XOJET Aviation LLC explained

Airline:XO Global LLC
Icao:XOJ
Callsign:EXOJET
Founded:2006
Fleet Size:180
Aoc:AWKA298C[1]
Headquarters:Fort Lauderdale, Florida, United States
Founder:Paul Touw, co-founder
Keith Krach, Co-founder
Key People:Andreas Mauritzson, President & COO
Parent:Vista Global

XO (formerly XOJET) is a US-based private aviation company and subsidiary of Vista Global with its headquarters in Fort Lauderdale, Florida. XO, with a worldwide fleet access of more than 1,450 private aircraft, offers clients on-demand private jet charters with fixed-price membership programs as alternatives to jet cards and fractional ownership of aircraft. The company also offers the ability to purchase individual seats on pre-arranged, shared flights.

Services

XO is an on-demand private jet company.[2] [3] It operates in the same market as competitors NetJets and Flexjet.[4] The company offers a number of private jet charter programs that allow customers to choose their arrival and departure points.[5] [6] [7] [8]

In July 2017, XOJET launched Select Access, a new $50,000 membership level; added lite- and mid-size jets to its Elite Access program; and instituted a program for membership with monthly fees.[9] In August of that year, XOJET reported it serviced more than 7,000 clients worldwide.[10]

History

XOJET was founded in 2006[11] by Paul Touw[12] and Keith Krach[13] as a private jet charter company with customers purchasing a set number of annual flight hours, similar to fractional ownership.[14] The company is based in Fort Lauderdale, Florida.[15] [16] [17]

Acquired

TPG Capital and Mubadala, two of the world's largest private capital investors, acquired XOJet in 2009.[18] [19] They shared a controlling interest in the company.[7]

In February 2017, XOJET said it had retained Perella Weinberg Partners to explore financial options, including a possible sale or merger.On September 20, 2018, Vista Global (founded by Thomas Flohr in 2018 and the parent company of VistaJet), said it had reached an agreement to acquire the fleet and commercial operations of XOJET. In April 2019, Vista purchased the Florida-based mobile booking app developer JetSmarter.[20] [21] [22]

Vista took controlling interest in XOJET in June 2019. With this purchase, Vista Global became the third-largest charter operator in the US.[23] [24] [25] Vista Global shortly afterward merged XOJET with JetSmarter, powered by JetSmarter technology.[26] [27] In 2019, the combined entity was rebranded as XO.[28] In July 2021, Vista Global announced an 82% year-on-year increase in XO deposit-members.[29]

Fleet

XO owns and operates Bombardier Challenger 300 and Cessna Citation X jets.[30] Through a preferred operator partnership program, XO has access to 1,450+ private aircraft; available types include the Hawker 400XP, Hawker 800XP and Gulfstream V.[31]

References

External links

Notes and References

  1. Web site: XOJET INC - Aircraft Operator . Avionops.com . 2022-03-20.
  2. News: Rosenbloom . Stephanie . Private Flying for (Some of) the Rest of Us . 23 February 2021 . The New York Times . 22 August 2013.
  3. News: French . Sally . Afraid of Airlines? There's Always the Private Jet . 23 February 2021 . The New York Times . 30 July 2020.
  4. News: Takahashi . Dean . Silicon Valley's airline: XOJET takes off as corporate jets lose favor . 19 February 2021 . Venture Beat . 25 November 2008.
  5. http://www.marketwatch.com/story/xojet-announces-xojet-elite-accesstm-the-next-generation-in-guaranteed-private-jet-programs-2012-03-15 WSJ Market Watch
  6. News: Calvey . Mark . Bay Area private jet company takes headquarters to Florida . 14 February 2021 . San Francisco Business Times . 29 January 2020.
  7. News: Burger . Jeff . The XOJET Difference . 19 February 2021 . Business Jet Traveler . February 2013.
  8. News: Calvey . Mark . New owner of Peninsula's XOJet wants to go after America's billionaire set . 19 February 2021 . San Francisco Business Times . 20 September 2018.
  9. News: Williamson . Carrie . Fly Private, Do Safely . 14 February 2021 . Leader's Edge Magazine . 25 September 2020.
  10. News: Larsen . Keith . Private jet charter company opens office at Palm Beach airport . 19 February 2021 . South Florida Business Journal . 9 August 2017.
  11. News: Lattman . Peter . XOJet Gets $2.5 Billion for Expansion . 23 February 2021 . The Wall Street Journal . 19 May 2008.
  12. News: XOJet starting joint venture in Middle East . 19 February 2021 . AIN Online . 19 May 2008.
  13. Web site: Most Admired CEOs 2015 . BizJournals . 20 September 2021.
  14. News: Harrison . Kirby . Economies of scale drive Xojet business model . 19 February 2021 . AIN Online . 28 September 2006.
  15. News: Bandell . Brian . Aviation firm to relocate to Fort Lauderdale, create 250 jobsl . 21 May 2021 . South Florida Business Journal . 27 January 2020.
  16. Web site: XO Invests In AI To Improve Processes As Demand Grows Aviation Week Network . 2023-02-06 . aviationweek.com.
  17. Web site: Vista Global combines XOJet and JetSmarter into XO . 2023-02-06 . ch-aviation . en.
  18. News: Lattman . Peter . 2008-05-19 . XOJet Gets $2.5 Billion for Expansion . en-US . Wall Street Journal . 2022-09-01 . 0099-9660.
  19. Web site: XO Jet becomes part of Vista group Times Aerospace . 2022-09-01 . www.timesaerospace.aero.
  20. Web site: Frank . Robert . Private jet company Vista Global to acquire JetSmarter, once touted as the Uber of private jets . 2023-02-06 . CNBC . en.
  21. News: 2019-04-10 . Vista Global Buys an Uber For Private Jets . en . Bloomberg.com . 2023-02-06.
  22. Web site: JetSmarter to be sold to billionaire's Dubai jet service . 2023-02-06 . Sun Sentinel.
  23. Web site: Gollan . Doug . Vista Global Acquires Private Jet Broker Used By Bernie Sanders, Shaquille O’Neil . 2023-02-06 . Forbes . en.
  24. Web site: Trautvetter . Chad . VistaJet's New Parent Company To Acquire XOJet . 2023-02-06 . Aviation International News . en.
  25. Web site: Sarsfield2018-09-27T10:02:31+01:00 . Kate . Vista Global strengthens US presence with XOJET buy . 2023-02-06 . Flight Global . en.
  26. Web site: Reynolds . Emma . 2019-07-02 . Vista Global Launches New Private-Aviation Brand, XO . 2023-02-06 . Elite Traveler . en-US.
  27. Web site: Blatter . Lucy Cohen . 20 Minutes With: Vista Global Founder and Chairman Thomas Flohr . 2023-02-06 . www.barrons.com . en-US.
  28. Web site: Lattman . Peter . XOJet Gets $2.5 Billion for Expansion . 2023-02-06 . WSJ . en-US.
  29. Web site: Siebenmark. Jerry. Vista Global Notes Record Growth in First-half 2021. 2021-08-13. Aviation International News. en.
  30. https://www.bloomberg.com/news/videos/2015-03-20/the-private-jet-that-feels-like-a-fighter-jet Bloomberg, The Private Jet That Feels Like a Fighter Jet
  31. Web site: XOJet Celebrates Ten Year Anniversary with Record Growth. www.sherpareport.com. 2016-05-20.

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