VistaJet joins Stakeholder Principles in the COVID Era

By Doug Gollan, June 2, 2020

Vista Global Holdings founder and chairman Thomas Flohr has signed on to the World Economic Forum’s CEO pledge to stakeholders

Vista Jet’s founder and chairman Thomas Flohr has joined other global CEOs signing “business principles for a new era.” The document comes from the World Economic Forum.

VistaJet joins World Economic Forum Pledge

The luxury-focused global private jet charter operator is supporting “Stakeholder Principles in the COVID Era.” The initiative is from the World Economic Forum.

The Covid-19 document was announced last month. It came under the signature of WEF chairman Klaus Schwab, Bank of America chairman Brian Moynihan, and Dutch government envoy on coronavirus Feike Sijbesma, and Jim Snabe, chairman of Siemens and Maersk.

It declares, “The business community’s contribution: to be leaders of responsiveness and stewards of resilience.”

Business leaders who sign on endorse key principals:

  • To employees, our principle is to keep you safe: We will continue do everything we can to protect your workplace, and to help you to adapt to the new working condition
  • To our ecosystem of suppliers and customers, our principle is to secure our shared business continuity: We will continue to work to keep supply chains open and integrate you into our business response
  • To our end consumers, our principle is to maintain fair prices and commercial terms for essential supplies
  • To governments and society, our principle is to offer our full support: We stand ready and will continue to complement public action with our resources, capabilities and know-how
  • To our shareholders, our principle remains the long-term viability of the company and its potential to create sustained value

The letter from the business leaders stated, “We accept our responsibility to address these crises. The first priority is to win the war against coronavirus. We need to do that while doing all we can to help our stakeholders now and, at the same time, to avoid a prolonged economic impact in the future. We will continue to embody ‘stakeholder capitalism’ and do all we can to help those who are affected, and help secure our common prosperity.”

The foursome concluded by stating, “As business leaders, we pledge to stand at society’s service, to help preserve and rebuild a viable society and economy, and to do all we can for our stakeholders.”

VistaJet’s Sustainability Focus

As part of the pledge, signees vow to continue sustainability efforts. Earlier this year VistaJet used the group’s annual meeting in Davos to launch its CO2 reduction plan. In a whitepaper, the company pointed out that aviation contributes 2% of global CO2 emissions. Private aviation is just 2% of that number.

Last month, in a letter to customers, Flohr pointed to NetJets, the world’s largest private jet operator. The message included a link to an article covering furloughs at NetJets’ European subsidiary.

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