XOJet soars with $470M more for private jet time shares
XOJet, the San Carlos, Calif. company that capitalized on the economic downturn by offering a time sharing service for corporate jet travel, has continued its good fortune with a new $470 million round of debt and equity led by TPG Capital. The money, broken down into $100 million in equity and $370 million in debt will be used to buy new or used aircrafts for global trips, the company says, as many as 20 to… Continue Reading
Silicon Valley’s airline: XOJET takes off as corporate jets lose favor
When the chief executives of the Big Three automakers went to Washington, D.C. with tin cups in hand asking for a $25 billion government bailout, they triggered public outrage when it was revealed they’d flown in on luxury private jets. With shareholder and taxpayer frustration growing, companies are starting to see corporate jets as a liability.
That’s where Silicon Valley’s XOJET airline comes in. The San Carlos, Calif.-based airline provides a kind of private jet time… Continue Reading