Thursday 7 July 2022

VistaJet posts 50pc growth in ME customer numbers

, January 17, 2018

VistaJet, a leading global aviation company, performed strongly in the Middle East in 2017 with the number of new program customers growing by 50 per cent year-on-year.

The company recorded a particularly robust performance in the UAE, and the growing markets of Saudi Arabia, Kuwait and Oman. The UAE accounted for the majority of flights in the region (at 28 per cent), and the number of flight hours (37 per cent).

Heading into 2018, VistaJet is seeing very positive trends in the Middle East, with both flight hours and flight numbers increasing significantly. In the fourth quarter of last year, the number of flights to the UAE grew by 44 per cent, and to Oman by 300 per cent.

It also made significant progress on its core strategic priorities, increasing market share across the globe, and recording double digit growth in flight hours in both the US and Asia.

Also, following investment from funds affiliated with Rhône Capital, the company’s equity is valued well in excess of $2.5 billion, cementing VistaJet’s position as one of the top five European unicorns by funding.

Other 2017 highlights include:

• VistaJet continued to grow its market share in the key markets of the US and Asia. While the market as a whole in the US grew by low single digits, VistaJet saw its flight hours increase by 38 per cent year-on-year, and the number of flights by 49 per cent. One of the main drivers of this growth was the sustained demand on the West Coast of the US, particularly from the Tech sector.

• Strong growth in Asia, with flight hours increasing by 16 per cent. The fastest growing countries in the region were China and India. With its growing economy and increasing number of global entrepreneurs, India is set to be one of the most exciting markets for the private aviation sector in the world over the next five years. In addition, the economy in China is proving more resilient than many expected, meaning that the private aviation sector is likely to flourish in the country throughout 2018.

• VistaJet cemented its position as one of the leading operators in Europe in 2017. Europe accounted for 41 per cent of the total hours flown by the company in the period, with the UK making up 26 per cent, France 19 per cent and Italy 11 per cent of regional flights.

• VistaJet continued to lead the market in 2017 in terms of innovation and technology. Over the last 12 months, the company launched VistaJet Direct, its new digital membership which offers priority access to VistaJet’s one-way and empty leg flights at preferential rates. The new offer is expected to be a key driver of the business’ growth over the coming years.
Thomas Flohr, VistaJet's founder and chairman, said: “Last year was undoubtedly a transformational year for VistaJet, and a turning point in its history. With the investment from Rhône Capital, we are now firmly established as one of Europe’s leading and most exciting unicorns, and one of the only companies in the business aviation market to be valued in excess of $1bn."

"We had our strongest ever year in 2017. Along with seizing market share from our rivals in all of our core markets, including the largest market in the world – the US, we reinforced our position as the brand of choice for the world’s leading business leaders and entrepreneurs. In the last twelve months, we have flown more Chief Executives and Chairmen to more destinations than we ever have before."

We head into 2018 in a fantastic position. While some of our smaller competitors are finding trading challenging, with our unicorn status and robust operational foundations we are ideally placed to lead the market and seize any new opportunities that arise. We are committed to becoming the No.1 player in every market in which we operate, and we are on course to make great strides towards that goal over the next 12 months," he said. - TradeArabia News Service

Tags: growth | customers | Vistajet | Middle | East |

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