VistaJet Consolidates Its Global Leading Position and Grows 22% in 2017
The global aviation company is well placed to seize even larger market share in 2018
Key highlights for full year ending 31 December 2017:
- Flight revenue up 22%
- EBITDA up 28%
Particularly strong results in U.S. with flight hours up 39%
NEW YORK, April 30, 2018 (GLOBE NEWSWIRE) -- VistaJet today, after concluding its annual audit, announced its results for Fiscal Year 2017. The Company, with operations based in Malta, delivered another incredibly strong performance consolidating its leading position globally, with flight revenue rising by 22% driven by the continued popularity of its unique and compelling subscription business model, and the broader trends in the market. It also saw its EBITDA rise by 28% on the back of its scalable infrastructure and technological advantage. The performance is in line with the upward trajectory VistaJet has experienced since it was founded, recording year-on-year organic compounded revenue growth of over 18% between 2008 and 2017.
Due to its global platform, VistaJet's diverse and broad customer base means that it is largely protected from political or economic uncertainty in any one market, and can benefit from positive economic results in each region. This was further demonstrated in 2017, as VistaJet saw growth in flight hours in all of its core markets, significant outperforming the overall market place. THE U.S. spearheaded this expansion, with +39% growth.
VistaJet continues to be the only business in the sector to offer a complete global portfolio of flight solutions, thanks to its Program, Direct and On Demand services*. This comprehensive product offering allows the company to offer tailorded solutions to each and every business jet user, anywhere, anytime, globally.
Thomas Flohr, VistaJet's Founder and Chairman, said:
"2017 has been another record year. Along with taking market share from full and fractional ownership in all the core markets, including the largest market in the world - the U.S., we reinforced our position as the brand of choice for the world's leading business leaders and entrepreneurs. In the last twelve months, we have flown more Chief Executives and Chairmen to more destinations than we ever have before.
Our strategy, both in terms of geography and services, is working. We continue to see sustainable growth across our business, and retain the ability to adapt our offer to meet demand in every region. It's particularly pleasing to see our entire portfolio of flight solutions reporting growth last year.
We head into 2018 in a fantastic position. Our unique fleet and technology platform ideally places us to lead the market and seize any new opportunities. We are committed to becoming the No.1 player in every market in which we operate, and we are on course to make fast progress towards that goal over the next twelve months."
The market as a whole has proved resilient over the past decade, recording consistent single-digit growth. This trend continued in 2017, as the global market grew by 5%, aircraft utilization has returned to levels not seen since the recession, and the number of hours is now at its highest level since 2008.
In addition, there are a number of macrotrends supporting VistaJet's position in the market palce. A strong move away from asset ownership is now fully in force on every continent. Furthermore, the competitive global economic landscape demands business jets to be available anywhere at a moment's notice.
VistaJet is ideally placed for further long-term, sustainable growth. VistaJet one of the most technologically integrated companies in business aviation, providing customers with a seamless experience. The Company's proprietary infrastructure also allows VistaJet to scale the business much further and in the most cost effective way for its clients.
* VistaJet offers a complete portfolio of flight solutions - Program, Direct and On Demand:
- Program: VistaJet's Program is the flight-hour subscription plan tailored around each corporation or individual's flying requirements, offering guaranteed access to the entire fleet, anytime and anywhere in the world.
- Direct: The fastest way to start flying VistaJet. Customers can request a flight directly through the VistaJet app and the 24/7 sales team. Direct also grants access to preferential rates on empty legs and one-way flights, based on aircraft availability.
- On Demand: For discerning travelers who fly occasionally, VistaJet offers ad hoc flights based on availability.
VistaJet Press Contact:
Jennifer Farquhar | M: +44 7834 335505 | firstname.lastname@example.org
VistaJet is the first and only global aviation company. On its fleet of over 70 silver and red business jets, VistaJet has flown corporations, governments and private clients to 187 countries, covering 96% of the world. Founded in 2004 by Thomas Flohr, the company pioneered an innovative business model where customers have access to an entire fleet whilst paying only for the hours they fly, free of the responsibilities and asset risks linked to aircraft ownership. VistaJet's signature Program membership offers customers a bespoke subscription of flight hours on its fleet of mid and long-range jets, to fly them anytime, anywhere. Customers can also request Direct one-off flights through the industry's first end-to-end booking app or a 24/7 global team.
