VistaJet Global 6000.
New program members up 32%. Flight revenue up 27%; Flight hours increase 27%.
LONDON – VistaJet continued to gain substantial market share around the world during the first half of 2018. Driven by the sustained demand for the company’s flagship Program subscription model, new Members rose by 32% year-on-year, with Europe doubling the number of new contracts against the same period last year. Renewal hours recorded a growth of 33%, propelled by the Company’s focus on service excellence.
Adding to its renowned global coverage and unique flight-hour subscription model, in 2018 VistaJet has further invested on service innovation for its passengers. The new Program offering, designed around VistaJet customers’ passions, encompassed key partnerships with world leading art and sport partners such as Christie’s and British Polo Day, as well as the launch of the most extensive traveler’s program for children in private aviation.
Unparalleled service, a global fleet of 72 identically branded aircraft and a diverse and broad customer base has allowed VistaJet to capture increasing demand from each region of the world. In the first half of 2018 the Company saw growth in flight revenue, flight hours and number of flights by 27%. North America spearheaded this expansion, accounting for 25% of total global hours flown.
Global passenger numbers also increased and in the 1H 2018 VistaJet flew over 30,000 clients around the world, a 23% growth against the same period last year. Average flight times rose, as demand for longer, intercontinental routes intensified – a trend expected to increase further over the second half of the year.
Today’s results yet again demonstrate the global shift in flying preferences for individuals and corporations, who are moving away from aircraft ownership as they look to reduce flight costs and asset risks, without compromising on the convenience, benefits and comfort of business aviation. With an equity valuation in excess of $2.5 billion, establishing the Company as Malta’s first unicorn and fifth in Europe, VistaJet is well positioned to take even more market share by offering global coverage, consistent unparalleled quality and maximum efficiency.
Thomas Flohr, VistaJet's Founder and Chairman, said: “2017 was our strongest ever year and we started 2018 with an impressive acceleration. We continue to see sustainable growth across our business and retain the ability to adapt our offer to meet demand in every region around the globe. Our unique fleet and technology platform ideally places us to lead the market and seize new opportunities. We are committed to becoming the number one player in every market in which we operate, and we are on course to progress quickly towards our goal over the remainder of the year.”
Angelos is the news editor for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). His role includes to monitor the hundrends of news sources of TravelDailyNews Media Network and skim the most important according to our strategy.
He currently studies Communication, Media & Culture in Panteion University of Political & Social Studies of Athens.
