VistaJet

Last updated

VistaJet Holding SA
VistaJet logo.svg
IATA ICAO Callsign
VJTVISTA JET
Founded2004
Commenced operations2005
AOC # Malta MT-17 [1]
Operating bases
Focus cities Global
Frequent-flyer program Program
Subsidiaries Air Hamburg
Fleet size360 jets
Parent company Vista Global Holding
Headquarters Luqa, Malta
Key people
Website https://www.VistaJet.com

VistaJet is a global business aviation company founded in 2004 by Thomas Flohr. The firm flies between any two points, under a "pay for hours flown" fare structure. [2]

Contents

In January 2023, its fleet consisted of over 360 [3] privately owned, mid- to large-cabin, ultra-long-range Bombardier Global and Challenger business jets. [4] In 2018, it flew to 187 countries, 1,900 airports and carried more than 367,000 passengers. [5] Its headquarters are in Malta, with further offices in London, New York, Los Angeles, Hong Kong and Dubai. [6]

VistaJet has a European Aircraft Operating Certificate (AOC) in Malta. It partners with local operators in countries where airlines are obliged to fly domestically and cannot be the majority owner of an AOC, e.g., the US, where VistaJet-owned and U.S.-registered aircraft are operated by licensed U.S. direct air carriers. [7]

History

VistaJet was originally named Air Executive when Flohr founded the business in 2004. Back then, its headquarters were in Switzerland, with operations in Austria. [8]

2003–2005

In 2003, Flohr bought an aircraft for his own use. He was able to buy this and subsequent aircraft at discounted rates, as sales for private jets had severely weakened post-9/11, a development which Flohr has since attributed as key to the subsequent growth of the business, along with expansion in Eastern European markets and a favorable dollar/euro exchange rate. [9] [10]

In 2004, Flohr placed his plane with a small local operator. It was chartered out within two months, making it self-financing. This prompted him to buy a second, bigger plane, which was flying 100 hours per month within three months of purchase.[ citation needed ]

Flohr's interest in private aviation led him to commission a financial analysis of the industry. This study suggested a single global brand was absent and also indicated that many private jets for hire were owner-operated, available for hire only when not in use by the owner. To offer "not-subject-to-owner-availability" flights, Flohr departed from the aviation industry norm of home bases, where privately owned charter planes must return to a fixed location to be at their owner's disposal. By dispensing with home bases, a jet could pick up a client from whichever airport was closest to the client's location. [10]

Flohr formally launched a three-plane fleet in 2005, with flights across the European Union and CIS region.[ citation needed ]

2006–2009

In 2008, the firm acquired Bombardier Skyjet International, effectively assuming control of the aircraft manufacturer's executive aircraft charter program, at the same time placing a US$1.2 billion order for 35 Bombardier business jets. It was reported to be Bombardier Business Aircraft's largest-ever single order. [11] The deal included taking over Skyjet's bases at Farnborough, Dubai International and Hong Kong International airports, and made VistaJet the second-largest private jet company outside America. [12] During this period, the firm entered private aviation markets in Africa, Asia-Pacific and the Middle East [13] It also re-designed its marketing and aircraft cabins to position itself as a branded luxury good. [14] By 2009, the firm was operating a fleet of 23 jets. [15]

2010–2016

In 2012, VistaJet ordered 142 Bombardier Global 5000, 6000, 7000, and 8000 aircraft, potentially to a value of $7.8 billion. In 2013, VistaJet placed a further order for 20 Bombardier Challenger aircraft, with options for another 20, in a deal worth around $518 million. [16]

The firm expanded its service to America in 2013 via a partnership with Jet Aviation Flight Services, which initially operated a fleet of Bombardier Global aircraft on VistaJet's behalf. The move saw VistaJet targeting former and current fractional ownership customers in the US, as well as full aircraft owners. [17]

By 2014, VistaJet had flown over 150,000 passengers and opened a representative office in New York. [2] In 2015, VistaJet expanded the US fleet available to customers to include the Challenger 350 aircraft, then operated by Priester Aviation. In the same year, it sold its remaining LearJet 60, ending the company's association with light jets, and began to exclusively operate Bombardier Challenger and Global aircraft. [18] VistaJet was the first international operator permitted to offer domestic flights in China. [19] In the same year, the company co-published a book with Assouline, titled The Art of Flying. [20]

