* 41% increase in EBITDA – achieves highest core profitability in company history
* 14% growth in new program sales and 10% increase in its partner fleet business
* The San Francisco-based company celebrated its 10 year anniversary in January
* XOJET will substantially increase reinvestment back into the business, including aircraft cabin refurbishment, office expansions in New York and Southern California and investments in its pilot, client service and advisor workforce
XOJET, Inc., a leader in private jet charter services, announced today that it achieved record results, delivering a 41% increase in EBITDA and a 14% increase in new program sales. XOJET's on-demand charter model continues to gain momentum as the smart alternative to jet cards and fractional ownership. XOJET was the first to pioneer the on-demand, dynamic pricing model in the private aviation sector, and this month celebrates 10 years of putting passengers first. Now the largest on-demand charter provider in the industry, XOJET continues to gain market share, with retail charter sales up 4% and its partner fleet business up 10% overall. Operational efficiency gains, including fuel savings, drove substantial profitability and margin improvements.
"The success of the company this year, and over the past 10 years, comes down to our culture of obsessive client service and dedication to continuous improvement. The market has responded and our company is healthier and more stable than at any point in its history," said Brad Stewart, chief executive officer of XOJET. "We foresee another 10 years and more of bringing the best that private aviation has to offer to our clients."
XOJET continued to expand its lifestyle offerings throughout 2015, with the addition of key partners in sports and hospitality. New partners include the NBA Champion Golden State Warriors and IfOnly, a San Francisco-based concierge services firm. The company also continued to invest in established relationships with Yellowstone Club/Discovery Land Company, Creative Artists Agency (CAA), Butterfield & Robinson, a luxury travel and adventure company, and Gavin de Becker & Associates, a private security firm.
Looking to the year ahead, XOJET will refine its product portfolio with a new and improved Elite Access program, offering guaranteed access to its core fleet and select partner fleets with as little as 12 hours' notice. With enterprise clients in high technology, media and finance, the company is investing in its enterprise sales capabilities and finding new and innovative ways to serve the needs of today's business flyers. This includes expansion of its sales offices and aviation advisor teams in New York, the San Francisco Bay Area and Southern California. The company also plans to invest in its digital capabilities, both in the user experience and supporting systems, which will make planning and booking flights even easier. "Technology is enabling us to deliver a high touch experience for our clients: in the way we communicate, engage and take care of their needs," said Shari Jones, chief marketing officer of XOJET.
XOJET, a TPG portfolio company founded in 2006, has become the industry's premier private aviation services company, serving more than 5,000 clients worldwide. Our unique business model combines the flexibility of on-demand flying with a world-class service and operations infrastructure that is dedicated to providing the highest levels of client service at every point of their travel experience. We create custom flight solutions for businesses and individuals, with a focus on serving the most sophisticated private aviation flyers from the finance, technology and entertainment sectors. XOJET's commitment to safety leadership has earned it the highest safety ratings in the industry. XOJET is the only business aviation provider to rank either #1 or #2 in all twelve ARG/US Platinum safety-rating categories. For more information, please visit www.xojet.com.