XOJET reports 12% mid-year growth in revenue

Private aviation company XOJET has reported 12% growth in total revenue in mid-year 2018, the company said.

First quarter showed year-over-year increases of 15% in overall business and 39.5% in Off-Fleet Charter Brokerage, supporting continued strategies for expansion.

As the leading charter brokerage in North America, XOJET´s off-fleet business continues at an unprecedented pace in 2018 with a 22% increase in revenue and a 12% increase in hours in the first half of the year.

Off-fleet charter made up 34% of overall revenues during the same time period, putting XOJET well on its way toward its goal of having charter brokerage account for 50% of revenues by 2020. This success is in part a result of increasing its Preferred Partner Network of aircraft by 40% to 1,400+ aircraft in light- to large-cabin sizes, which expanded the company´s ability to deploy a larger variety of jets and flights to service more client missions.

The company is also now focused on increasing its share of corporate clients as more firms sell-off owned aircrafts and seek alternative solutions for efficient travel.

The company´s on-fleet revenue also remains healthy with a 6% year-over-year increase, based on higher fleet efficiency, utilization and pricing. The company has also started a fleet expansion program and recently took delivery of two Citation X aircraft, further strengthening XOJET´s position as North America´s largest on-demand operator of super mid-sized private aircraft.

In the first half of 2018 XOJET added seven luxury brands to its portfolio of world-class partners.

Founded in 2006, XOJET is the largest on-demand private aviation services platform in North America, blending the expertise of a fleet owner-operator with the client-centric approach of a leading brokerage.