In March 2016, VistaJet moved its corporate headquarters to Malta and took delivery of its 50th Maltese registered aircraft. [21] The company announced adding its 70th aircraft to the fleet in October 2016. The fleet in 2023 was 77 aircraft. [22]

2017–2018

Cabin of a VistaJet Challenger 850 Vistajet, EBACE 2019, Le Grand-Saconnex (EB190480).jpg
Cabin of a VistaJet Challenger 850

In 2017, the firm expanded its US-based fleet by 50%. [23] In March 2017, the company completed its 100,000th flight. In May, VistaJet abolished positioning fees. [24]

In August 2017, VistaJet announced a $150m investment by funds affiliated to Rhône Capital. Together with secondary acquisitions, Rhône would have a $200 million stake in VistaJet, valuing VistaJet at more than $2.5 billion. The company is one of the top five European startups by funding. [25]

In November 2017, VistaJet announced a worldwide partnership with Christie's to sponsor the exhibition and tour of The Collection of Peggy and David Rockefeller, dedicated to raising funds for philanthropic causes. The tour took highlights of the Rockefellers' collection to Hong Kong, London, Paris, Beijing, Los Angeles and Shanghai, ending in New York with the auction. [26]

In September 2018, Vista Global, the holding company of VistaJet, announced it had acquired the fleet and commercial operations of the US-based charter operator and broker XOJET. [27]

2019

In April 2019, Vista Global announced it had purchased JetSmarter, a digital broker with a membership program enabling customers to book single seats on private jet flights. [28] XOJET Aviation LLC will be the operator for VistaJet US Inc registered aircraft. [29]

2020–2022

During the 2019-2020 COVID-19 pandemic, VistaJet offered complimentary empty leg flights for governments and medical transportation. [30] It also took delivery of its first Bombardier Global 7500 aircraft. In 2021, the firm added a further four 7500s and sold more than 8,000 new annual subscription hours, up 67% year-on-year. It also acquired light jets and aircraft management services, through its purchase of Red Wing Aviation, Apollo Jet and Talon Air. [31]

In March 2022, VistaJet added its 10th Global 7500 to the fleet, making it the largest operator of the Global 7500 aircraft in the world. [32]

By the end of 2022 VistaJet's fleet of Global 7500 had grown to 18 aircraft. [33]

Vista Global Holding (Vista) announces that it has entered into an agreement to acquire Air Hamburg's operating platform and maintenance services. Founded in 2006, Air Hamburg has become one of the most well-established full-service private aviation companies, flying to over 1,000 destinations in Europe alone. [34]

Business model

VistaJet's business model was designed in opposition to fractional jet ownership, where usage prices tend to be lower but the overall cost of ownership is potentially greater. [8]

VistaJet's business model is to fly to destinations on demand rather than as part of a scheduled route, known as a "go-anywhere any-time". The jets are owned by the company and are hired to clients at an hourly rate rather than leased. [35] [36]

VistaJet operates two passenger service offerings, named "Program" and "Direct". The "Program" is a multi-year subscription with committed payments securing guaranteed availability, marketed as an alternative to business jet ownership. [37] [38] [39] [40] "Direct" customers request flights directly. It also grants access to preferential rates on empty legs and one-way flights, based on aircraft availability. The VistaJet app was launched in summer 2017. [41] The firm is an official supplier to Scuderia Ferrari. [42]

Fleet

VistaJet Bombardier Global 6000 VistaJet Bombardier Global 6000, Le Grand-Saconnex (BL7C0566).jpg
VistaJet Bombardier Global 6000

VistaJet operates Bombardier business jets and has the largest Bombardier super-mid to large business jet fleet in the industry. Its current[ when? ] fleet includes: [43]

VistaJet is reportedly Bombardier's single largest customer. [44] In 2012, VistaJet placed US$7.8 billion in both firm and option orders for 142 Bombardier Global business jets. [45]

In 2013, VistaJet placed a firm order for 20 Challenger 350 jets and options for an additional 20 Challenger 350 jets, worth US$1.035 billion. [46] In 2016, the fleet doubled to over 70 Challenger and Global aircraft.[ citation needed ]

