Very light jets are designed to constitute a new category of small, cost efficient, private jets. Their introduction to the market has been planned for almost a decade and could induce significant changes to the business aviation industry. Among the most discussed effects is the possible emergence of very light jet air taxi operators. These operators plan to create a new value proposition for passengers by offering on-demand, point-to-point connections at considerably reduced costs in comparison to traditional private jet companies. However, their introduction has been delayed and the market environment, in the aftermath of the subprime crisis, remains challenging. In this context, very light jet air taxi operators will need to prove their business model by offering superior customer value to potential passengers. In order to maximize customer value in the face of trade-offs, operators need to understand their customers' preferences and how they interact with each other. By adapting the customer value model for very light jet air taxi passengers, this master thesis helps practitioners by presenting a useful tool for strategic planning. Further, the adapted customer value model is also intended to present a basic framework for further research on the customer preferences of very light jet air taxi operators. Master Thesis.