Flexjet's New Business Soars 20 Percent in 2016

Fractional provider Flexjet experienced a 20 percent surge in new business last year, with “significant increases” in both referrals and owners switching from competing programs, the company announced today. In fact, it said that half of its new business came from customers who previously patronized another fractional provider.

Business generated through referrals from existing Flexjet owners also grew 23 percent year-over-year in 2016. Additionally, owners joining as the result of a referral increased the number of hours they purchased by 60 percent last year, Flexjet noted.

The company also reported that its new large-cabin Gulfstream G450s were extremely popular, with 100 percent of the hours available in this fleet sold last year. “This paves the way for further G450 deliveries in 2017, as well as the ultra-long-range G650 in late 2017 and the large-cabin G500 in 2018,” it said. Overall, Flexjet took delivery of 55 new aircraft over the past 36 months from Gulfstream, Bombardier and Embraer. These include the Embraer Legacy 450, which joined its fleet last year.

“Our investment in modern aircraft, innovative programs and unprecedented levels of owner services resulted in positive and telling results,” said Flexjet CEO Michael Silvestro. “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 interiors and the world’s youngest fractional jet fleet.”