Magellan Jets forecasts revenue of $115m in 2022
Magellan Jets is forecasting a $35m increase in annual revenue to reach $115m this year. Last year the charter company posted annual revenues of $80m.
Anthony Tivnan, President of Magellan Jets, told CJI. “We believe this to be a very conservative number for us in 2022. Client retention and re-orders will remain a leading key performance indicator for our services teams. We also are looking at very predictable forecast models based on the number of hours sold and new memberships and charter accounts added in 2021.”
The company has invested heavily in technology and infrastructure that Tivnan says is a key factor in their growth in revenue. “We have developed an easy, effective and efficient platform to get our company closer to our customer, closer to our owners and create a loyalty-generating experience.” He said. “The ability to complete transactions with stored data, preferences, and profiles not only saves time, but also reduces the margin for error. The applications we’ve built for internal use are not only connecting our customers with our colleagues, but also cross departmentally as well.”
Magellan Jets launched a membership product in the third quarter (Q3) of 2020 in direct response to the new market the firm encountered, “much of it motivated by the pandemic”, added Tivnan. Last year the Boston-based company achieved a 434% increase in membership.
“The ability to adapt and manoeuvre through many unforeseen and changing circumstances was important for all of us in 2021. Flight scheduling, contingency planning, and the openness to make changes to our programmes and communicate them with our customers was very different than I’ve seen in all my years in aviation,” said Tivnan.
Magellan Jets CEO, Joshua Hebert, said the company’s growth this year is a direct result of its “seasoned staff” and owner-operator partners working together to exceed customer expectations. “The challenges we faced—unprecedented demand, ongoing pandemic, supply chain crisis—are the same problems facing the entire private aviation industry, but Magellan has been able to stand out and succeed by tailoring ourselves to customers’ needs and over communicating every step of the way,” he said.