VistaJet announces another record performance year
VistaJet has announced another record year in 2018, with new members and number of flights up prominently year on year.
The Malta-based company claims to have made significant progress on its core strategic priorities, increasing market share worldwide.
While the Middle East has seen some weakness in the industry, VistaJet’s customer base here seems to be strong, with the number of flights up by 38% and passengers by 24%. The UAE accounted for the majority of flights in the region at 29%, and the number of flight hours at 34%. As Dubai continues to prove a significant global hub, VistaJet plans to open a larger sales office in the region in early 2019.
The company saw new contracts of its flagship Program membership grow by 31% in 2018 and the number of flights increased by 25%. VistaJet’s utilisation grew by 20% across its fleet of over 70 aircraft – now equating to enough hours to fly each aircraft around the world 20 times on average.
Regionally, Europe proved a significant market for corporates and individuals flying privately, accounting for 48% of total VistaJet flights in 2018. New Program Members grew significantly by 105% in the region, with the majority of growth coming from clients based in the UK, which doubled its new contracts.
North America remained a key growth driver for VistaJet and accounted for the largest increase in flights in 2018, with a rise of 46%. To cater for the growing demand from customers in the region, 21% of VistaJet’s global fleet at any given time is in the market.