Flexjet LLC, a leading provider of fractional jet ownership, today announced strong performance results for the first half of 2018, with fractional and lease sales increasing 17 percent over the same period in 2017. New business grew even more strongly, expanding by 76 percent year over year; additionally, more than half (57%) of new Flexjet Owners came through referrals, indicating strong satisfaction among existing Owners.
“During the past several years Flexjet has delivered the fractional industry’s youngest fleet, expanded service overseas and introduced innovative programs such as our Red Label by Flexjet premium offering. The results of this investment are clear: Strong growth, driven in large part by the satisfaction of current Owners,” said Flexjet Chief Executive Officer Michael Silvestro. “The growth we have achieved is only a start as we strive every day to be the world’s premier private jet travel provider.”
Other notable results from the first half of 2018 include:
- Red Label is a genuine differentiator: More than four in 10 (42%) of all Flexjet Owners now fly under Red Label by Flexjet, which includes features available nowhere else in fractional private jet travel including access to the industry’s most modern fleet of aircraft, artisan aircraft interiors in the LXi Cabin Collection and crews assigned to a single aircraft.
- Large cabin popularity grows: The increased demand for long-range international missions is reflected in a more than 100 percent increase in Gulfstream G450 sales during the first half of 2018. All available hours in the new Gulfstream G650s delivered late in 2017 were sold by year-end.
- New aircraft deliveries continue: In order to meet demand, the G650 fleet will be increased to four by the end of 2018. Counting the G650s, a total of 19 new aircraft are to be delivered by the end of this year, including additional Embraer Phenom 300s and Legacy 450s and Bombardier Challenger 350s. Since 2015, Flexjet has taken delivery of 60 aircraft, resulting in the fractional private jet industry’s youngest fleet.
Corporate Solutions launches: In order to help corporate flight departments that maintain and operate their own fleets of aircraft enhance their capabilities and efficiencies, Corporate Solutions by Flexjet was launched. It expands Flexjet’s ongoing support of flight departments by providing both supplemental lift and hybrid solutions, leading to more optimized use of existing company-owned fleets when paired with access to Flexjet’s floating fleet of aircraft located throughout the world from all categories.