Fractional Ownership News
Jet company secures financing
Business aviation company XOJET has 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" 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."
www.xojet.com
23/10/09
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