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

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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.