BAN's World GazetteerMassachusetts
Boston, Massachusetts-based private aviation provider Magellan Jets says it is expanding its portfolio of private aviation solutions to new frontiers. The company is continuing to invest in its teams and adapt its business to customers' need by adapting programmes, launching a new aircraft sales and management division, moving to a new corporate headquarters and opening the company's first private jet terminal, as Business Air News reported in January. As a result, the company grew gross revenue to a total of $120 million last year and it is projecting $140 million for 2023.
The team's accomplishment caps off a decade in which Magellan has consistently grown gross revenue by 34 per cent year over year. It concludes a year in which Magellan's jet card programme saw a 30 per cent increase in sales and an 89 per cent renewal rate. Magellan increased total flight hours by 19.9 per cent in 2022 compared to 2021, beating the private jet industry average growth of 7.7 per cent flight hours over the same time period.
Magellan's leadership credits these successes in large part to a continued practice of putting its revenue back into its people, who ensure Magellan's clients receive proper service.
“Behind every exceptional customer experience is a crew of dedicated and passionate employees,” says CEO Joshua Hebert. “We spent a significant portion of our time and profit in 2022 investing in our team members. When we have the right people in the right seats and are consistently making sure they have what they need to be engaged and passionate about their work, they're more likely to deliver exceptional service and create memorable experiences for our guests.”
In addition to offering jet card ownership, private jet membership and on-demand charter services, Magellan established a brand-new aircraft sales and management division for those customers whose needs have progressed beyond the company's programme offerings to full aircraft ownership.
“Aircraft sales and management is the newest product line in the Magellan Jets aviation portfolio, closing the loop and completing the circle of life for the private flyer, all on one platform,” notes company president Anthony Tivnan. “We're there as a trusted partner for the purchase of the aircraft, and afterward we develop a personalised management plan on the client's behalf that treats ownership expenses as pass-through costs. For our customers who are interested in offsetting the cost of aircraft ownership, we put their aircraft into our own network for use in the jet card and membership programmes.”