The firm has commissioned artists for nose art projects. In 2011, the street artist Retna was commissioned to graffiti the tail of a Bombardier Global Express XRS, [47] and, in 2013, an Ian Davenport design was commissioned by VistaJet and Fabergé for the tail of a VistaJet Bombardier Global 6000. The Davenport art piece coincided with a promotional campaign in which Fabergé eggs were offered to VistaJet clients as an in-flight jewelry purchase. [48]

See also

Related Research Articles

Bombardier Aviation is a division of Bombardier Inc. It is headquartered in Dorval, Quebec, Canada. Its most popular aircraft included the Dash 8 Series 400, CRJ100/200/440, and CRJ700/900/1000 lines of regional airliners, and the newer CSeries. It also manufactured the Bombardier 415 amphibious water-bomber, and currently makes the Global Express and the Challenger lines of business jets.

<span class="mw-page-title-main">Business jet</span> Civil jet aircraft used by companies

A business jet, private jet, or bizjet is a jet aircraft designed for transporting small groups of people, typically business executives and high-ranking associates. Business jets are generally designed for faster air travel and more personal comfort than commercial aircraft, and may be adapted for other roles, such as casualty evacuation or express parcel deliveries, and some are used by public bodies, government officials, VIPs, or even the armed forces.

<span class="mw-page-title-main">Bombardier Global Express</span> Large cabin business jet

The Bombardier Global Express is a large cabin, long-range business jet designed and manufactured by Bombardier Aviation. Announced in October 1991, it first flew in October 1996, received its Canadian type certification in July 1998 and entered service in July 1999. Initially powered by two BMW/Rolls-Royce BR710s, it shares its fuselage cross section with the Canadair Regional Jet and Challenger 600 with a new wing and tail.

<span class="mw-page-title-main">Bombardier Challenger 600 series</span> Business jet family by Canadair, later Bombardier

The Bombardier Challenger 600 series is a family of business jets developed by Canadair after a Bill Lear concept, and then produced from 1986 by its new owner, Bombardier Aerospace. At the end of 1975, Canadair began funding the development of LearStar 600, and then bought the design for a wide-cabin business jet in April 1976. On 29 October, the programme was launched, backed by the Canadian federal government, and designed to comply with new FAR part 25 standards.

<span class="mw-page-title-main">Airbus A220</span> Narrow-body jet airliner family

The Airbus A220 is a family of five-abreast narrow-body airliners by Airbus Canada Limited Partnership (ACLP). It was originally developed by Bombardier and had two years in service as the Bombardier CSeries. The program was launched on 13 July 2008. The smaller A220-100 made its maiden flight on 16 September 2013, was awarded an initial type certificate by Transport Canada on 18 December 2015, and entered service on 15 July 2016 with launch operator Swiss Global Air Lines. The longer A220-300 first flew on 27 February 2015, received an initial type certificate on 11 July 2016, and entered service with airBaltic on 14 December 2016.

SpiceJet is an Indian low-cost airline headquartered in Gurgaon, Haryana. As of November 2023, it is the fourth largest airline in India by number of domestic passengers carried, with a market share of 6.2% and connects 73 destinations, including 60 Indian and 13 international from its bases at Delhi and Hyderabad.

<span class="mw-page-title-main">Bombardier Challenger 300</span> Business jet made by Bombardier Aerospace

The Bombardier Challenger 300 is a 3,100-nautical-mile range super mid-sized business jet designed and produced by the Canadian aircraft manufacturer Bombardier Aerospace.

NetJets Inc. is an American company that sells fractional ownership shares in private business jets.

<span class="mw-page-title-main">Bombardier CRJ100/200</span> Regional jet airliner

The Bombardier CRJ100 and CRJ200 is a regional jet designed and manufactured by Bombardier Aerospace between 1991 and 2006, the first of the Bombardier CRJ family.

<span class="mw-page-title-main">Bombardier CRJ700 series</span> Regional jet airliner series

The Bombardier CRJ550, CRJ700, CRJ705, CRJ900, and CRJ1000 are a family of regional jet airliners that were designed and manufactured by Canadian transportation conglomerate Bombardier between 1999 and 2020. Their design was derived from the smaller CRJ100 and 200 airliners, the other members of the Bombardier CRJ aircraft family. The CRJ program was acquired by the Japanese corporation Mitsubishi Heavy Industries in 2020, which ended production of the aircraft.

