VistaJet, the world’s premier luxury and fastest growing private aviation company, and which is privately owned, announces that it recorded a strong operational and financial performance in 2009 and has the platform in place for further growth in 2010.
- Flight-related revenue up in year ending 31 December 2009
- Top-line growth translating into profitable growth
- EBITDA, as a proxy for cashflows, has seen a marked improvement with double-digit growth from the prior year
- Success driven by providing customers with clear and practical offering: combining ultimate luxury with simple, tailored Program solutions via its proprietary Partnership Model
- Fleet expanded to 25 aircraft, up 30%; further deliveries during 2010
- Exceeded 16,500 pax with over 7,250 flight movements
- Merger of service areas to provide fully integrated offering
- Expansion into new territories with dedicated aircraft
- Investing in major recruitment initiative including further development of the Management and Operations team: recent appointments bring strong industry experience
- Agreement with Flexjet to provide streamlined global private aviation service from the world’s leading aviation companies.
Thomas Flohr, Chairman and Founder of VistaJet said, “This was an exceptional performance, particularly in view of the challenging economic environment we faced. I am especially pleased that VistaJet can claim to be one of the very few aviation companies anywhere in the world that was profitable in 2009.”
VistaJet announces that it recorded a strong operational and financial performance in 2009. Revenues were up 20% on the prior year.
Reflecting his own confidence in VistaJet and its future, Thomas Flohr, the Company’s sole shareholder, recently initiated a major debt for equity conversion in a move that also further underlines his long-term commitment to the business.
Thomas Flohr, Chairman and Founder of VistaJet added, “VistaJet is well capitalised and has a robust balance sheet. Along with the strong support of our lending banks, we are in an excellent position to take the Company to the next stage of its strategic plan.”
During the year, the VistaJet fleet increased from 19 to 25 aircraft and today comprises a range from the Learjet 40 to Global Express XRS.
The Company has several aircraft on order and expects to take delivery of up to five more during 2010. Deliveries during the year will include two new Bombardier Challenger 850 and a Global Express XRS to service VistaJet’s growing customer base in Europe, the Middle East and Asia. VistaJet’s Challenger 850 offers the same cabin size, floor plan, and luxury appointments as the VistaJet Global Express XRS over a range of five to six hours. The Global Express XRS is the largest and most comfortable private jet available, capable of flying faster and farther than any other.
Building on its position as the world’s premier luxury private aviation company, the Company regards product development as a key business driver. Alongside its major investment in new aircraft, the Company is even further enhancing the luxury experience of its customers.
Thomas Flohr, Chairman and Founder of VistaJet concluded , “To maintain our cutting edge, we cannot stand still. Our investment will ensure that flying on VistaJet will continue to be synonymous with the ultimate in luxury.”
VistaJet’s rapid development as a leading private aviation company was reinforced earlier this year with the announcement that it has entered into partnership with Flexjet and Jet Solutions to allow each other’s customers guaranteed reciprocal access to flights across Europe, the Middle East, Asia and the US. Through the new agreement, Flexjet, Jet Solutions and VistaJet customers now have access to an expanded, streamlined global private aviation service allowing customers easy access to multiple destinations across the globe with the added benefit of preferred rates.