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For the second year running, Inc. 5000 has named ONEflight International as one of 2021's Fastest Growing Companies in the United States. It rose to 3,205th on the list of top companies.
ONEflight earned a spot on last year's list with a combined three year revenue growth of 97%. Despite the pandemic it says it has experienced positive growth without government subsidies or loans, doubling revenues and reporting a 115% increase in its customer base. Only two other companies in the charter sector made this year's list.
Nationwide lockdowns and travel restrictions forced aviation companies to lay off employees or trim spending costs over the last 18 months. ONEflight says it did the opposite, adding staff in sales, marketing, technical support and operations while also forging strategic partnerships across multiple luxury sectors, including travel, villa rentals, motorsports, renowned wineries, yacht charters and PGA sponsorships.
“2020 was a demanding year filled with peaks, valleys and new challenges. However, through all the turbulence, my team and I prevailed. We set new company records not only in member acquisition, but in the overall number of flights booked month over month,” says Ferren Rajput, founder and CEO of ONEflight International.
Prior to the pandemic, ONEflight says most of its bookings were for corporate or business travel. However as lockdowns loomed in early 2020, flyers rushed to get back to the U.S. and turned to private aviation for faster service. As society shifted to remote work and learning, the industry helped families fly to secluded destinations as COVID-19 transmission rates climbed.
It says new customers drove most of the business growth for ONEflight in the past year. Now, leisure travel eclipses corporate and business travel for ONEflight, accounting for 85% of booked flights.
Demand for private travel has come with some issues as pilots, crews and operational personnel face labour shortages coinciding with a global aircraft shortage, potential rises in fuel costs as well as resource scarcity.
ONEflight compensated for the growth by onboarding new flight operations staff, flight trackers, flight coordinators and personal concierge to ensure that customer satisfaction remains high. It says that over 90% of those who switched to it during the pandemic continue to do so despite the emergence of COVID-19 vaccines.