XOJET Citation X
Confidence in XOJET’s unique operating model continues to grow as customers
seek value-driven alternatives to full or fractional ownership.
ORLANDO, Fla., Oct. 21 /PRNewswire/ — Today, at the National Business
Aviation Association’s Annual Conference, business aviation leader XOJET
announced financing totaling US$470 Million. This consists of US$100 million
in equity and a more flexible debt facility of $370 Million that allows for
the purchase of either new or used aircraft on a global basis. Financing is
being led by TPG, a Fort Worth based private equity firm, and Aabar, an Abu
Dhabi based investment firm. XOJET will use the additional capital to expand
its operations to meet the growing demand for quality business aviation
services and low risk, high quality, cost efficient alternatives to fractional
ownership.
“This latest round of financing is evidence of the growing confidence in
XOJET’s operating model,” said David Siegel, CEO of XOJET. “We uniquely offer
what customers now demand and other operators simply cannot provide – a low
risk, high quality, cost efficient alternative to fractional ownership without
ever compromising on service quality or safety.”
XOJET’s recently announced Membership with “Best Price” uniquely offers
clients all the benefits of being in a guaranteed-availability program with no
upfront share purchase while, at the same time, providing pricing advantages
that can come with market-rate charter. “XOJET has a unique market advantage.
Since we own and operate our own fleet of aircraft we can give you an apples
to apples charter quote – on demand,” said Siegel. “There’s no need to
comparison shop, no need to deal with multiple brokers or operators and no
need to risk quality, consistency or reliability. We’ve taken all of the
guesswork out of the process.”
XOJET is the only private aviation company that can credibly offer this type
of service and provide customers with total assurance that they are receiving
the best pricing possible on our fleet. XOJET serves corporate flight
departments, private businesses and high net worth individuals.
XOJET has earned the distinguished Platinum rating from Aviation Research
Group/US (ARG/US) for the company’s rigorous operational standards. The rating
is widely recognized as the ultimate acknowledgement of excellence in
operational practices and flight safety standards, and is the highest-level
safety audit rating in private aviation.
About XOJET
Founded in 2006, XOJET has quickly become one of the world’s fastest growing
private aviation companies, built on a unique business model that combines
private jet ownership, membership and charter travel and a singular focus on
providing the highest level of customer service at every point of the client’s
experience. XOJET is backed by TPG, a leading global private investment firm
with over $45 billion of capital under management.
XOJET’s award-winning, in-house safety and maintenance program rivals the
world’s best commercial airlines, and has earned the highest ranking in four
key categories – more than any other operator – from Aviation Research Group.
XOJET has also been named a Robb Report “Best of Private Aviation” winner and
one of Inc. Magazine’s fastest growing companies. For more information, visit
www.xojet.com or call 888-759-6538.
SOURCE XOJET
Amanda Schuon of Truth Be Told, Inc., +1-310-550-7200, amanda@tbtpr.com, for
XOJET
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