February 09, 2010

Signs of recovery?

I’ve been reading about some encouraging signs of recovery in the industry in the last few days. Vistajet who are the second-largest private aviation company globally have announced a 20% growth in revenues in 2009 and they are investing in Asia in 2010, which they predict will lead the recovery of the global aviation sector. The company has ambitious growth plans for 2010 — it is aiming to double company size within the next two years.

Then there was interesting news from the venture capital investment markets: A private jet charter operator XOJET received the 5th largest venture capital investment in the states in 2009 ($100 million). This was the only travel company in the top 10 and was only just behind Twitter which received literally $200 more. XOJET says it is using the funding infusion “to expand its operations to meet the growing demand for quality business aviation services and low-risk, top-quality, cost-efficient alternatives to fractional ownership.”

This is all great – really positive signs. PrivateFly has exciting expansion plans in 2010 – we are in good company!

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