VistaJet Accelerates Growth and Continues to Disrupt Business Aviation With Its Program Membership
5.7.2017 11:33 | NASDAQ OMX
Program Membership sales up a record 57% and customer retention hits 91%
LONDON, July 05, 2017 (GLOBE NEWSWIRE) -- VistaJet registers yet another record growth quarter, after reaching global scale with the completion of its investment plan.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/bb476fcc-546a-4301-894f-103122b07f8e
For the 3 months to 30th June:
- +51% total flight-hours sold year-on-year in Q2 2017
- Program Membership revenue achieves record 63% of total revenue (up from 55% in the previous quarter)
- Average aircraft utilisation rate increases by 11% compared to the preceding quarter Q1 2017
For the 6 months to 30th June:
- Market-leading customer retention rate of 91% recorded
- Program Membership sales up 57% year-on-year, across all regions
- Strong momentum to continue into the third quarter, historically VistaJet's busiest period
VistaJet continues to gain market share in all regions around the globe in the first half of 2017 as it disrupts traditional full and fractional business aviation with its sector-leading offer, strengthening the company's reputation for a relentless focus on unparalleled customer experience, in addition to its unique business model.
VistaJet's Program Membership represented 63% of revenues in the second quarter. Growth has continued to accelerate as increasing numbers of large corporations and high-net-worth-individuals recognise the benefits of the Program's asset free solution. 37% of new hours sold in the first half of the year were generated from add-ons, compared to just 16% during the same time in 2016. Demand is being further supported by VistaJet's recent abolition of any positioning fees, a revolutionary new offer enabled by its industry leading technology investments and globally available aircraft, and one which further emphasises its commitment to transparent pricing.
The company has also improved on its already high client retention rate, which rose to 91%, further securing its future contracted revenues. Renewal hours more than trebled in the first half of the year, with the number of new Program customers increasing by 61% compared to the same time period last year due to its focus on unique customer benefits. VistaJet now stands at 6,000 new annual subscription hours sold in H1 2017.
The US continues to represent a significant area of growth for the business. 59% of customers in this region who bought hours in 2016 have since added hours and flight hours are expected to accelerate further as the year progresses, as more and more customers discover the benefits of VistaJet's unique offer. VistaJet growing penetration in the largest business aviation market in the world has been fuelled by positive feedback from its new customers, with many recommending VistaJet to their peers for its level of service and ground breaking business offer.
In its more mature markets, VistaJet continues to see market share gains, reinforcing its position as the operator of choice for expanding multinationals. European demand has further benefited from the overall improvement in the economic environment, and with more companies seeking to invest and explore opportunities all over the world.
This is an exciting new period of customer growth for the business. With a fleet of over 70 identical and fully owned aircraft, and a comprehensively stable cost base, VistaJet gains the benefits of the strategic investments made over the past few years and has still the capacity to nearly double its sales with its existing fleet.
Chairman and Founder Thomas Flohr said: "We have spent 13 years building up a world class fleet and unsurpassed global offering, and I want to thank everyone involved in the business for their hard work and commitment to serve our clients. Our impressive performance is the proof that customers have embraced our unique model. We look forward to continuing to shake up the business aviation industry to offer our customers the true alternative to full and fractional aircraft ownership without compromise."
VistaJet is the first and only global aviation company. On its fleet of silver and red business jets, VistaJet has flown corporations, governments and private clients to 187 countries worldwide. Founded in 2004 by Thomas Flohr, the company pioneered an innovative business model where customers pay only for the hours they fly, free of the responsibilities and asset risks linked to aircraft ownership. VistaJet's signature Program service offers customers a bespoke subscription of flight hours on its fleet of mid and long range jets, to fly them anywhere and at any time.
More VistaJet information and news at vistajet.com.
