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VistaJet

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"Skyjet International" redirects here. For other uses, see Sky Jet (disambiguation).
VistaJet Holding SA
Bombardier Global 6000
IATA ICAO Call sign
- VJT VISTA JET
Founded2004
Commenced operations2005
AOC #Malta MT-17[1]
Operating bases
Focus citiesGlobal
Frequent-flyer programProgram
Fleet size73 jets
Parent companyVista Global Holding Limited
HeadquartersLuqa, Malta
Key people
Websitehttps://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]

Its fleet consists of 73 privately-owned, mid-to-large-cabin, ultra-long-range Bombardier Global and Challenger business jets.[3] As of 2018, it has flown to 187 countries, 1900 airports and served 367,000+ passengers.[4][5] Its headquarters are in Malta, with further offices in London, New York, Los Angeles, Hong Kong and Dubai.[6][7]

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.[8]

History

VistaJet was originally named Air Executive when Flohr founded the business in 2004. Its then-headquarters were in Switzerland, with operations in Austria.

2003-2005

In 2003 Flohr bought a plane for his own use. He was able to buy this plane and subsequent planes 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 favourable dollar/euro exchange rate.[9][10][11]

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

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; it 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.

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.[12] The deal included taking over Skyjet's bases in Farnborough, Dubai and Hong Kong, and made VistaJet the second-largest private jet company outside America.[13] During this period the firm entered private aviation markets in Africa, Asia-Pacific and the Middle East[14][15] It also re-designed its marketing and aircraft cabins to position itself as a branded luxury good.[16] By 2009 the firm was operating a fleet of 23 jets.

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 20 Bombardier Challenger aircraft, with options for another 20, in a deal worth around $518 million.[17]

The firm expanded its service to America in 2013 via a partnership with Jet Aviation Flight Services, who initially operated a fleet of Bombardier Global aircraft on VistaJet's behalf. The move saw VistaJet's targeting former and current fractional ownership customers in the US, as well as full aircraft owners.[18]

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 final remaining LearJet 60, ending the company's association with light jets, and began to exclusively operate Bombardier Challenger and Global aircraft.[19] VistaJet became the first international operator permitted to offer domestic flights in China.[20] In the same year the company co-published a book with Assouline, titled The Art of Flying.[21][22]

In March 2016, VistaJet moved its corporate headquarters to Malta and took delivery of its 50th Maltese registered aircraft.[23] The company announced adding its 70th aircraft to the fleet in October 2016. The fleet now stands at 77 aircraft.

2017-2018

Cabin of a VistaJet Challenger 850

In 2017 the firm expanded its U.S. based fleet by 50%.[24] In March 2017 the company completed its 100,000th flight. In May VistaJet abolish positioning fees.[25][26][27][28]

In August 2017 VistaJet announced a $150m investment by funds affiliated to Rhône Capital. Together with secondary acquisitions, Rhône will have a $200 million stake in VistaJet, valuing VistaJet's at $2.5 billion+. The company is one of the top five European startups by funding.[29]

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, Shanghai, ending in New York with the auction.[30]

In September 2018, Vista Global, the holding company of VistaJet, announced it had acquired the fleet and commercial operations of the U.S.-based charter operator and broker XOJET[31]

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.[32] XOJET Aviation LLC will be the operator for VistaJet US Inc registered aircraft.

2020-2021

During the 2019-2020 COVID-19 pandemic, VistaJet offered complimentary empty leg flights for Governments and medical transportation.[33] 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, via its purchase of Red Wing Aviation, Apollo Jet, and Talon Air.[34]

In 2022 VistaJet added their 10th Global 7500 to the fleet, making them the largest operator of the Global 7500 aircraft in the world.[35][36][37][38]

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.

VistaJet's business model sees it flying 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 out to clients at an hourly rate rather than leased.[39][40]

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.[41][42][43][44] Direct sees customers requesting flights directly. It also grants access to preferential rates on empty legs and one-way flights, based on aircraft availability. VistaJet app launched in summer 2017.[45][46] The firm is an official supplier to Scuderia Ferrari.[47]

Fleet

VistaJet Bombardier Global 6000

VistaJet operates Bombardier business jets. VistaJet has the largest Bombardier super-mid to large business jet fleet in the industry.

Its current fleet includes:

VistaJet is reportedly Bombardier's single largest customer.[48] In 2012 VistaJet placed US$7.8 billion in both firm and option orders for 142 Bombardier Global business jets.[49]

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.[50]

In 2016 the fleet doubled to over 70 Challenger and Global aircraft.

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,[51] 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 that saw Fabergé eggs offered to VistaJet clients as an in-flight jewelry purchase.[52]

References

  1. ^ "Approved Organisations & Operators AOC Holders - Transport Malta". www.transport.gov.mt. Retrieved 2020-02-20.
  2. ^ a b Cave, Andrew. "The Man Who Could Prove Warren Buffett Wrong About Aviation". Forbes. Retrieved 2016-12-10. 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.
  3. ^ "70th aircraft added to the VistaJet fleet". www.aviation-news.co.uk. Retrieved 2016-12-10.
  4. ^ Siebenmark, Jerry. "VistaJet Bolsters Safety with Osprey Integration". Aviation International News. Retrieved 2019-12-03.
  5. ^ Gollan, Doug. "For VistaJet's Thomas Flohr, Being On The Road And In The Skies Is A Constant". Forbes. Retrieved 2016-12-10.
  6. ^ Cave, Andrew. "From Beyoncé To Zlatan Ibrahimovic: Putting Malta On The Aviation Map". Forbes. Retrieved 2016-12-10.
  7. ^ GmbH, finanzen.net. "A Year of Incredible Growth for the Global Business Aviation Unicorn | Markets Insider". markets.businessinsider.com. Retrieved 2018-05-24.
  8. ^ Gollan, Doug. "For VistaJet's Thomas Flohr, Being On The Road And In The Skies Is A Constant". Forbes. Retrieved 2016-12-10.
  9. ^ "Where are all the high-fliers?". Arabian Business. Retrieved 2016-12-12.
  10. ^ a b VistaJet, Thomas Flohr. "LEADERS Interview with Thomas Flohr, Founder and Chairman, VistaJet". www.leadersmag.com. Retrieved 2016-12-12.
  11. ^ "The Thomas Flohr Affair - ENIGMA". ENIGMA. 2009-04-14. Retrieved 2016-12-12.
  12. ^ "VistaJet buys Bombardier's Skyjet charter". Aviation International News. Retrieved 2016-12-12.
  13. ^ "EBACE 2008: VistaJet aims high with Bombardier double deal". Flightglobal.com. 2008-05-20. Retrieved 2016-12-10.
  14. ^ "VistaJet headed to China". FlyCorporate - Bringing together business aviation and business leaders. 2015-07-29. Retrieved 2016-12-10.
  15. ^ "VistaJet and Apex Air Team to Offer Domestic Flights in China(衆院選2012特集) - Infoseek ニュース". Infoseek ニュース. Retrieved 2016-12-10.
  16. ^ "VistaJet cabins get an additional touch of class". Aviation International News. Retrieved 2016-12-12.
  17. ^ "VistaJet orders 40 Challenger 350 jets | Corporate Jet Investor". corporatejetinvestor.com. Retrieved 2016-12-10.
  18. ^ "VistaJet Enters U.S. Market To Go Head to Head with Frax". Aviation International News. Retrieved 2016-12-10.
  19. ^ "VistaJet says goodbye to last LearJet 60 | Corporate Jet Investor". corporatejetinvestor.com. Retrieved 2016-12-10.
  20. ^ "VistaJet Launches Private Jet Charter Service in China". 2015-09-21.
  21. ^ Magazine, Wallpaper* (2015-12-04). "The sky's the limit: Josh Condon extols all things aviation in 'The Art of Flying'". Wallpaper*. Retrieved 2018-05-24.
  22. ^ Editors, CNT. "Photos of the Glory Days of Flight, Complete With Bartenders". Condé Nast Traveler. Retrieved 2018-05-24. {{cite news}}: |last= has generic name (help)
  23. ^ "VistaJet to move global headquarters | Corporate Jet Investor". corporatejetinvestor.com. Retrieved 2016-12-10.
