Flexjet grows first-half sales by 17%

Flexjet accepted delivery of its first Gulfstream G650 at the Global Headquarters in Cleveland, Ohio Friday Oct. 6, 2017. (Jason Miller/AP Images for Flexjet)

Fractional and lease sales at Flexjet grew by 17% in the first half of 2018, when compared to the same period the previous year.

The increase in sales was driven by new business, which jumped by 76% over the period.

“During the past several years Flexjet has delivered the fractional industry’s youngest fleet, expanded service overseas and introduced innovative programs such as our Red Label by Flexjet premium offering. The results of this investment are clear: Strong growth, driven in large part by the satisfaction of current Owners,” said Michael Silvestro, CEO, Flexjet. “The growth we have achieved is only a start as we strive every day to be the world’s premier private jet travel provider.”

Flexjet is expecting to have taken delivery of 19 new business jets by the end of the year. Aircraft types to be delivered include the Phenom 300, Legacy 450 and Challenger 350. Additional Gulfstream G650s are also due to be delivered, doubling the fleet size from two aircraft to four.

The company says that it has seen an increase in demand for long flights and that it saw an increase of 100% in Gulfstream G450 sales during the first half. This is in direct contrast to the Argus data published earlier in the month that notes that large-cabin flight hours for fractional operators were flat.

During the first half of the year, the firm also launched ‘Corporate Solutions by Flexjet’: a new division that extends the company’s corporate flight department’s offerings, by proposing hybrid fractional solutions and supplemental lift as and when needed.