Wikipedia

VistaJet

"Skyjet International" redirects here. For other uses, see Sky Jet (disambiguation).

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]

VistaJet Holding SA
IATA ICAO Call sign
— VJT VISTA JET
Founded2004
Commenced operations2005
AOC #Malta MT-17[1]
Operating bases
Focus citiesGlobal
Frequent-flyer programProgram
SubsidiariesAir Hamburg
Fleet size360 jets
Parent companyVista Global Holding
HeadquartersLuqa, Malta
Key people
Websitehttps://www.VistaJet.com

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 2024, it flew to 207 countries, 2,400 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, such as the US, where VistaJet-owned and U.S.-registered aircraft are operated by licensed U.S. direct air carriers.[7]

History

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

2003–2005

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In 2003, Flohr bought an aircraft for his own use. He was able to purchase 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 purchase a second, bigger plane, which was flying 100 hours per month within three months of purchase.[citation needed]

Flohr commissioned a financial analysis of the private aviation industry, driven by his interest in the field. The study indicated the absence of a single global brand in the industry and highlighted that many private jets available for hire were owner-operated, rented out only when not in use by the owners.To provide flights that were "not subject to owner availability," Flohr deviated from the industry norm of home bases, where privately owned charter planes typically return to a fixed location to remain at the owner's disposal. By eliminating the need for home bases, jets could pick up clients from the airport closest to their location.[10]

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

2006–2009

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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 redesigned 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

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In 2012, VistaJet ordered 142 Bombardier Global 5000, 6000, 7000, and 8000 aircraft, potentially worth $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 numbered 77 aircraft by 2023.

2017–2018

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Cabin of a VistaJet Challenger 850

In 2017, the firm expanded its US-based fleet by 50%.[22] In March 2017, the company completed its 100,000th flight. In May, VistaJet abolished positioning fees.[23]

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.[24]

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.[25]

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.[26]

2019

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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.[27] XOJET Aviation LLC will be the operator for VistaJet US Inc registered aircraft.[28]

2020–2022

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During the 2019-2020 COVID-19 pandemic, VistaJet offered complimentary empty leg flights for governments and medical transportation.[29] 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.[30]

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.[31]

By the end of 2022 VistaJet's fleet of Global 7500 had grown to 18 aircraft.[32]

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.[33]

2024

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In June 2024, Julian Assange departed the United Kingdom aboard a VistaJet plane.[34]

In 2024, VistaJet’s founder filed legal proceedings against AirX and British financier Timothy Horlick claiming a smear campaign had been launched against VistaJet. The filing also claims that AirX founder John Matthews used a burner email address with a fabricated identity to send emails to business contacts of VistaJet, bypassing court-ordered confidentiality.[35]

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In late 2024, VistaJet's founder and CEO Thomas Flohr faced serious allegations of fraud in a high-profile case at the Royal Courts of Justice in London.[36]The accusations were brought forward during a hearing where Flohr's legal team was attempting to prevent the case from proceeding to a full fraud trial.The specific details of the fraud allegations were not fully disclosed in public reports. However, the case has drawn significant attention in the business aviation industry and financial circles. Flohr's lawyers strongly denied the claims, describing them as unfounded and damaging to their client's reputation.[37]The legal proceedings have raised questions about VistaJet's financial practices and corporate governance. These concerns come in the context of earlier scrutiny of the company's financial health, including its debt levels and accounting practices. [38]

Business model

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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.[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" 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.[45] The firm is an official supplier to Scuderia Ferrari.[46]

Fleet

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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:[47]

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.[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,[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 in which Fabergé eggs were offered to VistaJet clients as an in-flight jewelry purchase.[52]

See also

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References

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  1. ^ "List of AOC Holders". Transport Malta. Retrieved 13 July 2023.
  2. ^ a b 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. ^ a b 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. ^ a b "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's US customer base trebles – reinforcing its commanding position". VistaJet. 9 October 2017. Retrieved 16 November 2023.
  23. ^ "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.
  24. ^ "The 8 Biggest Startups in Europe by Funding". Nanalyze. 3 October 2017. Retrieved 24 May 2018.
  25. ^ "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]
  26. ^ "It's a Small World After All". Robb Report. 20 September 2018. Retrieved 16 November 2023.
  27. ^ Rob Wile (23 October 2020). "JetSmarter is being acquired. Its buyer plans to hire more in Fort Lauderdale". Miami Herald.
  28. ^ Sarsfield, Kate (27 September 2018). "Vista Global strengthens US presence with XOJET buy". FlightGlobal. Retrieved 28 March 2023.
  29. ^ Emma Reynolds (25 March 2020). "VistaJet Launches Community Support Initiatives Amid Covid-19". Elite Traveler. Retrieved 17 August 2020.
  30. ^ Siebenmark, Jerry (9 August 2021). "Vista Global Notes Record Growth in First-half 202 1". Aviation International News. Retrieved 13 August 2021.
  31. ^ "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.
  32. ^ 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.
  33. ^ "Vista acquires AIR HAMBURG" (Press release). 5 September 2023.
  34. ^ Sarah N. Lynch; Alasdair Pal (25 June 2024). "WikiLeaks' Julian Assange to be freed after pleading guilty to US espionage charge". Reuters.
  35. ^ Meddings, Sabah. "WhatsApps, Fake Names and an Alleged Conspiracy Against VistaJet". Bloomberg.
  36. ^ "Vistajet Future". PPRuNe Forums. Retrieved 22 December 2024.
  37. ^ "Vistajet". www.ft.com. Retrieved 22 December 2024.
  38. ^ "Vistajet". www.ft.com. Retrieved 22 December 2024.
  39. ^ "Introducing Nina Flohr, New-Age Aviation Royalty". Harper's Bazaar Malaysia. 5 June 2016. Retrieved 10 December 2016.[dead link‍]
  40. ^ "Private jets for the sharing economy: VistaJet founder". CNBC. 21 November 2017. Retrieved 23 March 2018.
  41. ^ "On Demand". VistaJet. Retrieved 10 December 2016.
  42. ^ Richard Crump (3 January 2016). "Interview: VistaJet CFO Laela Pakpour Tabrizi". Financial Director. Retrieved 10 December 2016.
  43. ^ "From passenger to start-up pilot". The Financial Times. 4 February 2014. Retrieved 10 December 2016.
  44. ^ Polina Marinova (17 March 2016). "How This Entrepreneur Built a $16,000-an-Hour Private Jet Business". Fortune. Retrieved 10 December 2016.
  45. ^ Zoe Dickens (30 August 2017). "VistaJet launches digital membership platform VistaJet Direct". Boat International. Retrieved 24 May 2018.
  46. ^ "VistaJet continues its partnership with Scuderia Ferrari for the 2020 Formula One World Championship". Travel Daily News International. Retrieved 31 March 2020.[dead link‍]
  47. ^ "Luxury Private Jets". VistaJet International Ltd. Retrieved 6 July 2023.
  48. ^ 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.
  49. ^ "VistaJet and Bombardier sign billion-dollar deal for Global business jets". Corporate Jet Investor. 30 November 2012. Retrieved 10 December 2016.
  50. ^ "VistaJet Places Order for up to 40 Bombardier Business Jets" (Press release). Bombardier.[dead link‍]
  51. ^ 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.
  52. ^ DeMarco, Anthony (29 March 2013). "Exclusive Collection of Fabergé Eggs Available On VistaJet Flights". Forbes. Retrieved 22 February 2017.
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