Magellan Jets Grows Revenue To $120 Million In 2022

Private Aviation Provider Harnesses Meaningful Investments in People, Infrastructure, & Programs on Behalf of Clients as it Enters 15^th Year

BOSTON, Feb. 28, 2023 /PRNewswire/ -- Magellan Jets expanded its portfolio of private aviation solutions to new frontiers in 2022 by continuing to invest in their teams and adapt their business to customers' needs—re-imagining programs, launching a new Aircraft Sales & Management Division, moving to a new corporate headquarters, and opening the company's first Private Jet Terminal. As a result, the company grew gross revenue to a total of $120 million last year and is projecting $140 million for 2023.

The team's accomplishment caps off a decade in which Magellan has consistently grown gross revenue by 34 percent year over year. It concludes a year in which Magellan's Jet Card program saw a 30 percent increase in sales and an 89 percent renewal rate. It comes at a time when the provider's booking rates have significantly surpassed those of the rest of the industry; Magellan increased total flight hours by 19.9 percent in 2022 compared to 2021, beating the private jet industry average growth of 7.7 percent flight hours over the same time period.

Magellan leadership credits these successes in large part to a continued practice of putting its revenue back into its people—the talented, dedicated, and experienced aviation professionals who ensure Magellan's clients receive seamless and elevated service. From the company's new, state-of-the-art Flight Operations Center to its technology and supplier network improvements, the company strived to make sure its team members had what they needed to succeed and deliver.

"Behind every exceptional customer experience is a crew of dedicated and passionate employees," said Magellan Jets CEO Joshua Hebert. "We spent a significant portion of our time and profit in 2022 investing in our team members. When we have the right people in the right seats and are consistently making sure they have what they need to be engaged and passionate about their work, they're more likely to deliver exceptional service and create memorable experiences for our guests."

In addition to offering Jet Card Ownership, Private Jet Membership, and On-Demand Charter services, Magellan established a brand-new Aircraft Sales & Management Division for those customers whose needs have progressed beyond the company's program offerings to full aircraft ownership.

"Aircraft Sales and Management is the newest product line in the Magellan Jets aviation portfolio, closing the loop and completing the circle of life for the private flyer, all on one platform," said Magellan Jets President Anthony Tivnan. "We're there as a trusted partner for the purchase of the aircraft, and afterward, we develop a personalized management plan on the client's behalf that treats ownership expenses as pass-through costs. For our customers who are interested in offsetting the cost of aircraft ownership, we put their aircraft into our own network for use in the Jet Card and Membership programs."

While many companies in the private aviation sphere chose to exit contracts with existing customers or interrupt service in 2022, Magellan kept all programs open, adapting them to the changing needs of the client. In direct response to customer demand, Magellan enhanced its Jet Card programs to include shorter callout times, more competitive daily minimums, and an expanded service area; created the new funds-on-account Explorer100 Membership to offer increased freedom, flexibility, and certainty on a pay-per-flight basis; and introduced the ability for program customers to execute a refund clause on their deposits should market changes force them to reconsider their plans.

Magellan's most significant investment in customer experience this year was their Bedford, Massachusetts Private Terminal, representing a new chapter in the company's mission to elevate service and convenience. The location offers Magellan's Jet Card Owners, Members, and On-Demand Charter guests a space all their own at one of the busiest private jet airports in the country, showcasing Magellan's commitment to being where their clients need them. The company plans to open one additional terminal in a new market each year.

"For our members arriving and departing in the Boston area, this space provides a private, familiar place for them," Hebert said. "When they walk in the door, the staff know exactly who they are, where they're going, and what they might like on the airplane. It's a very different experience than flying into your typical FBO—and it means a lot to us that our first terminal serves the Greater Boston community that has been a part of our story since the very beginning."

For more information on Magellan's full suite of private aviation solutions, please visit magellanjets.com or call 877-550-JETS.

About Magellan Jets

Magellan Jets is a Boston-based private aviation solutions provider built on a commitment to three core values: Lead With Safety, Care Deeply, and Create Amazing. Founded in 2008, Magellan Jets' innovative model offers Aircraft Sales & Management, Jet Card Ownership, Membership, and On-Demand Charter services, all designed to provide the freedom and exceptional personalized service that private travelers demand. Magellan and its FAA-certificated Flight Support Department ensure every detail is tailored to exceed guests' expectations. Safety, security, privacy, and an uncompromising commitment to excellence in hospitality combine with the most heavily audited and thoroughly vetted network of aircraft in the world to let travelers experience private aviation the way it is meant to be—purely private.

SOURCE Magellan Jets