California-based XOJet has announced record profitability and increased growth – a fitting way to celebrate the private jet charter company’s tenth anniversary.
The proof of XOJet’s success? A 41% increase in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), 14% growth in new program sales, and a 10% increase in partner fleet business. The company further announced that it will “substantially increase reinvestment back into the business.” Planned improvements will include refurbishment of aircraft cabins, office expansions on both coasts, and increased investments in the workforce.
XOJet was founded in 2006 with the goal of creating an alternative to fractional jet ownership while still offering flexibility and personalized high-quality service. Since then it has become one of the leading private aviation service providers, with more than 5,000 clients. The company prides itself on its #1 or #2 ranking in all of the ARG/US Platinum safety-rating categories, the only business aviation provider to be able to make such a claim. In addition to its own fleet of 17 Challenger 300's and 24 Citation X jets, XOJet has access to 1,000 additional private jets through its partner program. This partner fleet includes access to a full range of aircraft, including the Hawker 800XP and the Gulfstream G-V.
In addition to its on demand charter service, XOJet offers clients three different jet card like programs:
- Preferred Access is designed to meet the needs of most modern private flyers. Members have on-demand priority access to the company’s fleet of aircraft. Once an account is set up, with a starting value of $200,000, Preferred Access members can use those funds at any time. Funds never expire and a personal Aviation Advisor is available to ensure each member gets the best market rates and value for money. Members also earn a 4% reward on all flights booked using the XOJet fleet. Flights also include a complimentary catering credit of $250.
- Elite Access is an invitation-only program, giving its members access to guaranteed use of the XOJet fleet, with as little as 12 hours’ notice. With a deposit of $100,000, members are guaranteed a fixed hourly rate. There are no long-term commitments, no hidden costs, no cancellation penalties (providing changes are made in advance), and no penalties for over or under flying. Again, members have the assistance of an Aviation Advisor. All Elite Access flights have a $400 complimentary catering credit. Hourly rates are set according to length of flight and aircraft type.
- XOJet Enterprise is designed to meet the needs of Fortune 500 companies and other business leaders. A team of Aviation Advisors works to assess each company’s needs and to create a custom flight program to suit those needs. They also create a personalized portfolio, noting the preferences of each executive, thereby ensuring that when they step on the plane, everything is to their liking. Catering and ground transportation are also arranged.
XOJet’s chief executive officer, Brad Stewart, attributes the company’s success to “our culture of obsessive client service and dedication to continuous improvement.” He goes on say that “Our company is healthier and more stable than at any point in its history. We foresee another 10 years and more of bringing the best that private aviation has to offer to our clients.”