XOJet financials, 401k, and bases

[larrivee]

Who is funding XOJet?

What is the 401k match?

How are you awarded bases and how do you switch?

Thanks!

 

[t-bone]

Who is funding XOJet?

What is the 401k match?

How are you awarded bases and how do you switch?

Thanks!

TPG and Lehman Brothers.

Currently no match, but we have stock options. Match will probably come once we go public. Right now, it's not prudent.

Bases...you tell us which base you want and it's yours. If you want to switch, just tell crew resources what your new base is. There is no bidding involved. Want to change bases every month, knock yourself out.

 

[Cpt Splash]

T-bone,
Has the latest economic situation affected future commitments as far as aircraft delivery or expansion. I know Lehman brothers has been on the news when the whole Bear Sterns thing went down. Just wondering if XO has been affected.

 

[t-bone]

T-bone,
Has the latest economic situation affected future commitments as far as aircraft delivery or expansion. I know Lehman brothers has been on the news when the whole Bear Sterns thing went down. Just wondering if XO has been affected.

Not that I've heard...knock on wood! Cessna has actually moved up some of our deliveries and there is/was a chance that we'd get our hands on a June 300 delivery ahead of our originally scheduled September delivery.

Our March hours flown and deadhead hours were right where our business model projected, and the deadhead hours were the lowest in 5 months (meaning we're getting more efficient at recovering when we have mechanicals).