Information Jennifer Tyler VistaJet International T: +44 203 617 3077 M: +44 7834 335505 email@example.com James Leviton Finsbury T: +44 207 251 3851 VistaJet@finsbury.com
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: VistaJet Ltd via Globenewswire
Om NASDAQ OMX
NASDAQ OMX (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra NASDAQ OMX
Registrer deg med din epostadresse under for å få de nyeste sakene fra NASDAQ OMX på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra NASDAQ OMX
REG Celebrates Completion of Upgrade Project at Emden Biorefinery20.7.2017 19:46 | Pressemelding
EMDEN, Germany, July 20, 2017 (GLOBE NEWSWIRE) -- Renewable Energy Group, Inc. (NASDAQ:REGI) marked the completion of upgrades at its Emden, Germany biorefinery Wednesday with a ribbon cutting ceremony with government and community members. REG invested 2.5 million € for the installation of a new biodiesel distillation column and a thermal oil heater. "This investment is another milestone in REG's European strategy to be a leader in delivering high quality biofuels," said Jean Scemama, Vice President, REG Energy Europe. "Within this strategy, Emden is positioned to perform well with deep water access to receive and deliver products by vessel and can now meet or exceed the highest quality standards required by our customers." "This project is a result of teamwork across REG's teams in Europe and the U.S." said Brad Albin, Vice President, Manufacturing. "Upgrading Emden's distillation capability enables us to more effe
Constellation Brands Elects Susan Somersille Johnson of SunTrust Banks, Inc. to its Board of Directors20.7.2017 15:38 | Pressemelding
VICTOR, N.Y., July 20, 2017 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE:STZ) (NYSE:STZ.B), a leading beverage alcohol company, announced today that its board of directors increased the size of the board from 10 to 11 members. In addition, the board elected Susan Somersille Johnson, corporate executive vice president and chief marketing officer of SunTrust Banks, Inc., to serve as a member of the board, effective as of the close of business on July 18, 2017. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/dfad4ec0-c876-49e9-9ff4-bc9f803b7cb1 "We're pleased to welcome Susan to the board of directors," said Constellation's Chairman of the Board Richard Sands. "Susan's deep understanding of brand strategy and marketing, as well as her passion for technology, will make a great addition to Constellation as we continue to build on the existing strengths of our board and the compan
Appian Extends its Capabilities with a New Robotic Digital Workforce Offering20.7.2017 15:00 | Pressemelding
Appian RPA with Blue Prism Brings Together Leading Business Process Management, Low-Code Application Development, and Robotic Process Automation (RPA) RESTON, Va., July 20, 2017 (GLOBE NEWSWIRE) -- Appian, (NASDAQ:APPN), a leading global provider of low-code application development and BPM software, today announced the addition of Blue Prism's industry leading Robotic Process Automation (RPA) capabilities to its platform. The new product offering, Appian RPA with Blue Prism, brings together leading low-code application development, BPM, and robotic workforce software for the first time as an offering from a single vendor. This offering builds on an already well-established partnership while giving organizations a one-stop-shop for all their enterprise automation needs, especially those that require the highest levels of auditing, security and scalability. "Appian's platform is now extended with robotic process automation from Blue Prism," said Matt
Jennifer Powers to join Global Infrastructure Partners as a Partner and Chair of GIP's Credit Business19.7.2017 18:16 | Pressemelding
For Immediate Release New York, July 19, 2017 (GLOBE NEWSWIRE) -- Global Infrastructure Partners (GIP), the leading, independent global infrastructure investment firm, announced today that Jennifer Powers will join GIP in September as a Partner and Chair of GIP's Credit Business. Ms. Powers will work closely with GIP Partner Jon Bram and GIP CAPS Fund Managing Partners Reiner Boehning and Steve Cheng to build out and expand GIP's Credit Business into a market leader in providing financing for infrastructure assets and projects. Ms. Powers joins GIP from Mizuho Bank where she was co-head of Investment Grade Debt Capital Markets. Prior to Mizuho, she was a founding member of the Royal Bank of Scotland's Credit Markets Business. Ms. Powers also spent 12 years in the energy investment banking and capital markets departments of Credit Suisse. Ms. Powers has extensive experience in advising and financing clients in the energy and infr
Solar Street Lights Illuminate Bujumbura, Burundi19.7.2017 16:10 | Pressemelding
Solar Pioneer Gigawatt Global Expands its Green Energy Offerings in Africa "By expanding our investments from commercial scale projects to include off-grid additionally, we are positively impacting the lives of millions of people in Burundi and throughout Africa" - Yosef I. Abramowitz, CEO, Gigawatt Global BUJUMBURA, Burundi, July 19, 2017 (GLOBE NEWSWIRE) -- Downtown Bujumbura just got a little brighter, thanks to an innovative partnership between Mayor Freddy MBONIMPA and Gigawatt Global (http://GigawattGlobal.com), a founding member of United States Power Africa's Beyond the Grid program. [Access multimedia content here: http://APO.af/ePScuQ/ http://APO.af/xxruhc/ http://APO.af/gdfypU/ http://APO.af/Xpw3uh ] This week solar-powered 'light islands' began appearing in the heavily-trafficked central bus station and
Datalliance Enhances Cloud-based Supply Chain Platform19.7.2017 15:00 | Pressemelding
Manufacturers of Consumer and Industrial Products gain Increased Replenishment Efficiency CINCINNATI, July 19, 2017 (GLOBE NEWSWIRE) -- Datalliance's latest update to its cloud-based Vendor Managed Inventory (VMI) platform makes it easier for manufacturers of consumer or industrial products to manage inventory replenishment for retailers and distributors. These enhancements - driven by feedback from its global user base and Datalliance's vision for the future of VMI - focus on making the user-experience even more flexible and intuitive. Because the Datalliance VMI platform is cloud-based, these upgrades are available for immediate use by Datalliance customers and their trading partners. Datalliance releases all platform-wide updates at no cost, and there's never a need to install or download software updates. This is the second of three major releases Datalliance plans for the year. Since Datalliance's founding, more than 50 releases have been delivered. Hig
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom