Investment funds affiliated with Rhône Capital have pumped another $150 million of funding into VistaJet, taking Rhône's full stake in the membership air charter firm to $200 million, the companies announced today. VistaJet’s equity, including all outside financing, now exceeds $2.5 billion, it claimed.
“With the investment announced today…and our fully scalable technology-driven business model, VistaJet is ideally placed to take advantage of the opportunities to shape the market as it further develops in the years to come,” said VistaJet founder and chairman Thomas Flohr.
The company’s all-Bombardier fleet now includes more than 70 wholly owned aircraft, including Challenger 350s, 605s and 850s, as well as Global 5000s and 6000s. Earlier this year, it introduced VistaJet Direct, a digital membership that gives customers priority access to available one-way and empty-leg flights via the company's app and website.
In the first half of this year, VistaJet’s profits climbed 32 percent year-over-year as subscription program hour sales surged 51 percent and program membership revenue soared 63 percent. It also reported a 91 percent customer-retention rate of in the first half.
Jefferies LLC acted as the financial advisor to VistaJet in connection with the transaction, while Linklaters provided legal representation to VistaJet and Flohr.