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.
