XO announced its record-setting growth results from Q1 of 2021, including triple digit growth in deposit memberships and shared flight revenue year-over-year, as the company continues to dominate the private jet-sharing economy.
Q1 2021 highlights include:
- XO experienced a 298% year-over-year increase in purchases of its deposit memberships in Q1 2021, including a 170% year-over-year increase from March 2020 to March 2021.
- The platform continues to accelerate growth in the shared flight economy with an increase of 225% shared flight revenue year-over-year in March, and a 120% uptick year-over-year in Q1, making a 39% increase in total shared flight revenue compared to Q4 of 2020.
- South Florida remains the top destination for bookings from Q4 2020 through Q1 2021, followed by New York, Los Angeles, San Francisco, and Boston.
- Family travel between New York and South Florida is up 25% from Q1 2020 to Q1 2021, with a 99% year-over-year increase in shared flights and a 50% increase in charter flights year-over-year.
- Internationally, XO experienced a 167% year-over-year increase in the purchase of its deposit memberships in Q1 2021, including a 75% year-over-year increase from March 2020 to March 2021.
- A steep rise in fights within Saudi Arabia, as well as increased regional travel within Europe and Africa, underpins XO's ability to connect cities that are being underserved by commercial flights.
“Since its inception, XO has continued to lead the evolution of private travel, and has transformed the historic, segmented private aviation industry into a powerful tech-enabled tool,” said Rajat Khurana, Chief Commercial Officer of XO. “Our success is directly related to XO’s enhanced digital marketplace, its unrivaled on demand flight accessibility, and innovative crowd-sourcing technology that offers clients the ability to browse and book flights within seconds. We’re confident that XO will continue to dominate the private jet-sharing economy, as business aviation experiences a new renaissance of growth over the next decade.”
In response to market demand, XO has elevated its digital offerings with an all new mobile app, which allows travelers to “launch their own airline” on demand. In Q1 2021, XO reported a 47% increase in instant in-app bookings and flight searches in-app increased by 22%. The intersection of technology and AI through XO allows consumers to schedule their own flights on demand and provide them with guaranteed availability on full private charters or a single shared seat on an existing flight.
For more information on XO, please visit www.flyxo.com.