More VistaJet information and news at vistajet.com
A photo accompanying this announcement is available at http://resource.globenewswire.com/Resource/Download/a1294a76-d325-481b-af56-a2a69fb795cf
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
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Følg saker fra GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra GlobeNewswire
Bio-Fence announces a breakthrough in Food Safety18.1.2019 08:11 | Pressemelding
The company have successfully completed a field trial of its new anti-microbial coating technology. The trials demonstrated a significant reduction in bacterial contamination during sensitive food production processes ASHDOD, Israel, Jan. 18, 2019 (GLOBE NEWSWIRE) -- Bio-Fence innovating coating technology announced today the successful completion of an intensive field trial on its innovative anti-microbial technology Pentagon. The trial was held in "Milouoff" (http://www.milouoff.co.il), one of the largest Ready to Eat poultry production sites in Israel and demonstrated superior results for Bio-Fence technology compared to alternatives. According to Mrs. Shiran Davidi, QA manager at Milouoff: “Bio-Fence technology seems to have clear benefits over existing antimicrobial solution. It is safe, highly potent and rechargeable.” The trial involved monitoring the performance of an epoxy floor coated with Bio-Fence anti-microbial technology compared to either commercial Silver Ion coating an
ERYTECH Presents TRYbeCA-1 Trial-in-Progress Poster at the 2019 ASCO GI Annual Meeting18.1.2019 07:00 | Pressemelding
LYON, France and CAMBRIDGE, Mass., Jan. 18, 2019 (GLOBE NEWSWIRE) -- ERYTECH Pharma (Euronext Paris: ERYP - Nasdaq: ERYP), a clinical-stage biopharmaceutical company developing innovative therapies by encapsulating drug substances inside red blood cells, announced that a poster entitled “TRYbeCA-1: A randomized, phase 3 study of eryaspase in combination with chemotherapy versus chemotherapy alone as second-line treatment in patients with pancreatic adenocarcinoma (NCT03665441)” will be presented today at the 2019 American Society of Clinical Oncology (ASCO) Annual Meeting in San Francisco. The poster (Abstract # TPS471) will be available at www.erytech.com after presentation at the conference. In September 2018, the TRYbeCA-1 trial was initiated. The Trial-in-Progress poster will provide an update on the study progress with investigators sites that have been initiated in multiple countries and actively recruiting patients. The trial is planned to enroll approximately 500 patients with
Fossil Group Enters Agreement To Sell Select Smartwatch Technology To Google17.1.2019 18:30 | Pressemelding
Transaction Unlocks Growth Opportunities for Fossil Group’s Wearables Business RICHARDSON, Texas, Jan. 17, 2019 (GLOBE NEWSWIRE) -- Today, Fossil Group (NASDAQ:FOSL) announced its plan to sell to Google for $40 million intellectual property (IP) related to a smartwatch technology currently under development by Fossil Group. As part of the transaction, a portion of Fossil Group’s research and development (R&D) team currently supporting the transferring IP will join Google. Fossil Group retains more than 200 R&D team members to focus on innovation and product development. The transaction showcases Fossil Group and Google’s shared investment in the wearables industry. In recent years, smartwatches have become Fossil Group’s fastest growing category. The company successfully developed and launched smartwatches across 14 of its owned and licensed brands. “Fossil Group has experienced significant success in its wearables business by focusing on product design and development informed by our
Calgon Carbon Corporation Announces Global Price Increase17.1.2019 17:16 | Pressemelding
Pittsburgh, PA, Jan. 17, 2019 (GLOBE NEWSWIRE) -- Calgon Carbon Corporation today announced a global price increase, effective February 1, 2019, where contracts permit, on all activated carbon products and related equipment due to a continued escalation in raw material costs and transportation expenses. The increase is expected to range between 10-15%, depending on the specific product, raw material type, services provided, and global market dynamics. The primary raw materials used for producing activated carbon are coal, coconut shell, and wood, each of which has gone up in price. Additionally, costs associated with both operating manufacturing facilities and transporting materials have also escalated. “Calgon Carbon’s raw material costs have increased significantly. Despite every effort to offset these increases through continuous improvements, the recent rise in raw material costs has exceeded our efforts,” said Jim Coccagno, Chief Commercial Officer for Calgon Carbon Corporation. “
Taconic Biosciences’ Animals Complete Most Recent Mission to the International Space Station17.1.2019 15:29 | Pressemelding
RENSSELAER, N.Y., Jan. 17, 2019 (GLOBE NEWSWIRE) -- Taconic Biosciences, a global leader in providing genetically engineered rodent model solutions, announces the completion of a recent mission to the International Space Station. This project represents a collaboration between the International Space Station (ISS) National Lab, National Aeronautics and Space Administration (NASA), Bioserve Space Technologies with support from the Leidos Corporation, and Taconic. Taconic has participated in several spaceflight missions with NASA since 1985. Most recently, as part of the science and research investigation payloads supported by the SpaceX Commercial Resupply Services missions, Taconic prepared mice to live aboard the International Space Station for extended periods. Previous spaceflight studies demonstrated that mice undergo rapid loss of muscle and bone mass, resembling accelerated aging. Therefore, mice exposed to microgravity via spaceflight are a valuable model to understand and devel
MPP Global Bridges the Innovation Gap by Centralising Physical and Digital Subscriber Management and Billing in a Single Cloud Platform17.1.2019 12:29 | Pressemelding
WARRINGTON, UK, Jan. 17, 2019 (GLOBE NEWSWIRE) -- MPP Global, the technology company that delivers eSuite, the world’s smartest subscriber management & billing platform, announces the launch of pivotal new functionality which enables media organisations to seamlessly create and manage the sale of physical subscriptions. This positions eSuite as the complete physical and digital subscription management solution. The development of this industry-first functionality was borne out of the common challenge for publishers when managing multiple systems for deploying bundled print and digital subscriptions. This is inflexible for publishers and limits choice for their customers, restricting the ability to seamlessly create and offer digital and print subscription bundles. Despite increased consumer uptake of digital subscriptions, print still accounts for almost 90% of circulation revenues globally. To drive reader revenues successfully, publishers require functionality to execute complementar