VistaJet Logs Record Gains in Third Quarter

 - November 29, 2017, 12:55 PM

VistaJet recently recorded the highest third quarter revenue in its history with a 38 percent jump, the global business jet operator reported. These gains came as the company saw a 32 percent increase in new membership program flight hours flown in the third quarter.

North America was a “core driver” in the growth of the company’s membership program, with a 25 percent increase in U.S.-based customers in the third quarter, the company said. Flight hours from North America were up 22 percent.

All of this contributed to a 24 percent increase in EBITDA in the third quarter, VistaJet added.

“Today's record results are yet another milestone in VistaJet's history and prove the global demand for our unique model and ability to shake up the business aviation industry,” said Thomas Flohr, VistaJet founder and chairman. "I am also extremely pleased with the continued growth we are making in the U.S., the largest business market in the world."

VistaJet announced its entrance in the U.S. market in late 2013 through a partnership with Jet Aviation, which operates the U.S. fleet.

The company made gains in the third quarter as it strengthened its underlying financial position through a $150 million investment form Rhône Capital that was announced in August.