The private jet operator said U.S. flight hours jumped 39% last year driven by its flexible, global version of a jet card program
VistaJet reported 2017 flight revenue rose by 22% driven by the continued popularity of its subscription business model, VistaJet’s version of a jet card. The company also reported its EBITDA jumped by 28% driven by its “scalable infrastructure and technological advantage.” The company has posted year-over-year organic compounded revenue growth of over 18% between 2008 and 2017, it said.
In a press release announcing the results, Due to its global platform, VistaJet stated its “diverse and broad customer base means that it is largely protected from political or economic uncertainty in any one market, and can benefit from positive economic results in each region.” It said there was growth in flight hours in all of its core markets, and in the U.S. there was 39% spike.
VistaJet continues to focus on a global approach and last year waived most ferry fees making the program desirable for fliers who want to travel worldwide. As opposed to a program with rigid rules and policies, VistaJet says its success is based offering tailored solutions “anywhere, anytime, globally.”
Thomas Flohr, VistaJet’s Founder and Chairman, said in a prepared statement, “2017 has been another record year. Along with taking market share from full and fractional ownership in all the core markets, including the largest market in the world – the U.S., we reinforced our position as the brand of choice for the world’s leading business leaders and entrepreneurs. In the last twelve months, we have flown more chief executives and chairmen to more destinations than we ever have before.”
He added, “Our strategy, both in terms of geography and services, is working. We continue to see sustainable growth across our business and retain the ability to adapt our offer to meet demand in every region. It’s particularly pleasing to see our entire portfolio of flight solutions reporting growth last year.”
Last year VistaJet gained a billion-dollar valuation after raising $150 million in new funding from Rhone Capital. It also launched a new App and an entry-level program, VistaJet Direct, offering last-minute preferred pricing for aircraft available and not committed that would have otherwise been on the ground as well as empty legs.
Flohr said, “We are committed to becoming the No.1 player in every market in which we operate, and we are on course to make fast progress towards that goal over the next twelve months.”