Flexjet's Sales Soar 17 Percent in First-half 2018

 - September 11, 2018, 9:58 AM
Flexjet has reported a 17 percent uptick in fractional aircraft and lease sales in the first quarter. Meanwhile, its Gulfstream G650 program has been very well received by customers, with its two in-service G650s sold out since late last year and two more entering the fleet by year-end. (Photo: Flexjet)

Fractional aircraft and lease sales at Flexjet climbed 17 percent year-over-year in the first half of 2018, the company announced yesterday. New business was even more robust, soaring by 76 percent from a year ago, it said, adding that 57 percent of new Flexjet owners came through referrals from existing owners.

“During the past several years, Flexjet has delivered the fractional industry’s youngest fleet, expanded service overseas, and introduced 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 Flexjet CEO Michael Silvestro.

Meanwhile, the fractional provider continues to expand its Red Label program, which offers young aircraft with “artisan aircraft interiors” and dedicated flight crews. In fact, Flexjet said that 42 percent of its fractional clients now fly under Red Label.

Flexjet’s large-cabin offerings are also increasing in popularity, with the company noting a more than 100 percent increase in Gulfstream G450 sales during the first half. In addition, shares in the two ultra-long-range Gulfstream G650s Flexjet received in October were sold by year-end, it said. To meet demand, Flexjet will take delivery of 19 more aircraft over the next three months, including two more G650s.