13/03/2017 14:00:20

VistaJet completes 100,000th flight as whole and fractional aircraft purchases decline

 

Company records 40% of new business from former aircraft owners as customers shift toward sharing economy models

  • Company took on 15 new business jets in 2016, equaling 26% fleet growth
  • Has now connected 250,000 passengers to over 1,600 airports in 187 countries
  • New customers included principals as young as 25, and major technology companies purchasing 400+ flight hours
  • 40% of its new business in 2016 came from customers moving away from fractional or full aircraft ownership

LONDON, March 13, 2017 (GLOBE NEWSWIRE) -- VistaJet, the first and only global aviation company, today announced that it has safely performed over 100,000 flights in its history, recording significant growth as corporations and UHNWIs continue using business jets to travel the world.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/afab1e13-6b9f-4ec0-b0f8-e6b5e6434476

https://www.globenewswire.com/NewsRoom/AttachmentNg/a3b654d1-e790-4450-8576-695e75cd1824

In the first nine months of 2016, 7.7% fewer new aircraft were delivered year-on-year, and the total number of deliveries remained at the same level as it was in 20121. At the same time, VistaJet took on 15 brand new business jets in 2016 to meet increasing demand, equaling 26% fleet growth. The company has now connected 250,000 passengers to over 1,600 airports in 187 countries.

The company forecasts this growth to continue as a rising number of millennials enter the business aviation market and look to participate in the shared economy trend rather than own a depreciating asset. Among its new customers were principals as young as 25, and major technology companies purchasing 400+ flight hours for their executives to fly worldwide. The firm reports that 40% of its new business in 2016 came from customers moving away from fractional or full aircraft ownership in favour of anytime access to its global fleet.

VistaJet Program customers accounted for the majority of the company's business in 2016. The VistaJet Program is a bespoke solution aimed at individuals and corporations flying between 50 and 1,000+ hours per year, offering guaranteed access anytime and anywhere to a global fleet of silver and red branded aircraft.

As part of its 71 business jets, VistaJet now also counts the largest privately owned Global 6000 and Challenger 350 fleet in the industry. In 2016 the company moved its global headquarters to growing European business hub, Malta, whilst expanding its offices in key cities such as Los Angeles, New York City, Hong Kong, Seoul and Lisbon.

Chairman and Founder Thomas Flohr said:

"What we're seeing is that due to broader uncertainty and changing attitudes to ownership, while entrepreneurs and corporations want the flexibility and convenience of using a business aircraft, they don't want the asset risk or the up-front costs. Celebrating our 100,000th flight is a real indication that customers have found the answers they are looking for in our business model. We have invested in our fleet, our people, and our global infrastructure, to offer an unmatched service.

We pride ourselves on providing the support and resources companies need to do business. Whether that is organising complex trips to multiple, remote destinations or arranging for meetings to take place in-flight, regardless of where in the world they are, we are there for our customers when they need us."

1 https://www.avbuyer.com/articles/business-aviation-market-insight/what-are-the-latest-business-jet-market-trends/

About VistaJet 

VistaJet is the first and only global aviation company. On its fleet of silver and red business jets, VistaJet flies corporations, governments and private clients to 187 countries worldwide. Founded in 2004 by Thomas Flohr, the company pioneered an innovative business model where customers pay only for the hours they fly, free of the responsibilities and asset risks linked to aircraft ownership. VistaJet's signature Program service offers customers a bespoke subscription of flight hours on its fleet of mid and long range jets, to fly them anywhere and at any time.

More VistaJet information and news at vistajet.com.

Information

Matteo Atti

VistaJet International

T: +44 (0) 203 667 5366

M: +44 (0) 7827 856692

Matteo.Atti@vistajet.com

James Leviton

Finsbury

+44 207 251 3851

VistaJet@finsbury.com

 

 


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: VistaJet Ltd via Globenewswire

Del

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
17 Sep
CHEMM
Mullen jeg tror du hænger meget fast i hvordan markedet så ud for ½ år tilbage. Vi har i mellemtiden..
38
18 Sep
DANSKE
Her er lidt om de Berlingske løgnhistorier o Danske Bank - for det tilfælde I har lyst til at anlægg..
29
17 Sep
 
Kære EI,   Jeg har stor forståelse for at i skal tjene penge, for at kunne ove ville udbyde de ydels..
23
22 Sep
OMXC25
Har scannet C25 aktierne igennem og fundet nogle ting som jeg vil være på udkig efter den kommende t..
20
18 Sep
DANSKE
Hvor er dog dejligt at der er en journalist der går lidt dybere og ser hvad journalistik kan bruges ..
16
00:58
VELO
Velkommen til ugens faste tråd om Veloxis & Envarsus 😊   Intet nyt. Vi venter nok alle på afslutni..
14
19 Sep
DANSKE
ref 417838   Det er jo bare endnu en ubegavet journalist fra Berlingeren, der ikke ved en dyt om, Ja..
13
20 Sep
VWS
Mon ikke lige vi skal spise brød til, inden vi konkluderer af GE løber med sejren. De har end ikke d..
12
21 Sep
 
Håber dette er okay for admin Nordnet og deres fusk - meld dig ind og fortæl din historie Det..
11
18 Sep
DANSKE
INVESTOR1 : Jeg tror blot vi aktionærer i Danske Bank, er lidt mere vel afbalanceret som helhed. Vi ..
11

#

EuroInvestor: In Focus
#

#

EuroInvestor: In Focus
#

#

EuroInvestor: In Focus
#

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Oncology Venture presents positive data at ESMO on DRP as   a response predictor for 5-FU treatment in colorectal cancer
2
BeiGene Announces Clinical Results on Tislelizumab Presented at the 22nd Annual Meeting of the Chinese Society of Clinical Oncology (CSCO)
3
Finisar Presents Industry-First Optical Communication Solutions Driving Next-Generation Data Centers and Carrier Networks at ECOC 2019
4
Youth INC and RBC Gather Thousands to Raise $1.7 Million for New York City Youth
5
5-DAY DEADLINE ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against 3M Company and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

Latest news


Copyright Berlingske Media 2019  Cookie- and Privacy policy  |  Cookies  |   General terms of trade  |   Terms of use and IP rights
Quote information is delivered by Morningstar.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
23 September 2019 12:57:43
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20190829.2 - EUROWEB1 - 2019-09-23 13:57:43 - 2019-09-23 12:57:43 - 1000 - Website: OKAY