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. While 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 travelers 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) travelers 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 organize and prioritize 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 (April) and its biggest ever individual UK and US bookings (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 & 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.”
About Victor www.flyvictor.com
Victor is changing the private jet charter industry as the only fully-transparent, globally on-demand marketplace – Europe’s largest by revenue – that doesn’t require its members to pay upfront fees. Members are able to swiftly check pricing options, aircraft specifics and amenities before booking the flights they need. Victor’s unique combination of smart technology, transparency and exceptional customer service, provided by a dedicated 24-7 team, means that its members – with access to thousands of aircraft via a network of over 200 partner operators – are always connected and in control. Victor was recently ranked 113th in The FT 1000 list of Europe’s fastest-growing companies owing to total sales growth of 945% across a four-year period. The company has also ranked number 15 in the 2016 Sunday Times Heathrow Export Track 100, number 20 in the 2016 Sunday Times Hiscox Tech Track 100 (following a similarly high placement in 2015) and, last December, was ‘Internet’ category winner at the Deloitte UK Tech Fast 50 awards (for 18th position) as well as one of Deloitte’s EMEA Tech Fast 500 brands.