<span class="mw-page-title-main">Gulfstream G650/G700/G800</span> Executive transport aircraft

The Gulfstream G650 is a large business jet produced by Gulfstream Aerospace. The model is designated Gulfstream GVI in its type certificate. The aircraft can be configured to carry from 11 to 18 passengers over a range of 7,000 nautical miles [nmi] at a top speed of Mach 0.925. The aircraft is powered by two Rolls-Royce BR725 turbofans, mounted on the rear fuselage. Gulfstream began the G650 program in 2005 and revealed it to the public in 2008. The G650ER is an extended-range version of the G650, adding about 500 nmi by modifying the fuel system, an upgrade offered for existing G650 aircraft.

<span class="mw-page-title-main">Bombardier Global 7500</span> Business jet

The Bombardier Global 7500 and Global 8000 are ultra long-range business jets developed by Bombardier Aviation and remain the largest business jets in the world. Announced in October 2010, the program was delayed by two years due to a wing redesign. The 7500, originally named the 7000, made its first flight on November 4, 2016, was type certified by Transport Canada on September 28, 2018, and entered service on 20 December 2018.

<span class="mw-page-title-main">XOJET Aviation LLC</span> Private airliner provider service

XO is a US-based private aviation company and subsidiary of Vista Global with its headquarters in Fort Lauderdale, Florida. XO, with a worldwide fleet access of more than 1,450 private aircraft, offers clients on-demand private jet charters with fixed-price membership programs as alternatives to jet cards and fractional ownership of aircraft. The company also offers the ability to purchase individual seats on pre-arranged, shared flights.

Kenneth C. "Kenn" Ricci is an American aviation entrepreneur, the principal of Directional Aviation Capital, which owns or invests in various aviation enterprises including Flight Options and Flexjet, which he also serves as chairman. He is an operating partner at Resilience Capital Partners, a private equity firm with a wide variety of portfolio companies, including an investment in Flight Options, and has helped found or lead other companies, including Nextant Aerospace and Constant Aviation.

Delta Private Jets, Inc. was an airline of the United States. Its corporate headquarters was on the property of Cincinnati/Northern Kentucky International Airport in Boone County, Kentucky. It operated business jet aircraft as a subsidiary of Delta Air Lines. Its main base was Cincinnati/Northern Kentucky International Airport.

<span class="mw-page-title-main">ACM Air Charter</span> German airline

ACM Air Charter is a German airline based at Karlsruhe/Baden-Baden Airport. In addition to charter flights and aircraft management the airline operates the business aviation terminal and a maintenance facility at its homebase airport.

<span class="mw-page-title-main">Flexjet</span> Airline of the United States

Flexjet is an American provider of fractional ownership aircraft, leasing, and jet card services. Founded in 1995 as a division of Bombardier Aerospace, it is currently owned by Directional Aviation, an aviation private investment firm.

<span class="mw-page-title-main">Thomas Flohr</span> Swiss businessman

Thomas Flohr is a Swiss businessman, founder and chairman of VistaJet, a private jet charter company, amateur racing driver and former billionaire.

Vista Global Holding Limited is a private aviation group based in Dubai. It was founded in 2018 by Thomas Flohr.

