VistaJet, the leading global business aviation company, is adding US $320 million worth of new aircraft to its fleet as part of its on going worldwide expansion strategy. This represents the largest number of wide-body business jets to be delivered by Bombardier to a single customer within a 30-day period.
The eight new jets include three Bombardier Global aircraft valued at US $174 million, as well as three Challenger 605 jets valued at US $93 million, and 2 Challenger 350 jets valued at US $53 million. This is in addition to five Global aircraft added in the first half of the year. VistaJet plans to take delivery of a further 12 jets including three Global 6000*, four Challenger 350 and five Challenger 605 aircraft at a total value of US $447.5 million, by the end of the fourth quarter.
VistaJet is also pleased to announce that it had its best summer season to date in 2014. The volume of flights is up 21% for the January to August period, and September is on track to be another record month. The Company’s ‘Think Global’ strategy is proceeding per plan. Africa continues to be the VistaJet’s fastest growth region. Expansion focus on the US and Asia-Pacific remains a priority with new aircraft being placed in these regions to support increasing demand as capacity is at an all time high. VistaJet’s business in Russia and CIS remains strong and the Company is positioned to reach its target revenue growth of 20-25% by year-end.
Thomas Flohr, Founder and Chairman of VistaJet said, “We are having an exceptional 2014… This profitable growth strategy continues to be funded by strong EBITDA and cash flows. As per our global expansion plan we are making excellent progress in the US and Asia-Pacific. It has been our busiest summer since we launched and I am particularly excited about the remainder of the year. Our relationship with Bombardier goes from strength to strength and today is particularly special as never before has a Bombardier customer taken delivery of so many new business jets within such a short period of time. We are committed to invest in industry leading aircraft for our clients and flying the largest and youngest all-Bombardier fleet in the industry.”
Éric Martel, President of Bombardier Business Aircraft added, “Congratulations to VistaJet on this impressive delivery and to the teams from both companies that made it happen.”
*Either registered or unregistered trademarks of Bombardier inc. or its subsidiaries.
**All aircraft values calculated per 2014 Bombardier Business Aircraft list prices.
