State of the Business 2017 by Chairman & CEO, Brad Stewart
2016 marked the fourth year that I have been XOJET’s CEO, and this past year has most definitely been the most rewarding of my tenure. Our team performed brilliantly and our client community flourished like never before. XOJET has now become the company that we all imagined it could be, a true industry leader. We are firmly established as the private aviation industry’s leading full-service enterprise broker, built upon a rich legacy of being an at-scale fleet owner/operator. We believe this strategic positioning is uniquely aligned with the future direction of the industry, our client’s private aviation needs and their service delivery expectations.
Over the past year, we achieved tremendous financial and commercial success. We delivered the best return on aircraft assets in the company’s history, exceeding 25%. We grew our off-fleet brokerage business by over 20%. And, we sold nearly 1,000 membership programs. Each of these performance milestones is a record for our business. These performance metrics all underscore that we are successfully fulfilling our mission: to be the trusted advisor and service provider of choice to sophisticated private aviation consumers.
Our focus is squarely on building the leading, smart alternative to jet cards and fractional ownership. This is our market positioning. As such, we continue to refine and build our commercial capabilities and our operating infrastructure. Over the last year, we significantly improved our partnership ecosystem, signing deals with JetSmarter, Vail Resorts, The Pebble Beach Company, Mandarin Oriental Hotel Group and Etihad Airways, among others. In addition to this, we invested millions of dollars in fleet refurbishment to better align our fleet appearance with our brand promise. We also engaged an enterprise analytics firm, Noodle.ai, to improve our demand forecasting, so that we can make better inventory and pricing decisions. And finally, we made substantial investments in our people, to improve our service and operating capabilities.
As we look ahead to 2017, you will see a continued focus on business-building, with a specific focus on product and service innovation. As part of a broader digital roadmap, we will soon launch our first-generation client-facing app and a newly redesigned website, which will provide clients with easy-to-use digital booking tools that will complement the great service delivered by our sales and service teams. We are also engaging strategic discussions that will facilitate a thoughtful and measured fleet replenishment/expansion plan, with a careful eye to investing discipline, in order to continue delivering tremendous value to clients. And lastly, we are actively exploring a club-like subscription product that will enable us to provide even greater levels of service and more exclusive benefits to our clients.
We remain intensely focused on providing each of you, our clients, with trusted advice and personalized service. This is our true north. This is our passion.
On behalf of our entire team, I want to thank you for your continued support.
Chairman & CEO