References

  1. "List of AOC Holders". Transport Malta. Retrieved 13 July 2023.
  2. 1 2 Cave, Andrew. "The Man Who Could Prove Warren Buffett Wrong About Aviation". Forbes. Retrieved 10 December 2016. When you see the $55m asset of a major company sitting in a remote airport in Norilsk, Russia, or Ubon Ratchathani, Thailand, it's not because somebody is on holiday, it's because a captain of industry, chairman or chief executive is considering a major investment.[ dead link ]
  3. "Vista announces record full year performance 2022 with revenue up over 50% YOY" (Press release). VistaJet International Ltd. 23 January 2023. Retrieved 24 January 2023 via GlobeNewswire.
  4. "70th aircraft added to the VistaJet fleet". Aviation News. Retrieved 10 December 2016.[ dead link ]
  5. Siebenmark, Jerry. "VistaJet Bolsters Safety with Osprey Integration". Aviation International News. Retrieved 3 December 2019.
    - Gollan, Doug (28 October 2016). "For VistaJet's Thomas Flohr, Being On The Road And In The Skies Is A Constant". Forbes. Retrieved 10 December 2016.
  6. Cave, Andrew. "From Beyoncé To Zlatan Ibrahimovic: Putting Malta On The Aviation Map". Forbes. Retrieved 10 December 2016.[ dead link ]
    - "A Year of Incredible Growth for the Global Business Aviation Unicorn" (Press release). VistaJet International Ltd. 17 January 2018. Retrieved 24 May 2018 via Markets Insider.
  7. Gollan, Doug (28 October 2016). "For VistaJet's Thomas Flohr, Being On The Road And In The Skies Is A Constant". Forbes. Retrieved 10 December 2016.
  8. 1 2 Gollan, Doug (18 September 2022). "How VistaJet's Thomas Flohr Is Conquering The Global Private Jet Market". Forbes. Retrieved 28 March 2023.
  9. Rob Corder (2 October 2009). "Where are all the high-fliers?". Arabian Business. Retrieved 12 December 2016.
    - "The Thomas Flohr Affair". Enigma. 14 April 2009. Retrieved 12 December 2016.
  10. 1 2 "Selling Lifestyle". Leaders Online. Retrieved 12 December 2016.
  11. Ian Goold (20 May 2008). "VistaJet buys Bombardier's Skyjet charter". Aviation International News. Retrieved 12 December 2016.
  12. "EBACE 2008: VistaJet aims high with Bombardier double deal". FlightGlobal. 20 May 2008. Retrieved 10 December 2016.
  13. "VistaJet headed to China". FlyCorporate. 29 July 2015. Retrieved 10 December 2016.[ dead link ]
    - "VistaJet and Apex Air Team to Offer Domestic Flights in China(衆院選2012特集)". Infoseek ニュース. Retrieved 10 December 2016.[ dead link ]
  14. Kirby J. Harrison (23 February 2011). "VistaJet cabins get an additional touch of class". Aviation International News. Retrieved 12 December 2016.
  15. Done, Kevin (11 May 2009). "VistaJet: Dissatisfied customer addresses his own complaints" . Financial Times. Retrieved 28 March 2023.
  16. Terry Spruce (18 June 2013). "VistaJet orders 40 Challenger 350 jets". Corporate Jet Investor. Retrieved 10 December 2016.
  17. Charles Alcock (6 September 2013). "VistaJet Enters U.S. Market To Go Head to Head with Frax". Aviation International News. Retrieved 10 December 2016.
  18. "VistaJet says goodbye to last LearJet 60". Corporate Jet Investor. 20 March 2015. Retrieved 10 December 2016.
  19. "VistaJet Launches Private Jet Charter Service in China". Robb Report. 21 September 2015.[ dead link ]
  20. Jonathan Bell (4 December 2015). "The sky's the limit: Josh Condon extols all things aviation in 'The Art of Flying'". Wallpaper*. Retrieved 24 May 2018.
    - "Inside 'The Art of Flying,' A Love Letter to Luxurious Flight". Condé Nast Traveler. 5 November 2015. Retrieved 24 May 2018.
  21. Terry Spruce (23 March 2016). "VistaJet to move global headquarters". Corporate Jet Investor. Retrieved 10 December 2016.
  22. "VistaJet Fleet Reaches 70 Aircraft" (Press release). VistaJet International Ltd. 24 October 2016. Retrieved 28 March 2023 via Yahoo! Finance.
  23. "VistaJet's US customer base trebles – reinforcing its commanding position". Vistajet. 9 October 2017. Retrieved 16 November 2023.
  24. "VistaJet Nixes Positioning Fees" . Aviation Week. 22 May 2017. Retrieved 24 May 2018.
