The European Business Aviation Convention & Exhibition, or EBACE as it is more commonly referred to, is once again upon us. This major event, a pivotal gathering for our industry, represents a great opportunity to take stock of the progress Victor has made over the previous year – it is very much a case of onwards and upwards!
Leading into EBACE, of course, Victor is Europe’s fastest growing aviation business. This comes according to the FT1000, a new Financial Times poll of the region’s most dynamic, fast-moving businesses. Our 113th place reflects major revenue growth of 945% over a four-year period and complements further figures that we’ve released this week, pointing to the ongoing success of our 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 fliers are trusting the transparency and efficiency of our digital marketplace to travel farther and wider.
(Gulfstream G650 interior – Ebace 2017, Geneva)
Those same fliers also appear to welcome the flexibility of tech-led, on-demand charter. Last year, an incredible 82% of our route pairings were unique, indicating that members rarely duplicated their journeys – instead, flying to a wide variety of places at all corners of the globe and between. As we regularly tell new customers, our unique mix of technology and high-touch customer service allows you to fully tailor the travel that best suits your individual requirements.
A continuous cycle of in-house product development, particularly around web and app booking platforms, strategic (data) research and customer engagement, has also driven our growth by further improving the Victor experience, building greater loyalty to our marketplace and attracting new fliers. Last year, typically, 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 our customer teams the digital tools to respond to flight requests quicker, and better organise and prioritise those requests, charter booking has been made even more quick and seamless.
Since launching in 2011 Victor’s average booking value has actually increased by 79% (to 2016). We reached our sales revenue forecast of $39-41m for 2016, and have enjoyed a strong start to 2017 – including a record month for sales revenue (April) and our biggest ever individual UK and US bookings (May).
Now, we have opened a brand new US HQ in Manhattan to host a rapidly expanded team of 25 sourcing, flight management and customer service experts – this team, more than doubling in size, will provide Victor with a sturdy Stateside platform for further expansion across North America this year.
As always, there’s a lot on at Victor and a lot more to come – our love of and dedication to what we do never wavers. It has been another fantastic 12 months since we last landed in Geneva and we’re looking forward to more significant Victor growth and disruption before we land again in 2018.
Co-Founder & Head of Supply, Victor
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