Flexjet Announces Strong Performance Results, With New Business up 20 Percent Year over Year
February 23, 2017
Significant Growth from Referrals and Owners Joining Flexjet from Other Fractional Providers
CLEVELAND, February 23, 2017 – Flexjet LLC, offering travelers access to the world’s most luxurious fleet of private jets, today announced robust 2016 performance results, including a 20 percent surge in new business in 2016 versus 2015, and significant increases in both referrals and Owners coming to Flexjet from its competitors.
“Our investment in the world’s most modern aircraft, innovative programs and unprecedented levels of Owner services resulted in tremendously positive and telling results. This success can be attributed to, in part, the recent introduction of the Red Label offering, which features flight crews dedicated to a single aircraft, highly distinctive artisan interiors and the world’s youngest fractional jet fleet,” said Flexjet Chief Executive Officer Michael Silvestro. “We are especially enthused that much of our growth has come from Owners who formerly were customers of other fractional providers, as well as referrals by existing Flexjet Owners to their friends and colleagues, validating the fresh approach and innovations we have brought to the fractional private jet industry.”
Among the key results in 2016:
- New to the Flexjet family: Business from customers completely new to Flexjet was up 20 percent.
- Record conquest sales: Half (50%) of new business in 2016 came from customers who previously patronized another fractional private jet provider, the highest level ever for such “conquest sales”.
- Referrals up: In the ultimate validation, business generated through referrals from existing Flexjet Owners grew 23 percent in 2016 versus 2015; in addition, Owners joining as the result of a referral increased the number of hours they purchased by 60 percent in 2016.
- Red Label success: One-third (33 percent) of all Flexjet Owners are now flying under the Red Label by Flexjet premium offering, which launched only in the fourth quarter of 2015, but has proven to be a leading differentiator.
- Large Cabin Popularity: In 2016, 100 percent of the hours available on Flexjet’s fleet of Gulfstream G450 large-cabin aircraft were sold; this paves the way for further G450 deliveries in 2017 as well as new additions to the fleet, including the ultra-long-range Gulfstream G650 in late 2017 and the large- cabin Gulfstream G500 in 2018.
- New aircraft deliveries continue: Flexjet continued to accept deliveries of new aircraft in 2016; in the past 36 months, it has received 55 new aircraft from Gulfstream, Bombardier and Embraer. Deliveries in 2016 included the company’s first Embraer Legacy 450, an aircraft Flexjet introduced to the fractional industry. The Legacy 450 will be the backbone of a midsize-cabin program that is seeing unprecedented demand alongside the ever-popular Challenger 350 super-midsize-cabin offering.
Among the factors in Flexjet’s success was the launch in late 2015 of Red Label by Flexjet, which delivers to fractional Owners a private flying experience as personalized as whole aircraft ownership. Red Label features access to the world’s youngest fractional jet fleet, custom cabin interiors that are some of the finest ever to traverse the skies and flight crews dedicated to a single aircraft, something that is unique in the fractional market. The customization alone is unprecedented: Currently, there are more than 20 unique designs available in Flexjet’s LXi Cabin Collection, available through Red Label.
Another factor in Flexjet’s attractiveness was the opening of the first of many Flexjet-exclusive private terminals. The launch facility, at Naples Municipal Airport in Naples, Florida, serves Flexjet Owners flying in and out of Southwestern Florida. It provides a variety of amenities including sheltered and shaded parking spaces, onsite Owner Experience representatives, conference rooms, private workspaces and Wi-Fi access. A second private terminal will open at Westchester County Airport in New York early in 2017, and others are planned throughout the country.
Flexjet also continued to receive recognition for its commitment to safety. It recently earned its fifth consecutive Aviation Research Group/US (ARG/US) Platinum Safety Rating, the most prestigious aviation safety rating in the United States. Flexjet has now received the biennial Platinum rating for five consecutive two-year periods since 2008. Earlier in 2016, the Federal Aviation Administration (FAA) awarded Flexjet its 17th consecutive Diamond Award for Excellence. Flexjet has garnered more FAA Diamond Awards than any other provider of private jet travel and earned its 18th award just this month. With Flexjet’s growing fleet of ultra-long range aircraft, the company also pursued and completed the IS-BAO audit and is registered as compliant with the global standard. This compliance is an international standard of excellence in safety programs.
Flexjet first entered the fractional jet ownership market in 1995, and celebrated its 21st anniversary in May
2016. Flexjet offers fractional jet ownership and leasing. Flexjet’s fractional aircraft program is the first in the world to be recognized as achieving the Air Charter Safety Foundation’s Industry Audit Standard, is the first and only company to be honored with 18 FAA Diamond Awards for Excellence, upholds an ARG/US Platinum Safety Rating and is IS-BAO compliant. Flexjet’s fractional program fields an exclusive array of business aircraft—some of the youngest in the fractional jet industry, with an average age of approximately six years—including their LXi Cabin Collection consisting of the Learjet 75LXi, Challenger 350, the Embraer Legacy 450 and 500, Global Express, the Gulfstream G450, G500 and G650, and the Aerion AS2 supersonic business jets. In addition, the overall jet collection includes the Embraer Phenom 300, Bombardier Challenger 300 and 605. Flexjet is a member of the Directional Aviation family of companies. For more details on innovative programs and flexible offerings, visit fxmultiprod.wpengine.com or follow us on Twitter @Flexjet.
The Hubbell Group, Inc.