  24. ^ https://privatejetcardcomparisons.com/2017/10/09/on-strong-results-vistajet-says-it-will-boost-u-s-fleet-by-50/ . Private Jet Card Comparisons
  25. ^ "VistaJet Nixes Positioning Fees". aviationweek.com. Retrieved 2018-05-24.
  26. ^ Frean, Alexandra (2017-03-13). "High-flyers ditch private jets for airborne taxis". The Times. ISSN 0140-0460. Retrieved 2018-05-24.
  27. ^ "VistaJet adds WeChat sales capability | Corporate Jet Investor". corporatejetinvestor.com. Retrieved 2018-05-24.
  28. ^ "Subscribe to read". Financial Times. Retrieved 2018-05-24. {{cite web}}: Cite uses generic title (help)
  29. ^ "The 8 Biggest Startups in Europe by Funding - Nanalyze". Nanalyze. 2017-10-03. Retrieved 2018-05-24.
  30. ^ "VistaJet Partners With Christie's for the Global Tour of The Collection of Peggy and David Rockefeller". markets.ft.com. Retrieved 2018-05-24.
  31. ^ Private Jet Card Comparisons https://privatejetcardcomparisons.com/2018/09/20/vistajet-parent-vista-global-acquires-xojets-fleet-and-commercial-operations/
  32. ^ https://www.miamiherald.com/news/business/article229059544.html Miami Herald
  33. ^ "VistaJet Launches Community Support Initiatives Amid Covid-19". Elite Traveler. 2020-03-25. Retrieved 2020-08-17.
  34. ^ Siebenmark, Jerry. "Vista Global Notes Record Growth in First-half 2021". Aviation International News. Retrieved 2021-08-13.
  35. ^ "Celebrating the Delivery of VistaJet's 10th, and Bombardier's 100th, Global 7500 Business Jet in Another Milestone for the Industry Flagship". Bombardier.
  36. ^ "VistaJet's 10th Global 7500 delivery". www.vistajet.com.
  37. ^ Verdon, Michael (March 30, 2022). "VistaJet Adds Another Bombardier Global 7500 to Its Lineup".
  38. ^ Ltd, VistaJet International (March 30, 2022). "Celebrating the delivery of VistaJet 10th, and Bombardier's 100th, Global 7500 business jet". GlobeNewswire News Room.
  39. ^ "Introducing Nina Flohr, New-Age Aviation Royalty - Harper's Bazaar Malaysia". harpersbazaar.my. 2016-06-05. Retrieved 2016-12-10.
  40. ^ "Private jets for the sharing economy: VistaJet founder". CNBC. Retrieved 2018-03-23.
  41. ^ "On Demand | Private Jet Charter | VistaJet". VistaJet. Retrieved 2016-12-10.
  42. ^ "Interview: VistaJet CFO Laela Pakpour Tabrizi | Financial Director". www.financialdirector.co.uk. Retrieved 2016-12-10.
  43. ^ "From passenger to start-up pilot". www.ft.com. Retrieved 2016-12-10.
  44. ^ "How This Entrepreneur Built a $16,000-an-Hour Private Jet Business". Fortune. 2016-03-17. Retrieved 2016-12-10.
  45. ^ "VistaJet launches digital membership platform VistaJet Direct". Boat International. Retrieved 2018-05-24.
  46. ^ "Exclusive: VistaJet Launches VistaJet Direct Private Jet Membership Program". 2017-06-15.
  47. ^ "VistaJet continues its partnership with Scuderia Ferrari for the 2020 Formula One World Championship". TravelDailyNews International. Retrieved 2020-03-31.
  48. ^ "VistaJet's Thomas Flohr: A collector with a view from the clouds". The Globe and Mail. Retrieved 2016-12-10.
  49. ^ "VistaJet and Bombardier sign billion-dollar deal for Global business jets | Corporate Jet Investor". corporatejetinvestor.com. Retrieved 2016-12-10.
  50. ^ "VistaJet Places Order for up to 40 Bombardier Business Jets - Bombardier".
  51. ^ "This $60 Million Private Jet Might Be The World's Most Expensive Piece Of Street Art". Business Insider. Retrieved 2016-12-10.
  52. ^ DeMarco, Anthony. "Exclusive Collection of Fabergé Eggs Available On VistaJet Flights". Forbes. Retrieved 2017-02-22.
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