VistaJet’s Program – its version of a jet card – saw contracts in Europe double while renewal hours increased 33% during the first half of the year
Malta-based VistaJet said sustained demand for its jet card, the Program, drove a 32% year-on-year increase in new members, with Europe doubling the number of new contracts against the same period last year. Renewal hours recorded a growth of 33% while flight hours and flight revenues both increased by 27%. The company added North America accounts for 25% of its flights.
VistaJet said for members it also expanded partnerships with world leading art and sports partners such as Christie’s and British Polo Day, as well as the launch of “the most extensive traveler’s program for children in private aviation.”
In the first half of 2018, VistaJet said it flew over 30,000 clients around the world, a 23% growth against the same period last year. Average flight times rose, as demand for longer, intercontinental routes intensified – a trend expected to increase further over the second half of the year, according to a press release received by Private Jet Card Comparisons.
The company added, “Today’s results yet again demonstrate the global shift in flying preferences for individuals and corporations, who are moving away from aircraft ownership as they look to reduce flight costs and asset risks, without compromising on the convenience, benefits and comfort of business aviation. With an equity valuation in excess of $2.5 billion, establishing the Company as Malta’s first unicorn and fifth in Europe, VistaJet is well positioned to take even more market share by offering global coverage, consistent unparalleled quality and maximum efficiency.”
Its founder and chairman Thomas Flohr added, “2017 was our strongest ever year and we started 2018 with an impressive acceleration. We continue to see sustainable growth across our business and retain the ability to adapt our offer to meet demand in every region around the globe. Our unique fleet and technology platform ideally places us to lead the market and seize new opportunities. We are committed to becoming the number one player in every market in which we operate, and we are on course to progress quickly towards our goal over the remainder of the year.”