XOJET says Q1 brokerage revenue jumped 39.5%

Following re-launching and expanding its jet cards, the operator and broker is also planning to add new private jets in 2018

XOJET is planning to add “three or four aircraft” to its fleet of 41 Challenger 300s and Citations Xs, according to an interview in Aviation International News. “We’ve been spending the last few weeks doing very detailed financial analysis and projections, based on which type of aircraft, what age, [and] the maintenance costs,” XOJET president James Henderson told the aviation trade journal. He also said charter revenue was up 39.5%. Read the entire interview here.

Additionally, XOJET tells Private Jet Card Comparisons:

• XOJET saw a very strong Q1 with overall revenues for business up by 15%, charter brokerage revenues up by 39.5% over Q1 2017, and XOJET dominating market share by 34% of Part 135 market for LOH over 3 hours.
• March was the highest revenue month in XOJET history with record numbers achieved both on- and off-fleet.
• Expansion of Access Solutions membership program remains consistent and well above targets, projecting close to 1,000 memberships within the first year of launching
• The increase in the number of aircraft that XOJET owns and operates will dictate pilot recruitment. 
• XOJET off-fleet business is hitting its stride, where last year off-fleet business was 30% of overall revenues, this year it is 36% of overall revenues, with a goal to be at 50% by 2020.
• XOJET says it has 34% of the market share of the Part 135 charter market for the length of haul over three-hours

For our updated Jet Card Insider review of XOJET’s card programs, click here.