April 3, 2024
Changes in the XOJET Elite Access programs are designed to make its product more attractive for flights under three hours representing over 80% of private aviation flying.
If it’s Tuesday, there must be something new over at XOJET. Since last summer at least, the company has been regularly making news of all shapes and sizes. Big news included its move to membership fees, adding new Mid and Light Jet programs, enhancements to its safety programs (It is already a IS-BAO Stage 3 operator in addition to Wyvern Wingman and ARGUS Platinum) and last week’s announcement that it had retained Perella Weinberg Partners to explore options from acquisitions and mergers to a sale or gaining new investment. On the smaller side has been a constant drip of new lifestyle partners – Hertz, Canyon Ranch, Pinehurst – as well as confirming its fleet refurbishment, and using enhanced technology to gain fleet efficiency. It also opened its first sales office in Florida, located in Palm Beach. Last week when we caught up with Chief Commercial Officer James Henderson we asked him to expand on a small note in its most recent press release that more program announcements were coming, and he shared some details with Private Jet Card Comparisons that are being released today.
“When we introduced Access Solutions Memberships in July last year we primarily focused on our dynamically priced programs, Select Access and Preferred Access. These have been extremely successful, and we exceeded our targets for memberships by over 40% last year,” Henderson said, adding, “We decided to wait until now to reintroduce Elite Access and use the opportunity to ensure we had the most competitive guaranteed rate product in the market.”
Henderson continued, “The changes in Elite Access are designed to have broader appeal across classes and make it as seamless and frictionless as possible. It is priced 15% lower than the leading SuperMid Jet Cards and 40% lower than fractional and this is our target market.”
In an interesting insight, Henderson claimed, “We already have 35% market share (for our XOJET Fleet) of the Part 135 market (of flights) three hours (and longer)…and with this new product it will enable us to have a much more compelling offering in the 1.5 to 3-hour space. With the long haul discounts, it also makes for an extremely compelling guaranteed rate product for transcons.”
In terms of Elite Access guaranteed pricing, SuperMid is $8,500 per hour, Midsize is $6,750 and Light Jets are $5,500 per hour, including 7.5% Federal Excise Tax (FET). Lead time for reservations remains 24 hours and 120 hours for Peak Days. The Midsize and Light Jet programs remain regional, east of the Rockies and Mississippi, respectively.
“Coming from fractional or jet card programs, many clients are looking for a predictable, fixed rate that makes it simple to plan their flights, and Elite Access does just that,” noted Gregg Slow, executive vice president of sales and client services. “This is perhaps the greatest, guaranteed super-mid product on the market, and it now completes our suite of products that appeal to a wide assortment of private flyers.”
