One of the leading providers of fractional jet ownership, reported strong results for the first half of 2018. Flexjet saw sales increase 17 percent compared to the same period in 2017. As part of this increase, Flexjet saw a 76% growth in customers who were completely new to the company.
Flexjet told us that more than four in 10 (42%) of all owners now fly under their premium offering “Red Label by Flexjet”. This includes access to the industry’s most modern fleet of aircraft, artisan aircraft interiors in the LXi cabin collection and crews assigned to a single aircraft. These unique interiors feature more than 25 different designs across the fleet.
The aircraft that make up the Red Label fleet include:
- Embraer Legacy 450 midsized jet
- Challenger 350 super midsized jet
- Gulfstream G450 large cabin jet
- Gulfstream G650 ultra-long-range jet
- Bombardier Global Express ultra-long-range jet
Owners can certainly still buy into non-Red Label aircraft and that fleet is made up of the Embraer Phenom 300 light jet and the Bombardier Challenger 300 super midsized jet. Flexjet noted that both are still mainstays of their fleet and they continue to add more of these.
Flexjet has seen an increased demand for long-range international missions. This is reflected in a more than 100 percent increase in Gulfstream G450 sales during the first half of 2018. In addition, all the available hours in the new Gulfstream G650s, which were delivered to Flexjet late in 2017, were sold by year-end. Their G650 fleet will be increased to four by the end of 2018.
A total of 19 new aircraft will be delivered to Flexjet by the end of this year. These aircraft include the G650s, additional Embraer Phenom 300s and Legacy 450s and Bombardier Challenger 350s. Since 2015, Flexjet has taken delivery of 60 aircraft.
“During the past several years Flexjet has delivered the fractional industry’s youngest fleet, expanded service overseas and introduced innovative programs such as our Red Label by Flexjet premium offering. The results of this investment are clear: Strong growth, driven in large part by the satisfaction of current Owners,” said Flexjet Chief Executive Officer Michael Silvestro. “The growth we have achieved is only a start as we strive every day to be the world’s premier private jet travel provider.”
The company focus is primarily on the fractional ownership and leasing side of the market, although they do offer a jet card program in the Phenom 300 light jet and Challenger 300 super midsized. Flexjet told us it tends to be “very popular among existing owners looking to gift hours to their family members, people looking for a quick 25-hour solution for a specific need or those that want to give us a test ride before committing to lease or share.”