 371,000 verified pledges, and $337M+ in pledged support in under 60 days, with coverage from major national media.Our Defining MomentBy June, the online campaign had become a serious effort. The team engaged aviation and securities counsel, began diligence on Spirit's assets, and raised $2.2 million from accredited investors to prepare a formal bid in bankruptcy court for Spirit’s operating certificate, brand rights, and airport gates.But as the team dug into what acquiring Spirit would actually require, the risks became impossible to ignore. A compressed timeline, competing bidders, and uncertainty around liabilities tied to Spirit’s assets made the acquisition increasingly difficult to justify.Faced with the choice between gambling community funds on a distressed, debt-laden asset or upholding financial discipline, Hunter and the team made the hardest call of the campaign: they withdrew the bid and returned 100% of the $2.2 million raised back to investors in full.Buying Spirit for parts was the wrong plan. But the community's enthusiasm and desire to build something better were undeniable. We didn’t know it then, but walking away from Spirit 2.0 was the organization's defining moment.Leadership realized that acquiring Spirit was never the true objective. The heart of the idea that inspired the movement was the chance to build an airline that worked differently for the people who relied on it.Starting fresh meant giving up the fastest path. It also meant no inherited debt, no legacy fleet-maintenance burden, and no need to force a member-owned model into someone else's company.We pivoted.We are no longer buying an airline. We are building one.Led by members, not mileageMost airline loyalty programs work the same way. You spend money, collect points, and hope those points are worth something when you want to use them. The airline controls the rules and can change them whenever they want.First Jet Airways is being designed around membership instead.First Jet is being built from the ground up as a member-oriented, low-cost airline. The membership model is intended to create a relationship closer to a cooperative or membership business than a traditional frequent flyer program. Think “Costco for the skies.”Members would receive access to member benefits and fares, while the cooperative structure gives member-patrons a meaningful role in governance. The current concept is an annual membership with access to member fares and practical travel benefits. Higher tiers would add more value for people who fly more often. Early planning has explored entry memberships at $45 and $99 per year, along with a premium tier.First Jet’s grassroots movement generated 175M+ views, 371,000 verified pledges, and $337M+ in pledged support in under 60 days, with coverage from major national media. Revenue projections are forward-looking and cannot be guaranteed.There is also an economic reason to build it this way.Annual dues can create recurring revenue alongside ticket sales. It also creates a deeper relationship between the company and the people it serves. Instead of spending indefinitely to reacquire the same customer for the next trip, First Jet is designed around a community with a reason to stay engaged with the airline over time.Membership is not an add-on. It is part of how the airline is meant to work.That combination of low fares, recurring membership, and broad-based ownership creates a category that doesn’t currently exist in U.S. commercial aviation.The key difference is that membership is meant to do more than offer perks.First Jet is being organized as a cooperative so that member-patrons, including the workers who build the airline and the people who fly it, hold meaningful governance rights. The intended structure calls for majority member voting power. Current planning allocates 62% of voting capital to member-patrons under a one-member, one-vote principle. The final structure remains subject to legal review and definitive documentation.First Jet’s $260M capital program pairs $160M in member and public voting capital with $100M in non-voting preferred capital, preserving member control while giving investors financial rights. Raising $260M is forward-looking and not guaranteed.If the business produces an eligible surplus, a portion may be allocated back to members based on their activity with the airline. It is a way for the people who use the airline to share in the value their participation helps create.We want membership to be useful enough that people renew because it continues to deliver value, not because they have points trapped in an account.Building an airline is hard, but worth it.There is an obvious question behind all of this: Can a community with a compelling idea actually build an airline?That is the part of our story that we refuse to romanticize.Commercial aviation is heavily regulated, operationally complex, and extraordinarily capital intensive. First Jet does not currently operate scheduled passenger flights, and the regulatory pathways contemplated in our planning remain subject to FAA, Department of Transportation, and other third-party approvals.We consider that rigor a feature of aviation, not an obstacle to be waved away.Our capital plan is built around milestones. Different pools of capital are intended to become available when specific regulatory and operating conditions are met. That approach connects each dollar to the risk