Global Investment Firms TPG And Aabar Help Finance New Aircraft Purchase

XOJET announced it has secured financing totaling $470 Million Wednesday at the NBAA Annual Conference Wednesday. The package includes $100 million in equity, and a more flexible debt facility of $370 million, allowing for the purchase of either new or used aircraft on a global basis. Financing is being led by TPG, a Fort Worth based private equity firm, and Aabar, an Abu Dhabi based investment firm. XOJET will use the additional capital to expand its operations to meet the growing demand for quality business aviation services and alternatives to fractional ownership.

"This latest round of financing is evidence of the growing confidence in XOJET's operating model," said David Siegel, CEO of XOJET. "We uniquely offer what customers now demand and other operators simply cannot provide - a low risk, high quality, cost efficient alternative to fractional ownership without ever compromising on service quality or safety."

XOJET claims its recently announced Membership with "Best Price" offers clients all the benefits of being in a guaranteed availability program with no upfront share purchase while, at the same time, providing pricing advantages that can come with market-rate charter. "XOJET has a unique market advantage. Since we own and operate our own fleet of aircraft we can give you an apples to apples charter quote - on demand," said Siegel.

XOJET has earned the distinguished "Platinum" rating from Aviation Research Group/US (ARG/US) for the company's rigorous operational standards. The rating is widely recognized as an acknowledgement of excellence in operational practices and flight safety standards, and is the highest-level safety audit rating in private aviation.

FMI: www.xojet.com