Phillippines business aviation startup, PhilJets, has recently added two helicopters to its growing fleet, an Airbus Helicopters H145 and a Bell 407GX. They bring PhilJet’s fleet to eleven aircraft in total, with a combined value of US$77m.
PhilJets, founded by local entrepreneur Thierry Tea five years ago, has surpassed its target sales revenues of US$3.2 million by reaching close to US$3.9 million of sales.
The fast growing business aviation startup has been striving to end 2017 at the same rate it started the year. Indeed, PhilJets started last year with its entry into the business jet segment adding 1 Cessna Citation XLS+ to its fleet and ended 2017 with the addition of 1 more additional Cessna Citation Business Jet.
This confirms the company’s plan to play a role in the region’s business aviation’s scene. Indeed, PhilJets has also been working on upgrading its license capability from Civil Aviation Authority to evolve from non-scheduled domestic to non-scheduled international, a necessity when entering the Jet market.
With its fifth year anniversary to be soon celebrated this year, the business aviation operator aims to continue adding more aircraft to its expanding fleet to cater to its growing customers base, both local and international. PhilJets has surpassed its target sales revenues of PhP 160M by reaching close to PhP 200M of sales, though costs were also significantly higher.
From six aircraft in 2016 to 11 aircraft under its management by end 2017, the assets value under the portfolio of PhilJets increased to more than PhP 3.8 billion (USD 77M), which is equivalent to close to a four times increase from previous year. The latest addition to the fleet are two helicopters (1 Bell 407 GX and 1 Airbus H145) and 3 fixed wing aircrafts (1 Bombardier Challenger 350, 2 Cessna Citation XLS+).
PhilJets is looking forward to adding four to five aircraft into the fleet that will exceed PhP 4.5 billion (USD 90m) in asset value under management within 2018.
“We need both lighter single engine and lighter twin-engine helicopter in our fleet, as well as a good twin-engine turboprop fixed wing. These are our main objectives for this year,” explains Choy Elciario, in charge of the Charter activities of PhilJets.
“Customers also frequently require some aircraft types or brands that we do not yet have and we are working on addressing these requests,” adds Geoffroy Cahen, Head of Sales & Marketing.
With five new pilots, with an average of 25 years of experience, joining the company in 2017, the aviation startup reached more than 60 high skilled employees.
PhilJets Group concluded the year with a recognition from Asia Pacific organization Enterprise Asia. Founder, Chairman and CEO Thierry Tea has received an award for Entrepreneurship outstanding performance in the Transportation and Logistics Industry.
In 2018, PhilJets is preparing to launch few projects and will venture into new partnerships. The company is also looking into expanding in the Education, Logistics and Tourism sectors, with the aim to opening bases in the provinces.
“It is very challenging to manage growth for a startup in aviation, we are looking at innovating opportunities and the best way to develop them while always keeping safety and customer service as our core priorities,” said chairman Thierry Tea.
“Our team is really exceptional despite the many obstacles and everyday issues. We are happy to demonstrate that we positively embrace the steady growth of the Philippines economy and contribute to play our humble part in the development of the Business Aviation and Tourism sector.”