OneJet, six months into their operation, confirmed plans on Wednesday to finalize the selection of its next fleet platform during the fourth quarter. SkyWorks Capital has been retained to assist in the structuring and closing of the transaction which is expected to be finalized in four to six weeks.
CEO of OneJet, Matthew Maguire, speaking from the North American Airport Conference in Long Beach, stated: “The OneJet program represents the opportunity to provide easily accessible and relatively low cost nonstop travel solutions, for businesses and consumers in U.S. regional air markets. Today’s announcement reflects a continued and increasing level of investment in our product and network, to benefit our current corporate customers, as well as those customers and communities, which will join our network throughout 2016 and beyond.”
OneJet operates the Hawker 400 light jet aircraft and has confirmed that its latest selection will also be within the light jet category which is capable of transporting 7-8 passengers up to 1000 miles. The company plans to add approximately one aircraft per month, beginning in January 2016 and up to 50 aircraft within the next three years.
Former U.S. Deputy Secretary of Transportation, John Porcari, a senior advisor to the program commented: “OneJet is engaging the substantial challenges, and therein opportunities, created by the unprecedented structural changes currently taking place within the U.S. air transportation system. The forthcoming fleet commitment represents a meaningful and long term investment in communities and markets which have seen dramatic reductions in service over the past several years. This step reflects our commitment to provide a high quality and consistent nonstop product to these customers.”
OneJet operates into five airports, including Indianapolis, Milwaukee, Pittsburgh, Memphis, and Nashville. Their service includes TSA Pre access for eligible customers, expedited boarding, and complimentary on board amenities.
Since the April 6th launch, the Company has engaged preferred agreements with ten Fortune 500 companies, including FedEX, and has seen yields grow 10-15% month over month as corporate traction and usage has increased.
Dr. Peter Belobaba, principal research scientist at MIT’s Global Airline Program and OneJet advisor, stated: “The combination of mass scale distribution and on demand optimization science represents the opportunity to develop highly efficient, scalable networks to meet air service needs in the multi-billion dollar regional travel market. With established service and distribution systems now in place, today’s announcement reflects the first step of structured capacity growth to expand the reach and operational volume of the OneJet network. We’re tremendously pleased to take this step.”
OneJet specializes in scheduled point-to-point flights in small to mid-size markets at a relatively low cost. They operate from normal passenger terminals and gates of the airports to which it flies, rather than private terminals or Fixed Base Operator facility.