it is meant to address, whether the next step involves leadership, certification, aircraft, systems, or working capital.First Jet’s $260M capital program pairs $160M in member and public voting capital with $100M in non-voting preferred capital, preserving member control while giving investors financial rights. Forward-looking projections cannot be guaranteed.We plan to start passenger flights in summer 2029. Our exact date depends on financing, third-party agreements, aircraft availability, qualified personnel, and regulatory approval.The team has engaged corporate, securities, and aviation counsel. It has completed operating-specification diligence and brought together more than 50 operators and contributors with experience across aviation, technology, cooperative ownership, and media.This Wefunder offering is one part of that plan. It is not the full cost of launching a commercial airline. The offering materials explain what this round is intended to fund and the terms on which people can invest.We would rather be clear about the work ahead than make the road sound easy.Why invest at this stage?First Jet Airways is early. FAA certification could take longer than planned. The company may need more capital than expected. Interest may not convert into paid memberships at the rate our plans assume. Aircraft, labor, insurance, fuel, and regulation can all change. Investors could lose their entire investment.Those risks are real. So are the things First Jet has already demonstrated.Before the airline existed, the idea generated more than 175 million organic views and more than 371,000 verified pledges worth over $337 million in indicated support. Spirit's collapse left an estimated 30 million annual passengers looking for alternatives. When the proposed acquisition became too risky, the team returned $2.2 million instead of pushing through a bad deal. Since then, First Jet has been building its governance, membership model, capital plan, and operating strategy from the ground up.None of that guarantees success. It does show demand, judgment, and a reason for this company to exist.The opportunity is bigger than launching another low-cost carrier. First Jet is working to combine affordable travel, recurring membership, cooperative governance, and broad community participation in one airline. The goal is a company that earns loyalty by delivering value and giving its members a meaningful voice.That is a difficult company to build. We believe it is worth building.Now boarding…First Jet began with a question about who an airline could belong to.A video became a movement. The movement revealed demand. Walking away from Spirit gave the mission focus. Now comes the long, practical work of turning that mission into a safe, reliable operating airline.We are not asking anyone to invest because starting an airline is easy. We are asking people to consider the need for affordable service, the community that formed before the product existed, the judgment shown when the first plan stopped making sense, and the value of an airline shaped by the workers who build it and the people who fly it.Read the offering materials. Understand the risks. Then decide whether you want to be a part of the First Jet story.We are inviting you to build an airline for the people, by the people, and because of the people, with us.This is First Jet. Welcome aboard.

## FAQ
1. **Is there a plan for which airports First Jet will (try to) launch with at the start, as well as planned future aiports to expand to?**
   - Great question! This will be designed and proposals will be run by the founding members of the co-op for review and approval.
2. **Are only US residents able to invest?**
   - Not just US residents! See the answer here! https://help.wefunder.com/article/56af32b2-1-who-can-invest-on-wefunder
3. **Is this a one time investment or recurring monthly/yearly?**
   - One time depending on the window :) If you'd like to invest more now you can, or invest more down the road on future opportunities you can as well. Its up to you but please do your own research and if you do decide to invest, only invest what you can afford to lose :)
4. **Is an investment the same as the membership buy-in?**
   - No. We're actually not allowed to sell membership until we have flgihts to sell. Investments are purely investments at this time.
5. **The First Jet website and previous statements from Hunter expressed investors would have voting rights in the company, but the "Risks" section on this state the opposite. Can you please clarify t his?**
   - As of the current iteration of the company before the co-op is in existence, vote control rests with myself to ensure that someone can't come in and (quite frankly) destroy the opportunity being built. Upon the formation of the co-op, the investors now will move into the voting class of the co-op. This may change depending on how the FAA/DOT allows command/control of a Part380/Part121 AOC by a co-op, but as of now this is what is being designed.

## Team
- Hunter Peterson (Founder and Co-CEO)
- Tom Hsieh (Co-CEO/Aviation Accountable Executive)
- Kaylene Breeding, PMP (Part 121 Project Manager)
- David Perlitz (Part 380 Program Manager)
- Jessica Grace (Brand Strategy Lead)
- Leylane LaQuesse (Communications Co-Lead)

## Q&A
- Q: Is there a plan for which airports First Jet will (try to) launch with at the start, as well as planned future aiports to expand to?
