Press Release

Issued by Victor.

May 15, 2017

Leading international jet charter marketplace Victor is Europe's fastest growing aviation business according to the FT1000, a new Financial Times poll of the continent's most dynamic, fast-moving businesses. The company's 113th place reflects major revenue growth of 945% over a four-year period and complements further figures released pointing to the ongoing success of its disruptive 'on demand' model within the private jet charter sector.

According to Victor data, long-range aircraft bookings (of jets such as the Gulfstream IV, Bombardier Global 6000 and Legacy 600) continue to grow, up 98% year-on-year. The total number of private jet types chartered has also increased, 25% year-on-year. Whilst the Citation Mustang is Victor's most popular overall charter request for the past 12 months, the Gulfstream IV tops a list for US bookings. Discerning travellers are trusting the transparency and efficiency of Victor's digital marketplace to travel ever longer distances and target more varied destinations for leisure and business.

Ultra-high-net-worth (UHNW) travellers are embracing the flexibility of hi-tech, on-demand charter. Victor has revealed that a staggering 82% of its route pairings last year were unique, which indicates that flyers are rarely duplicating their journeys; instead, they're targeting a variety of destinations, many to less traditional locales, including Tanzania, Nigeria and Costa Rica. Victor's unique mix of technology and high-touch customer service continues to allow flyers to fully tailor the travel that best suits their individual needs.

A continuous cycle of in-house product development, particularly around web and app booking platforms, strategic data research and customer engagement, has also driven company growth by further improving the experience of Victor's 'free to use, free to choose' marketplace and deepening customer loyalty; as well as attracting new members. Last year, Victor shortened 'time to book' by 38% (year-on-year) and saw a 45% uplift (year-on-year) in new members booking within their first week. By giving customer teams the digital tools to respond to charter requests quicker, and better organise and prioritise those requests, charter booking has been made even quicker, easier and more accessible.

Since launching in 2011 Victor's average booking value has increased by 79% (to 2016). The company, which reached its sales revenue forecast of $39-41m for 2016, has enjoyed a strong start to 2017, including a record month for sales revenue in April and its biggest ever individual UK and US bookings in May. In turn, Victor has just opened a brand new US HQ in Manhattan to accommodate a rapidly expanded team of 25 sourcing, flight management and customer service experts. The team, more than doubling in size, will provide Victor with a sturdy platform for further expansion across North America in 2017.

Clive Jackson, CEO and founder of Victor, comments: “A commitment to transparency, tech and world class customer support continues to drive Victor's major growth and disruption of the private jet industry. Fliers are switching from jet ownership to on-demand, pay-as-you-go charter in the current economic climate because it allows them to fly more flexibly and efficiently; and Victor's own charter offering is as clear as it is compelling. Fresh from hitting our 2016 targets, we've enjoyed a great start to 2017 and look forward to evolving and enhancing the Victor marketplace again over the coming months.”