XOJET Surpasses Core Profitability Targets While Adding Record Number of New Program Clients
On-Demand Private Jet Charter Company Exceeds Projections—Remains Undisputed Alternative to Fractional.
- 33% increase in EBITDA and a 56% increase in new program sales, with retail charter sales up 19% overall
- Increased number of vetted aircraft to over 1000 jets
- XOJET experienced particular growth in the northeast market, with flights originating or ending in the New York tri-state metro area up significantly.
San Francisco, February 18, 2015—XOJET, Inc., a leader in private jet charter services, announced today that it achieved record core profitability and new client program growth in 2014, delivering a 33% increase in EBITDA and a 56% increase in new program sales. XOJET’s advice- and service-driven, on-demand charter model continues to flourish as the smart alternative to fractional and card programs. Now the largest on-demand charter provider in the industry, XOJET experienced a dramatic increase in overall market awareness following the launch of its Take Command™ brand campaign last year, with retail charter sales—including flights operated by XOJET and by its partner operators—up 19% overall. Growing asset yield and continuing operational efficiency gains drove substantial profitability and margin improvements.
Establishing a philosophy of obsessive client care and hospitality was the company’s dominant objective in 2014—and will continue to be a critical priority in 2015. “Clients choose us because they know we will take care of them. Our program client base is growing faster than any other jet operator or broker in the industry and our renewal rates exceed 95%. Once clients try our product, they love it. We are committed to serving clients in a customized and highly personalized manner,” affirmed CEO, Brad Stewart. As part of its ongoing efforts to put passengers at the center of everything the company does, XOJET embarked on programs that enriched services and touch points for clients, upgraded overall fleet aesthetics and expanded its Challenger 300 fleet. The company also increased its aircraft offerings, bringing its number of vetted aircraft to over 1000 jets—each ARG/US rated and backed by XOJET’s operating and insurance standards—available for charter through its various flight programs, offering a true one-stop-shop for clients.
While growth was consistent across all of North America, XOJET experienced particular growth in the northeast market, with flights originating or ending in the New York tri-state metro area up significantly. In response to increasing demand, XOJET is expanding its brand, sales and services investments in New York, hiring and relocating additional Sales Advisors and doubling marketing spend in the region. “New York is an increasingly important market for us. We have more options and more flights going out of New York—we remain the go-to solution for business and leisure flyers looking to fly coast to coast, to Florida or all parts of the Caribbean,” said Gregg Slow, EVP of Sales and Service.
In an effort to better serve its clients, XOJET expanded its lifestyle offering throughout 2014, with the addition of key partners in the travel, hospitality and security verticals. New partners include Butterfield & Robinson—luxury adventure travel, Element Lifestyle—concierge services, and Gavin De Becker & Associates, security services, while bolstering long-standing relationships with Yellowstone Club/Discovery Land Company and Creative Artists Agency (CAA). “We view XOJET as a luxury lifestyle brand and premium service boutique. We start with private travel advice and service and we build out from there, layering on curated services and bespoke experiences for our clients,” commented Chief Marketing Officer, Shari Jones. “In the future, I envision adding to our ecosystem with travel and luxury brands that our clients know and love,” she added.
XOJET, a TPG portfolio company founded in 2006, has become the industry’s premier private aviation services company, serving more than 5,000 clients worldwide. Our unique business model combines the flexibility of on-demand flying with a world-class service and operations infrastructure that is dedicated to providing the highest levels of client service at every point of their travel experience. We create custom flight solutions for businesses and individuals, with a focus on serving the most sophisticated private aviation flyers from finance, technology and entertainment sectors. XOJET’s commitment to safety leadership has earned the highest safety ratings in the industry. XOJET is the only business aviation provider to rank either #1 or #2 in all twelve ARG/US Platinum safety-rating categories. XOJET is the first and only private aviation operator to enable its entire fleet of Citation X and Challenger 300 jets with complimentary in-flight Wi-Fi Internet connectivity. XOJET is also an active member of the National Air Transportation Association (NATA) Presidents Council. For more information, please visit www.xojet.com.