Victor is now entering its ninth year of operation and I could not be prouder of all that we have achieved so far. 2018 proved to be particularly pivotal in terms of our growth and progress. Charting for a fourth consecutive time in the UK Sunday Times Tech Track 100, delivering further expansion in North America and worldwide bookings of $74m (YE 2018), we are on track to hit profitability by the end of 2020. This performance is testament to the efforts of Victor’s extremely dedicated and professional team.
Viewing the market, Victor is now one of the largest on-demand private jet charter brokerages in Europe – with revenue growth that has, again, outpaced the industry. Several of our competitors include revenues generated by pre-paid card programmes. Victor, operates a completely on-demand model, giving customers total flexibility in terms of when and how they fly. We remain one of the few providers to operate a client deposit account with complete separation and protection of client monies destined for onward payment to operators.
Since Victor’s launch, we have remained true to our customer promise of transparency. Many within the industry have criticised our mission to demystify the process of obtaining a competitive and transparent charter quote but ingrained in our culture is a desire to continually seek improvement and deliver best-in-class service and innovation – this is true at every level of the company.
I am immensely proud of what we have started in terms of driving our industry towards a lower carbon future. The launch of a Carbon Offset programme with BP Target Neutral and Air BP last year was the start of our environmental, social and corporate responsibility mission to positively change behaviours within the general aviation space and make a real difference in the process. A substantial, ever growing percentage of our own fliers are taking carbon-offset flights.
I am acutely sensitive to the issue of reducing the carbon footprint of not just every Victor flight but hopefully those across the wider general aviation industry too. We cannot dictate what and where people choose to fly privately, but we can encourage and reward them for their commitment to change travel behaviours.
Last summer’s introduction of Alto – the world’s first global frequent-flier points programme for private jet charter – has prompted hugely positive feedback, with customers flying, earning for tomorrow and then flying again. This complements our customer offering around carbon-offsetting and, by working with some of the most influential names in hydro-carbon energy production, we look forward to further progressing our carbon-offsetting targets for Victor flights over the coming months.
We are privileged to work with some of the very best charter operators in Europe and North America and it is our intention to drive even more business to them in 2019. Together we can be an incredible force to drive behavioural change. Our ESG mission is to lead by example and encourage our industry to adopt a more sensitive, considerate attitude in terms of reducing our carbon footprint and impact on the environment.
I would like to thank the team here at Victor together with our partners for their continued support, and I wish everyone a successful 2019.
Founder and CEO, Victor/Alyssum Group