Home » Abu Dhabi Investors »

|| Abu Dhabi invested in California-based private jet firm

xojet-aabar.jpgXOJET, a private aviation company based in California, announced financing totaling $470 million led by TPG, a private equity firm, and Aabar, an Abu Dhabi based investment firm.

This consists of $100 million in equity and a more flexible debt facility of $370 million that allows for the purchase of either new or used aircraft on a global basis. So far they have raised $3 billion to fund their operational infrastructure, fleet, and global expansion.

(To see more Abu Dhabi investors like Aabar check our investors directory)

Their full press release follows

ORLANDO, Fla., Oct. 21 /PRNewswire/ -- Today, at the National Business Aviation Association's Annual Conference, business aviation leader XOJET announced financing totaling US$470 Million. This consists of US$100 million in equity and a more flexible debt facility of $370 Million that allows 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 low risk, high quality, cost efficient 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's recently announced Membership with "Best Price" uniquely 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. "There's no need to comparison shop, no need to deal with multiple brokers or operators and no need to risk quality, consistency or reliability. We've taken all of the guesswork out of the process."

XOJET is the only private aviation company that can credibly offer this type of service and provide customers with total assurance that they are receiving the best pricing possible on our fleet. XOJET serves corporate flight departments, private businesses and high net worth individuals.

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 the ultimate acknowledgement of excellence in operational practices and flight safety standards, and is the highest-level safety audit rating in private aviation.

Founded in 2006, XOJET has quickly become one of the world's fastest growing private aviation companies, built on a unique business model that combines private jet ownership, membership and charter travel and a singular focus on providing the highest level of customer service at every point of the client's experience. XOJET is backed by TPG, a leading global private investment firm with over $45 billion of capital under management.

XOJET's award-winning, in-house safety and maintenance program rivals the world's best commercial airlines, and has earned the highest ranking in four key categories - more than any other operator - from Aviation Research Group. XOJET has also been named a Robb Report "Best of Private Aviation" winner and one of Inc. Magazine's fastest growing companies.

Previous Post: Alnoor Holdings Qatar launched $200 million film fund
Next Post: Middle East investors investing $4.6 billion in Scotland

More from Abu Dhabi Investors ...

  Abu Dhabi firm Waha Capital invested $76 million in New York listed firm AerCap Holdings (May 2016)

  Middle East investors of Rasmala and GII acquired Airbus office complex in UK for $42 million (March 2016)

  Abu Dhabi firm ADFG invested in Montenegro Capital Plaza (November 2015)

  Abu Dhabi investment firm acquired stake at three Hong Kong hotels for $2.4 billion (May 2015)

  UAE firm NMC acquired Spanish fertility clinic for $161 million (March 2015)

  UAE investment firm acquired Scotland Yard HQ for $579 million (December 2014)

  Abu Dhabi fund buys 31 Accor hotels in Australia for $740 million (September 2013)

  Abu Dhabi investment firm ADIC buys stake in Tokyo property (August 2013)

  Abu Dhabi and Qatar funds front-runners to acquire 42 Marriott hotels for $1 billion (July 2012)

  US Paladin Capital and Abu Dhabi Invest AD to launch $100 million fund (May 2012)

|| About Us

Established in 2007, DubaiBeat.com provides insight, analysis and research on Middle East investors.

We cover different asset class investors like private equity, venture capital, hedge funds and real estate investors from the Middle East and broader MENA region.

|| Subscribe

Copyright 2007-2017 DubaiBeat.com    Sitemap  |  Terms  |  Privacy Policy

Follow us: RSS Feed   Facebook    Twitter