Business aviation services company VistaJet logged a 31 percent increase in new members and saw a 25 percent jump in its global operations last year, the company reported today. VistaJet marked the record year as it celebrates its 15th year in the industry and prepares for even further growth in 2019.
VistaJet saw utilization of its fleet of more than 70 long-range Bombardier jets climb by 20 percent, the company said, adding the hours equate to each aircraft flying around the world 20 times on average. Operations jumped 46 percent year-over-year in North America alone, while Europe has become a key market, accounting for 48 percent of all VistaJet flights. New members in Europe grew by 105 percent, thanks in part to a doubling of the client base in the UK. Flights ticked up 38 percent in the Middle East, with the UAE accounting for 29 percent of these flights and 34 percent of flight hours.
The positive results also came as the Malta-based company realigned its operations last year as part of Vista Global Holding and aligned with U.S. based carrier XOJet. Under its new umbrella, the operator is part of a global network of 116 business jets.
“2018 was a further milestone year for VistaJet. Despite increasing economic and geopolitical headwinds, we anticipate resilience across our customer base for 2019,” said VistaJet founder and chairman Thomas Flohr. “As the world’s largest wealth region with more than 34 percent of the globe’s UHNWI, we foresee the greatest growth opportunity to continue in the U.S. Now as part of Vista Global, VistaJet will be supported by XOJet to further service this strong market.”
In addition, VistaJet is planning to expand in the Middle East with the opening of a larger sales office in Dubai this month.