  - A: Great question! This will be designed and proposals will be run by the founding members of the co-op for review and approval.
- Q: 1) Does investing translate to owning a share of the company which could result in dividends being paid, or the stake being sold for a profit at a later date? IE how do I get my return on investment? 2) Will investors get free/discounted memberships, enhanced services, or other perks once the business is running?
  - A: 1. Yes! This is currently being designed and all of your points are potentials later on. 2. Same answer as above. We want to make sure for folks getting in on the very first round of the airline that we are building together.
- Q: The First Jet website and previous statements from Hunter expressed investors would have voting rights in the company, but the "Risks" section on this state the opposite. Can you please clarify t his?
  - A: As of the current iteration of the company before the co-op is in existence, vote control rests with myself to ensure that someone can't come in and (quite frankly) destroy the opportunity being built. Upon the formation of the co-op, the investors now will move into the voting class of the co-op. This may change depending on how the FAA/DOT allows command/control of a Part380/Part121 AOC by a co-op, but as of now this is what is being designed.
- Q: Is this a one time investment or recurring monthly/yearly?
  - A: One time depending on the window :) If you'd like to invest more now you can, or invest more down the road on future opportunities you can as well. Its up to you but please do your own research and if you do decide to invest, only invest what you can afford to lose :)
- Q: Is an investment the same as the membership buy-in?
  - A: No. We're actually not allowed to sell membership until we have flgihts to sell. Investments are purely investments at this time.
- Q: What happens if we invest and it doesn't materialize?
  - A: This is unfortunately the risk of investing in an early stage startup. We are trying our best to mitigate risks to make this a viable opportunity, but there is inherently a risk with investing in any startup. Please do your own research and only invest what you are willing to lose.
- Q: When does the investment window close?
  - A: Upon the point of hitting $5m!
- Q: I’m in there. What’s next?!
  - A: 1. Raise the $5m in this first round and sequence in a potential second round later this year/early next. 2. Identify our partner 121 carrier and file our part 380 certificate. 3. Aim for operations in <24 months 4. Scale the people's airline :)
- Q: How much will the membership cost? Will there be a rewards program and credit cards?
  - A: All questions are still being ideated and structured as of now! More soon.
- Q: In reviewing the purchasing agreement documents, I noticed several drafting issues and wanted to ask whether corrected versions will be issued before closing: The Voting Agreement (Exhibit G) signature pages are labeled “Encultured AI, PBC.” The Restated Certificate (Exhibit B) leaves the authorized share counts, the Original Issue Price (Part B §1), and the protective-provision share threshold (Part B §3.3) blank. Purchase Agreement §1.3 references 7,310,000 Series A shares, but §2.2 authorizes 5,776,524. Par value is $0.0001 in the Purchase Agreement but $0.00001 in the Certificate. The Disclosure Schedule (Exhibit C) is dated “March 2014” throughout. The Purchase Agreement lists 6 employees; the Form C lists 1. Will investors receive final, corrected documents, and which version governs if there’s a conflict?
  - A: We are correcting this and updating shortly :)
- Q: Hello is there a prospectus, and an official webpage?
  - A: We will be releasing the official prospectus shortly along with an investor portal.
- Q: What happens if we don’t reach the 5 million dollar mark?
  - A: The $5m window is open for 12 months! This gives us plenty of time to circulate the offering and hit $5m.
- Q: For my $180 investment in First Jet Airways I, plus the $12 fee, is $192 my entire required financial commitment? Can I ever be required to make additional capital contributions or payments in the future under the SPV Subscription Agreement, LLC Agreement, Series Appendix, or any other incorporated agreement?
  - A: You will not be required to make additional contributions. Future investments are up to you. The $12 fee is a one time cost.
- Q: Will membership and investment opportunities stay open indefinitely? Or will there be an end date?
  - A: Membership will be opened upon the acquisition of a certificate of operation as an airline, investment will likely be periodic however things can and will change.
- Q: Does anyone have a contact with Schwab? I have an IRA account with them and would like move some money over to invest in FirstJet.