As Magellan Jets celebrates a decade of growth, AINonline puts the spotlight on the private jet charter broker and its average year-over-year growth rate of 30%. The publication writes that Magellan Jets expects “to be approaching $60 million in revenue in 2020.”
Decade of Growth
In a recent announcement, Magellan Jets executives opened up about celebrating a decade of 30% year-over-year growth, all while helping clients recession-proof their private aviation portfolios. Read an excerpt from the release below.
“Kicking off the decade, Magellan Jets revolutionized private jet travel through the introduction of jet-specific 25-hour jet cards. By the end of the decade, we faced over 125 competing products and yet produced sustained year-over-year growth by putting the needs of our members and clients first. Private jet owners, fractional share owners and corporate travel departments find our unique operational capabilities to be indispensable and trust us to deliver the best in safety and personalized service.
In 2019 alone, Magellan’s membership enrollment doubled, while on-demand charter grew by 33%. On track to reach $61M of revenue in 2020, the company will significantly increase investment in people and infrastructure this year. as well as continuing to focus on supporting technology-enabled professionals that work to represent Magellan Jets’ members and clients in the private aviation marketplace.”
In the AINonline piece, Magellan Jets CEO and Founder Joshua Hebert talks about what led to this impressive growth.
“2018 was the most challenging year in our 11-plus years in the business, and but we are a better organization because of it,” said Hebert. “We needed to use 2018 and early 2019 to position the company for growth and sustainability, and that resulted in 2019 being our best year of the 2010s in terms of revenue, net profit, membership services renewal rates, and client retention.”
He went on to call a “golden decade of opportunity for personalized service in private aviation.” Click the link below to read the full article.