SAN FRANCISCO, Jan. 30, 2019 /PRNewswire/ -- After six consecutive years of unprecedented growth, XOJET enters 2019 as part of the Vista Global group of companies. Fueled by a commanding 30+% share of the super midsize Part 135 Charter market with length of haul over three hours, the company posted notable gains across all major performance categories in 2018. With 8% growth in total revenues and 17% increase in revenues from its powerful charter brokerage operation, XOJET consolidated its position as the trusted on-demand private aviation platform in North America.
"After another banner year as a leading provider of asset-lite, private aviation solutions in the North American Market, we are looking forward to future growth and expansion as part of Vista Global," said James Henderson, president of commercial operations, XOJET.
Much of XOJET's breakthrough 2018 can be attributed to the success of its groundbreaking membership programs. Less than 18 months after launch, XOJET Access Solutions® reached over 1,000 total members across its three signature programs: XOJET Select Access® for occasional flyers, XOJET Preferred Access® for flyers with more than 25 hours of travel each year, and XOJET Elite Access® for frequent flyers who are looking for guaranteed rates and availability. XOJET Elite Access®—XOJET's highest tier of membership—showed strong growth in 2018. Positioned as a refundable jet card pairing fixed hourly rates with guaranteed access to three classes of aircraft, the program provides XOJET members with a cutting-edge, on-demand alternative to fractional ownership and conventional jet cards.
Further increasing its appeal to sophisticated private aviation consumers, XOJET continued to expand its service offerings in 2018. In addition to increasing the XOJET Aviation fleet with another two Citation X aircraft, which brings the total to 43 aircraft, XOJET grew its Preferred Partner Network fleet by 13%. Now with on-demand access to over 1,500 of the industry's most qualified ARG/US and Wyvern-rated business jets, XOJET members have more optionality than ever within each aircraft class—especially in the light jet category—and a wider range of airports and destinations to choose from. The latter rings especially true in Europe, where XOJET developed new relationships with a number of operators to strengthen its charter brokerage capacity across the region in 2018.
Another highlight of XOJET's client-centric 2018 strategy was the continued expansion of its carefully curated partnerships with select brand partners that provide affiliated services to ultra-high net worth clients. Thanks to new collaborations with world-renowned brands like Monticello Motor Club, Hertz, Onefinestay, Private Medical, Fairchild/Stones Wines, Peter Millar, Sea Island, Pebble Beach, Pinehurst and Shipsticks/Shipskis, XOJET members gained additional benefits to elevate their XOJET experience beyond the flight itself. These include exclusive VIP experiences, and priority access to some of the world's most coveted brands.
In Q4 of 2018, XOJET's milestone year culminated with the acquisition of its business aviation fleet and commercial operations by Vista Global, to become part of a commanding global network comprising 116 owned business jets, 1,500 employees and 20 offices worldwide.
2019 looks to be another defining chapter in XOJET's 13-year history. "As part of the Vista Global group we will expand XOJET's service offering, product platform and fleet network, including our global presence to advise and serve the world's growing number of private aviation consumers" said James Henderson "Being part of an at-scale global private aviation group will also provide some exciting new opportunities for our employees."
Given the steady rise of asset-lite models in favor of traditional ownership, XOJET is well positioned to expand its fleet, global reach, and membership base.
Contact: Caitlin Sawyer, 212.868.1900 x602, [email protected]