Press Release

Issued by XO.

July 22, 2014

XOJET, Inc., a leader in private jet charter services, today announced that it is on track to exceed mid-year profitability and growth expectations, delivering 60% increase in core profitability and 3% increase in sales revenue.

Continued traction in the marketplace with XOJET's service-driven, on-demand charter model and general improvement in the economy, drove strong demand in both business jet use by corporations and leisure travel. The company has also seen increased awareness and website traffic following the launch of its Take Command™ advertising push earlier this year. Continued favorable fuel costs and efficiencies in the operation of XOJET's fleet of Citation X and Challenger 300 aircraft helped buoy profitability and margin improvements.

Continued growth in the economy has seen an uptick in XOJET's Enterprise solutions business, with corporations in particular stepping up their use of private jets. Over the last six months, XOJET has added a record number of Enterprise clients from the Fortune 100 across a range of industries, including technology, finance and entertainment. "There has never been a better time to fly private. As the economy continues to strengthen, we're seeing more and more enterprises return to corporate jets as a solution for their executive teams. On-demand charter models like XOJET make it easier and more cost effective for businesses and individuals to fly how they want and when they want," explains Bradley Stewart, president and ceo of XOJET. "More and more, people are recognizing that you don't have to own a plane to fly like an owner. The future of this industry is the asset-lite, on-demand, dynamic pricing model," affirmed Stewart.

A pioneer in the on-demand charter model, XOJET has seen on-going traction and continued market-share growth. Currently the third largest private aviation brand in the U.S., XOJET added over 100 new clients to its popular Preferred Access™ program since the beginning of the year. In answer to increased demand for its products, XOJET has ramped up its retail sales advisor team, bringing the team to a total of 42 aviation advisors, from 20 advisors a year ago. XOJET already maintains sales offices in New York, San Francisco and Los Angeles and recently opened a new office in Orange County to serve its growing client base in southern California. In answer to increased client demand, the company also announced it will be acquiring an additional Challenger 300 aircraft, adding to its owned and operated fleet of super midsize jets. The latest Challenger 300 will join the fleet by September in time for peak season flying over the holidays.

"We're really seeing traction in the marketplace with our advisor model. Clients trust us to bring them options – whether it's on our fleet or on one of our partner fleets. Our partner fleet revenue has increased 50% in the last quarter versus last year, which is a clear indication that clients are coming to us not only for our fleet of Challenger 300 and Citation X aircraft but for our full service, end-to-end solutions. We're becoming a one-stop-shop for all of our clients' business jet needs," said Gregg Slow, evp of sales and client services.

Looking ahead to the balance of 2014, XOJET anticipates further performance gains as clients return from summer travel and business flying kicks into full swing. "I anticipate we will see the strongest year in a long time for private aviation travel. The economic indicators are improved and clients are demanding more flexible, more client-centric solutions. XOJET was built on the notion of putting clients in command of their flying experience. We're positioned to do well in what should be a banner year for private jet travel," concluded Bradley Stewart.