SAN FRANCISCO, Jan. 31, 2017 /PRNewswire/ -- XOJET, the leader in on-demand private jet charter services, announced today that it achieved another performance milestone in 2016 and is poised for significant commercial investment in 2017.
Marking the completion of 10 successful years of operations, XOJET exceeded 25 percent return on aircraft assets in 2016, demonstrating another year of industry leading financial performance. XOJET also secured a record number of new clients, with over 950 total programs sold, and dramatically expanded the off-fleet charter brokerage business, primarily in large cabin and light jets, by 22 percent over prior year.
"Above all else, we remain intensely focused on providing personalized service and transparent advice as the trusted advisor to sophisticated business aviation users," said Brad Stewart, chairman and CEO at XOJET. "We are a full-service enterprise brokerage business, always expanding our network of preferred operating partners to support our clients across the full spectrum of their private aviation needs."
The XOJET direct sales and charter brokerage operation continued to gain significant momentum. The company's team of dedicated Aviation Advisors directly managed over 80 percent of bookings on XOJET's fleet of aircraft. The remainder of bookings on the XOJET fleet were primarily derived through XOJET's preferred distribution partners, which include Sentient Jet and JetSmarter—XOJET's exclusive digital platform partner. The new JetSmarter alliance has uniquely positioned XOJET as an industry leader in combining high-touch personalized service with a leading-edge digital engagement platform.
XOJET's Preferred Partner Network now comprises 1,087 approved aircraft that meet the company's rigorous operating standards.
"We are seeing a marked increase in demand for both large cabin aircraft and light jets and have significantly strengthened our offering in that space", said Gregg Slow, EVP of sales and client services.
In 2016, XOJET further expanded its New York brokerage office to serve clients located in the Northeast and opened a new office in Greater Los Angeles, serving clients in Southern California, to complement the company's headquarters in San Francisco and Operations Control Center in Sacramento.
"As we expand our East Coast footprint, we are working closely with our partners at TMC to provide a full range of light jet operating capability across key destinations throughout the Eastern United States," Slow added.
Operating a single class of aircraft within the continental United States, dynamic pricing, a floating fleet and maximized asset utilization enabled XOJET to maintain strong financial performance throughout the year. The company also invested heavily in a multi-million dollar fleet refurbishment program in 2016, demonstrating its commitment to improving the client's in-flight experience.
"As the leading alternative to fractional ownership and jet cards, we are relentlessly focused on delivering value to sophisticated private flyers through our unique on-demand, floating fleet business model," said Austin Schell, president of fleet operations. "In a year of increased industry competition, we are fully committed to continuously improving our fleet to provide the optimal experience for our clients."
In addition to achieving financial milestones, XOJET confirmed a series of new strategic relationships with like-minded partners to augment the XOJET client experience with additional benefits and to provide access to some of the world's most distinguished resorts and properties. In 2016, XOJET became the Official Private Aviation Partner of Vail & Beaver Creek Resorts, Pebble Beach Resorts and an Official Partner of Etihad Airways and Mandarin Oriental Hotel Group. The company will continue to explore new partnerships to further complement its existing relationships with Yellowstone Club, Golden State Warriors, Butterfield & Robinson, Savoya and Gavin de Becker & Associates.
"Our objective in 2016 has been to build the framework for our partner ecosystem based around four key verticals: Travel & Leisure; Adventure & Discovery; Health & Wellness and Seamless Travel Services," said James Henderson, chief business officer at XOJET. "We will continue to expand on this in 2017 by introducing new partnerships and benefits to our client base."
2017 will represent a year of significant commercial investment for XOJET, as the company continues to expand its client service capabilities, extend its geographic presence, and invest in digital channels and strategic partnerships. Embracing the shift toward digital engagement, XOJET is also collaborating with JetSmarter to develop a new client-facing app specifically for XOJET Preferred Access™ and Elite Access™ Members. The new app, to be launched in early 2017, will provide XOJET Program Clients with real-time booking capabilities on the XOJET fleet and partner fleets, as well as seamless travel support services.
XOJET will continue to focus on further developing its position as a full-service brokerage in the large cabin and light aircraft sectors in 2017 working closely with XOJET's Preferred Partner Network. The company plans to open an additional office in Florida to strengthen its ability to service the growing XOJET client base in the Southeast.
"We have been very intentional and diligent in building a strong and sustainable foundation for XOJET over the last five years," said Stewart. "We are excited about the optionality this gives us to leverage our platform in 2017, particularly in terms of geographic expansion, strategic and operating partnerships that will support our continued growth."
XOJET, a TPG portfolio company founded in 2006, has become the industry's premier private aviation services company, serving more than 7,000 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. XOJET's commitment to safety leadership has earned the highest safety ratings in the industry, including ARG/US Platinum and the distinguished ISBAO Stage III. XOJET is also an active member of the National Air Transportation Association (NATA) Presidents Council. For more information, please visit www.xojet.com
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