Aircraft - Wednesday, September 26, 2007
XOJet Raises $363M
There can be no doubt that the private jet boom is officially on with several financing deals being announced every week. The latest is San Carlos-based XOJET, which has raised $143M in equity and debt from TPG and Lehman Brothers GPS plus an additional $220M in aircraft lease financing from Lehman Brothers GPS.
Founded in 2001, XOJet claims $36M in revenues last year and has a head count of 140. The company charters private jets. Clients can lease a set number of flying hours per year or pay extra to guarantee they'll have a jet whenever they want.
XOJet actually has a bit of a software background. The company was founded and is led by Ariba Inc. (ARBA) founder Paul Touw.
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