Global luxury charter operator VistaJet plans to add over $1 billion in new private jets in the next 24 months. It comes as initiatives to coddle the nascent corporate travel market are apparently paying off.
Global private aviation networks will be even more vital to support businesses and the economy.-Thomas Flohr, chairman and founder, Vista Global Holding
The company this morning announced it expects to take delivery of a dozen ultra-long-haul Bombardier Global 7500s and 10 super-midsize Challenger 350s in the next two years. It also accepted delivery of two “ready for commercial availability” Global 7500s. The Malta-based provider said it has seen a surge of nearly 50% in corporate interest globally since July 2020.
The additions will bring the VistaJet fleet to over 90 super-midsize, large cabin, and ultra-long-haul private jets. Parent Vista Global Holding’s total fleet operated across VistaJet, XOJET Aviation, Red Wing Aviation, and once its acquisition of Talon Air closes, is currently 179 aircraft, according to Amstat.
|Red Wing Aviation||14||–|
|Vista Global Holding (total)||–||168|
Today’s move would push parent Vista Global’s total fleet to around 190 aircraft. The Challengers, a new order, and the Globals, carry a rate card price of $28 million and $75 million, respectively.
Additionally, VistaJet said it will complete the upgrade of its entire Challenger 850 fleet this year. That includes the installation of the fastest in-flight connectivity available with KU-band technology,
Its Challenger 605 types will also be fully equipped with high-speed connectivity and upgraded interior by the end of the year.
Ninety-five percent of its Global 6000 aircraft will be upgraded this year, according to a press release. Upgrades to its existing Challenger 350s will follow suit by the end of 2022.
The majority of the Challenger 350 order, which is new, is expected to be delivered through 2022. According to Amstat the VistaJet brand already has 21 of the types in service.
“We continue to see rapid acceleration in new members, which is driven by corporate and executive demand for our business mobility offerings. Global private aviation networks will be even more vital to support businesses and the economy,” said Thomas Flohr, Vista Global’s chairman and founder.
In Q1 of this year, VistaJet’s flight hours sold increased 23% year-over-year. New Program members (its version of a jet card) up 90%.
Flohr added, “The expansion of our worldwide fleet will guarantee our customers full confidence in a consistent flying experience anywhere in the world — offering the best value in the industry through our unique asset-light flight solutions. We remain committed to providing critical support to businesses in this new world — we kept our business steady during 2020 and we are seeing much-increased demand for VistaJet’s asset-free solutions in 2021 and beyond.”
Bombardier CEO Éric Martel said of the order, “We are extremely proud of our long-standing partnership with VistaJet and are thrilled that they have again chosen Bombardier aircraft to support their fleet expansion plans. With unmatched performance and comfort, the Global 7500 and Challenger 350 are the perfect aircraft to support VistaJet’s rapid growth as more people turn to business aviation and the enhanced safety and reliability it provides.”
(Editor’s note @ 7:48 am on April 6, 2021: An earlier version double-counted VistaJet owned aircraft operated by XOJET. The table has now been corrected.)