Is XOJET in play? The company said it is looking at raising new funds, a merger, sale or strategic alliance.
In order to best position XOJET for continued growth and expansion, Perella Weinberg Partners has been engaged as a strategic advisor to explore a range of options that may include a capital raise, merger, sale of the company or a strategic alliance, according to a statement received by Private Jet Card Comparisons. The company was started in 2006 and has over 450 employees, 41 of its own aircraft and over 1,300 additional private jets in its broker network. The company has a 24/7 operations center spanning 21,000 sq. ft. in Sacramento, CA. The firm also recently completed the purchase of two Citation X aircraft and is planning to expand the fleet with additional aircraft acquisitions in 2018. Last year, it continued a refurbishment of its current fleet and launched a new membership fee model program. Current key investors include TPG Capital and Mubadala.
The Canadian private jet charter broker is bringing a fixed markup model to its Jet Card
Canada-based upstart Jettly is bringing its fixed pricing markup model of private jet charter to the Jet Card segment. It follows Wholesale Jet Club last year as well as Paramount Business Jets, which both sell Jet Cards using a fixed markup over operator pricing. U.K.-based Victor has said it will launch a deposit product in the U.S. early this year. In the case of Jettly and Wholesale Jet Club, the programs also include a monthly or annual fee in addition to the fixed markup.
On-demand private jet charter broker Victor has raised $18 million from BBA Aviation, BP Ventures and existing shareholders
Following Victor’s BP Ventures-led Series B investment round of $20 million in September the company is back raising more money, including the creation of a new corporate umbrella that will be known as Alyssum Group Ltd. Victor said it will now which pursue an “acquisitive strategy within general aviation sector,” according to a press release received by Private Jet Card Comparisons. It said this new money signals closure of the Series B process as Alyssum Group gears up for planned Series C investment round in mid-2018. Victor Founder & CEO Clive Jackson appointed Group Chief Executive of Alyssum Group.
82% of personal assistants find booking private aviation flights on short notice is a major challenge
A new survey of personal assistants by on-demand charter broker Victor revealed 82% of survey respondents found that finding flights on tight turnarounds is a major challenge they face when coordinating private jet travel. To me, at first reading, the findings weren’t surprising: booking on-demand charters require vetting both jets, operators, and prices each trip, handling payments, which can be complicated in some companies, and often submitting passenger information, catering and so forth. It also means in the event of disruptions, you are at the mercy of your broker to figure out replacements and minimize extra expense.
The move comes as Wheels Up, VistaJet, JetSmarter, JetSuite and Victor have all announced new funding to power expansion
U.S.-based Bird Dog Jet has been acquired by U.K. PrivateFly, according to an email from the latter. “I wanted to share some exciting news with you about our continued expansion. 2017 has been a record-breaking year for us, showing another plus 50% growth rate. We’ve been busy arranging more flights, for more customers, than ever before. And I’m now delighted to be able to announce PrivateFly’s takeover of Bird Dog Jet, a US charter broker. They will join our existing US team based in Fort Lauderdale, to enable us to fly more clients within North America, the Caribbean and further afield,” wrote Adam Twidell, CEO of PrivateFly in an email to customers.
The jet charter broker is offering special holiday sale charter prices this week starting at $3,990
On-demand charter broker Victor is offering a Cyber Monday Sale, released on Travel Tuesday and valid until Friday, December 1, 2017. “Private Flight Deals for Victor’s Cyber Week” expire at midnight Friday. According to an email, the promotion is valid on trips occurring between December 4, 2017 and March 30, 2018.
U.K.-based on-demand charter broker Victor will bring a “floating balance” prepaid program to the U.S. by early next year
Fast growing on-demand charter broker Victor said it will launch a program with a prepaid option for U.S. customers in early 2018. The U.K. company is not going to offer guaranteed availability or hourly rates so it will be more in line with what used to be described as block charter. Clive Jackson, Victor’s founder and CEO tells Private Jet Card Comparisons a similar program offered in Europe has been highly successful.