Riding the wave of recent increased charter activity, private jet operator XOJet is continuing its expansion plans following the two strongest quarters in the company’s history. While statistics from aviation specialized services firm Argus show a 5.89-percent increase in domestic charter flights through the first half of the year, compared with the same period last year, San Carlos, Calif.-based XOJet saw the year begin with a 31-percent increase in flight hours over the previous January, and on a year-over-year basis it showed a 24-percent increase in departures for the first half, greater gains than any fractional provider has achieved, according to the company.
The company credits its upturn to a fundamental change in the fractional industry. “I think the market is shifting from long-term ownership contracts to more flexible contracts, so as people stop buying airplanes, they are looking for alternatives and we fit there,” said XOJet CEO Blair LaCorte. “I wish we could say we had predicted there would be a cyclical downturn right at the time we were ready to expand, but I’ll take it.” As part of that expansion, the company is opening new business offices in New York City and Los Angeles, and is continuing to accept aircraft deliveries.
With the addition of four new Challenger 300s so far this year, XOJet’s fleet currently consists of 26 super-midsize jets (19 Cessna Citation Xs and seven Bombardier Challenger 300s). The company also plans to take delivery of its first large-cabin jet, a Challenger 605, in December.
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