“There is clearly a paradigm shift in the global client’s view of private aviation,” says Vista Global chairman Thomas Flohr In reporting record results
Last week we exclusively reported Vista Global Holding’s VistaJet, XO Global, Talon Air, and Red Wing Aviation saw revenue soar last year by $700 million, bringing the company’s totals to over $1.6 billion.
Now the company is issuing a statement.
Vista Global’s 2021 moves
“2021 has been an incredibly strong year for Vista, and we have delivered all-time record-breaking figures as a result of the huge demand for our subscription, membership, and on-demand offerings. There is clearly a paradigm shift in the global client’s view of private aviation, and Vista’s world-leading position has enabled clients across the globe to experience its benefits as a critical mobility solution,” said Vista Global Chairman Thomas Flohr in a statement.
Among the 2021 numbers, Vista increased subscription solutions and services sales by 59%. Flight hours gained 64%, 57% higher than before the pandemic. And it won contracts from over half of the world’s 10 largest companies.
VistaJet sold over 22,000 annual subscription hours in 2020, an increase of 90% compared to 2020. XO Elite, Signature, and Select memberships increased 68% last year. There was a considerable increase in technology adoption by members, with 84% of flights generated through XO’s online marketplace.
The company now has over 200 private jets in terms of the fleet after adding more than 30 in 2021.
During the year, Vista continued the upgrade and refurbishment program of its Global and Challenger fleet. It will be completed by the end of this year.
Carbon neutral by 2025
In 2021, VistaJet pledged to be carbon neutral by 2025, a quarter-century ahead of the industry’s target.
Over the past two years, the company has used new airplane orders, buying used private jets, and acquisitions to grow.
Over the past two years, it has added operators Red Wing Aviation and Talon Air in the U.S. The latter came as part of a deal to acquire mega-broker Apollo Jets. It also gave it a foray into aircraft management, announced in July.
Previous acquisitions included XOJet in 2018 and JetSmarter in 2019.
It also launched XO dynamic pricing memberships in Europe and added XO branded midsize aircraft there.
Vista Global $1 billion bond offer
On January 20, 2022, Vista successfully priced an offering of $1 billion of Senior Unsecured Notes. The notes are due 2030 by two of its subsidiaries, VistaJet Malta Finance P.L.C and XO Management Holding, Inc.
The offering was more than five times oversubscribed with exceptional demand from investors. It raised additional liquidity while reducing Vista’s cost of borrowing relative to its existing Senior Notes.
“The accelerated completion and upsizing of our unsecured bond is transformational, demonstrating the clear and strong investor confidence in Vista and providing us with a strong platform to deliver our exciting vision and ambitions,” said Flohr.
The founder offered a bullish outlook. He said, “We expect strong business momentum and sustainable growth throughout 2022 as we remain extremely confident about the future.”
The company noted, “Demand for private aviation is thriving, and Vista does not expect this to change for at least the next 12 to 18 months.”