News Release

Magellan launches lower pricing paired with enhanced product offerings

While industry providers raise prices, restrict customers and shrink service areas, Boston, Massachusetts-based private jet company Magellan Jets is leveraging its strong and stable business model to introduce a series of programme enhancements, positioning its customer-focused private aviation solutions for the most client value in 2023 and beyond. Magellan's asset-light business model, consistent profitability and continuous 35% year-over-year revenue growth uniquely position it to make these client-focused changes while offering aggressive rates 20-40 percent below its leading competitors.

"As a customer-first company, we're excited to provide more value across our entire portfolio and offer our guests the strongest private aviation solutions," said Magellan Jets CEO and founder Joshua Hebert. "The private aviation market has opened back up, and Magellan's client-centric programme and robust infrastructure enable us to make these pivots on behalf of our customers."

Included in its programme changes, now in effect, are:

- Lower hourly flight rates across all jet card programmes and memberships

- Lower initiation and renewal dues on its jet membership programmes

- Re-introduction of its popular entry level light jet card

- Wi-Fi now included on its popular Phenom 300 jet card

"These changes represent our commitment to helping customers navigate the evolving private aviation marketplace as trusted advocates," said Magellan Jets president and co-founder Anthony Tivnan. "Our operational stability, our efficiencies, investments in our supply chain and our expanded network of partners and vendors all combine to allow us to reduce expenses while simultaneously passing savings on to our customers. Factor in the recent drop in jet fuel prices and the value for Magellan's guests is extraordinary."

The ability to move swiftly and pivot to market demands has kept Magellan competitive and profitable for the past decade while enabling it to maintain its programmes when others have suspended operations. Magellan has seen high client satisfaction as a result; customer retention rates have been above 90 percent year over year, with an average 2023 Trip Perfection Rating of 93 percent.

As a strong, stable, and resilient private jet provider, Magellan Jets is perfectly positioned to increase its market share through new customer acquisition while continuing to add value for its existing customers.