The Growth & Evolution of FXAIR Premium Jet Charter

FXAIR is a growing provider of on-demand jet charter services and a member of the Directional Aviation family of companies. Since its founding in 2020 it has grown significantly. SherpaReport recently caught up with FXAIR President Gregg Slow.

Company Overview

FXAIR offers premium on demand charter with a high level of service. The company now has 60 employees and is approaching $200 million in revenue, with a rebranded second-generation fleet called FX select aircraft. Being part of the Directional Aviation group it has sister companies, such as Sentient for jet cards and Flexjet for fractional ownership. “The elegance of a premium on demand charter brand is what we're really looking to build here,” said Gregg Slow.

And he added, “One of the beauties about being in this Directional family of companies is we can take our clients and show them other alternatives. So, if they're real light jet flyers, and they want a card, we introduce them to Sentient, if they want a fractional, we introduce them to the Phenom 300 product at Flexjet.”

There are three ways to engage with FXAIR. The first way is just on demand, “pay as you go”, for each flight. The next is “Aviator”, a debit card model, and the third is called "Aviator+", which comes with some fixed rate pricing. These Aviator programs are covered in more detail below.

Aircraft

FXAIR provides access to an open fleet of premium aircraft selected from a curated network of elite providers. These providers are highly vetted – less than 35% of the open fleet operators meet FXAIR’s stringent criteria. In addition, FXAIR offers limited access to a closed fleet of pre-owned FXSelect aircraft including the Embraer Praetor 300 light jet, Bombardier Challenger 300 super midsize, Global Express large-cabin aircraft, and Sikorsky helicopters.

With the exception of the helicopters, these FXSelect aircraft were formerly part of Flexjets fractional fleet, are operated by Flexjet, and engage the resources of the Flexjet Global Operations Control Center.

Gregg Slow told SherpaReport that about 50% of flights are on the partner fleet and 50% on the FX Select fleet. For the FXSelect planes this means they are doing about 800-1,000 hours per month across the fleet with a split about 70% super-mid and large cabin and 30% light jet, said Gregg.

They are also doing well in large cabin and ultra long range – providing trans-continental flights and flights to the Middle East and Europe, “I've seen an enormous uptick in that type of business coming to FXAIR,” said Gregg Slow.

Another interesting trend that they are seeing is a younger generation of flyers. It used to be the 50’s was the starting point for people moving into private aviation, but Gregg says this has now moved to people in their 40’s.

Aviator Program

The Aviator Membership is a premium on demand, dynamically priced product that's an ease-of-use charter product. It requires a $100,000 deposit, which serves as a debit account for flight hours and associated costs. The money on the account never expires and is fully refundable. This membership grants preferred access to the FXSelect fleet. Members benefit from the convenience of instant approval via email, complimentary in-flight catering and de-icing included on the FXSelect fleet.

“There's no monthly membership fee. There's no fee to get into the program, and it eliminates a lot of the annoyances that our customers have told us that they encounter in charter. They don't want to pay for catering or get nickel and dimed, so we eliminate that,” said Gregg Slow. “Clients don't have to sign documents every time they fly. So, they find that they sign one master agreement. It's really an ease-of-use product that our customers have gravitated to. And because it’s charter we're getting engaged. We're not getting married.”

Aviator+ Program

The Aviator Plus program offers guaranteed set rates on the Phenom 300 and Challenger 300, for 325 days a year, with a monthly membership fee of $1500. On the other 40 blackout days flights are dynamically priced. This program is for clients who want guaranteed access to the FXSelect fleet and requires a non-refundable $200,000 deposit. Aircraft are available with as little as 120 hours’ notice.

“This product is for customers who really enjoy the FXSelect aircraft and a fixed rate option. But they're not ready for a fractional or a jet card,” said Gregg Slow.

In total the Aviator and Aviator+ programs now have 500 members.

Private Aviation Advisors

Gregg Slow was keen to note that “It is not just the access and agility that makes FXAIR member programs so unique, it is the meticulous, personalized service provided by our private aviation advisors.”

The private aviation advisors go through all mission-critical information with each client, such as passenger details, luggage expectations and ground transportation requirements. They will also inquire about any special needs or travel necessities to ensure no detail is missed and follow up post flight to ensure expectations were met, gather feedback, and note preferences for future flights. The key element Gregg conveyed on this, was that it is in person, so it’s not reliant on impersonal forms, or screens or texts, but it’s a real conversation.