    - Frean, Alexandra (13 March 2017). "High-flyers ditch private jets for airborne taxis" . The Times. ISSN   0140-0460 . Retrieved 24 May 2018.
    - "VistaJet adds WeChat sales capability". Corporate Jet Investor. 10 April 2017. Retrieved 24 May 2018.
    - Bland, Ben (21 April 2017). "Hard landing for China's private jet market" . The Financial Times. Retrieved 24 May 2018.
  25. "The 8 Biggest Startups in Europe by Funding". Nanalyze. 3 October 2017. Retrieved 24 May 2018.
  26. "VistaJet Partners With Christie's for the Global Tour of The Collection of Peggy and David Rockefeller". The Financial Times. Retrieved 24 May 2018.[ dead link ]
  27. "It's a Small World After All". Robb Report. 20 September 2018. Retrieved 16 November 2023.
  28. Rob Wile (23 October 2020). "JetSmarter is being acquired. Its buyer plans to hire more in Fort Lauderdale" . Miami Herald.
  29. Sarsfield, Kate (27 September 2018). "Vista Global strengthens US presence with XOJET buy" . FlightGlobal. Retrieved 28 March 2023.
  30. Emma Reynolds (25 March 2020). "VistaJet Launches Community Support Initiatives Amid Covid-19". Elite Traveler. Retrieved 17 August 2020.
  31. Siebenmark, Jerry (9 August 2021). "Vista Global Notes Record Growth in First-half 202 1". Aviation International News. Retrieved 13 August 2021.
  32. "Celebrating the Delivery of VistaJet's 10th, and Bombardier's 100th, Global 7500 Business Jet in Another Milestone for the Industry Flagship" (Press release). Bombardier. 30 March 2022.
    - "VistaJet's 10th Global 7500 delivery" (Press release). VistaJet International Ltd. 30 March 2022.
    - Verdon, Michael (30 March 2022). "VistaJet Adds Another Bombardier Global 7500 to Its Lineup". Robb Report.
    - "Celebrating the delivery of VistaJet 10th, and Bombardier's 100th, Global 7500 business jet" (Press release). VistaJet International Ltd. 30 March 2022 via GlobeNewswire.
  33. Ltd, VistaJet International (23 January 2023). "Vista announces record full year performance 2022 with revenue up over 50% YOY". GlobeNewswire News Room (Press release). Retrieved 24 January 2023.
  34. "Vista acquires AIR HAMBURG" (Press release). 5 September 2023.
  35. "Introducing Nina Flohr, New-Age Aviation Royalty". Harper's Bazaar Malaysia. 5 June 2016. Retrieved 10 December 2016.[ dead link ]
  36. "Private jets for the sharing economy: VistaJet founder". CNBC. 21 November 2017. Retrieved 23 March 2018.
  37. "On Demand". VistaJet. Retrieved 10 December 2016.
  38. Richard Crump (3 January 2016). "Interview: VistaJet CFO Laela Pakpour Tabrizi" . Financial Director. Retrieved 10 December 2016.
  39. "From passenger to start-up pilot" . The Financial Times. 4 February 2014. Retrieved 10 December 2016.
  40. Polina Marinova (17 March 2016). "How This Entrepreneur Built a $16,000-an-Hour Private Jet Business" . Fortune. Retrieved 10 December 2016.
  41. Zoe Dickens (30 August 2017). "VistaJet launches digital membership platform VistaJet Direct". Boat International. Retrieved 24 May 2018.
  42. "VistaJet continues its partnership with Scuderia Ferrari for the 2020 Formula One World Championship". Travel Daily News International. Retrieved 31 March 2020.[ dead link ]
  43. "Luxury Private Jets". VistaJet International Ltd. Retrieved 6 July 2023.
  44. Eric Reguly (3 January 2014). "VistaJet's Thomas Flohr: A collector with a view from the clouds". The Globe and Mail. Retrieved 10 December 2016.
  45. "VistaJet and Bombardier sign billion-dollar deal for Global business jets". Corporate Jet Investor. 30 November 2012. Retrieved 10 December 2016.
  46. "VistaJet Places Order for up to 40 Bombardier Business Jets" (Press release). Bombardier.[ dead link ]
  47. Jared Paul Stern; James Spotting (23 May 2011). "This $60 Million Private Jet Might Be The World's Most Expensive Piece Of Street Art" . Business Insider. Retrieved 10 December 2016.
  48. DeMarco, Anthony (29 March 2013). "Exclusive Collection of Fabergé Eggs Available On VistaJet Flights". Forbes. Retrieved 22 February 2017.