Rising deliveries of large-cabin business jets bode well for transcontinental travel
Deliveries of business jets are expected to rise over the next nine years. The latest studies suggest that larger, long-range jets will be in the highest demand. Honeywell Global Business Aviation’s latest survey predicted that 9,250 new business jets, valued at $250 billion, will be delivered by 2024. The study noted that large-cabin jets should account for more than 55% of the new deliveries.
During the same period, the on-demand charter sector is also expected to rise. IBISWorld’s latest charter-flights study notes that industry revenues should grow 2% this year, thanks to rising disposable income and corporate profits. Over the next five years, individuals and businesses both will increase their use of charter jets as economic conditions improve.
Private-aviation firms specializing in chartering transcontinental business jets have already seen those trends boost their bottom lines. XOJET, which owns the largest fleet of Citation X and Challenger 300 super-midsize business jets, expects to report a 15%–20% jump in profits this year. The company is adding 50 new members each quarter, with a 95% client retention rate.
XOJET’s CEO, Bradley Stewart, says that the company has invested $650 million into its fleet and infrastructure since it launched in 2006. “We chose super-midsize jets because they’re designed for the North American landscape,” he says. “They’re transcontinental, capable of carrying eight or nine people. Many clients are business travelers, so these are the right aircraft for these types of missions.”
The Bombardier Challenger 300 has the largest cabin in its class, with the range to fly from coast to coast. Its short-field landing capabilities allow it to access a range of small airports. XOJET’s Challengers are upgraded with the “Quiet Cabin” package and larger, redesigned seats. The Citation X is one of the fastest business jets in the world, with a cruise speed up to Mach 0.92, making a flight from Los Angeles to New York an hour shorter than on conventional business jets. The XOJET fleet is equipped with free Wi-Fi. XOJET supplements its fleet of super-midsize jets with 900 aircraft ranging from light to mid and heavy, all maintained and operated by operators that meet XOJET’s exacting standards for safety, maintenance, and quality.
XOJET offers custom charter programs and smart business solutions that provide flexible terms for different clients. XOJET Preferred Access™, XOJET Elite Access™, and XOJET Enterprise™ all offer priority access, complimentary catering, and guaranteed recovery in the event of a canceled flight. “Because we own and operate a large fleet, we recover faster than other providers if there’s a mechanical or weather problem,” says Stewart.
XOJET, 650.676.4700, www.xojet.com