Nasdaq GlobeNewswire

VistaJet Customers Grow by 50% in the Middle East as the Company Expands Its Reach

Del

The leader in global business aviation increases its offering  to continue positive momentum in the region

  • New Program hours doubled year over year
  • New Program customers rose by 50% year over year
  • Full flying service now available in and out of Saudi Arabia as expansion continues
  • Results follow $150 million investment from Rhône Capital    

DUBAI, United Arab Emirates, Nov. 09, 2017 (GLOBE NEWSWIRE) -- VistaJet, the first and only global aviation company, announces today positive results for the Middle East, highlighting the global trend of individuals and corporations moving away from fractional and full aircraft ownership.

Photos accompanying this announcement are available at

http://www.globenewswire.com/NewsRoom/AttachmentNg/1182a0ac-fee1-471d-ac41-9ed03d694641

http://www.globenewswire.com/NewsRoom/AttachmentNg/40cedebc-6ebd-40d8-9cbd-4a3f858c8472

http://www.globenewswire.com/NewsRoom/AttachmentNg/0dd92375-2b88-455b-af75-9a8311f8f645

Regionally, the company has seen its flagship Program Membership hours double this year, driven by an increase of 50% in the number of its Program customers. With clients buying more hours to meet their flying needs, VistaJet considerably surpasses the overall Middle East business aviation sector's results, which is forecast to realise a 9% growth this year.

To enhance services for its Middle Eastern customers, VistaJet has additionally announced its approval to operate to and from Saudi Arabia, a country that accounts for VistaJet's greatest share of Middle Eastern customers at 39%, followed by the United Arab Emirates with a 30% share, and Qatar, Kuwait and Egypt with 7% respectively. Saudi Arabia has even more potential for growth and as the first and only global operator to abolish positioning fees around the globe, VistaJet will enable its customers to seamlessly connect to and from the country, anytime and anywhere.

The company has visited over 1,600 airports globally and 68 in the Middle East, of which Dubai currently proves favorable for VistaJet customers flying in from Moscow, London, Nice and Mumbai; the highest traffic drivers for the region. The rising importance of private jet travel in the Middle East is characterized by the increase in companies launching their business subsidiaries in the region. With VistaJet's global infrastructure, guaranteed aircraft availability and access to a fleet of over 70 identical large-cabin aircraft, VistaJet is perfectly positioned to deliver further positive results over the coming years.

In the past five years, the Middle East has seen a major shift to corporate use and currently 70% of overall private aviation flights within the region are for business purposes. In addition, superior high levels of service continue to be fundamental for local passengers. VistaJet tailors each flight to its customers' needs; aircraft are able to serve as an office in the sky for customers needing to prepare for meetings and maximize productivity. Additionally, a Cabin Hostess trained by the British Butler Institute on every flight ensures customers receive an exceptional service, from in-flight entertainment to exclusive menus curated by the world's most renowned chefs.

As a result of 13 years of investment and development, VistaJet is one of the most technologically integrated companies in business aviation. This year, the company introduced VistaJet Direct, a new digital membership giving customers priority access to available one-way and empty leg flights via the company's app and website. VistaJet Direct is the first app membership in the industry able to offer a fully integrated end-to-end service for its customers.

Thomas Flohr, VistaJet's Founder and Chairman, stated: "We're delighted to announce today's results as VistaJet continues to provide a valuable proposition for business leaders and an alternative to aircraft ownership. With a growing demand for global travel in the Middle East, we foresee a continued increase in our customer base in the region. We are leading the industry and relentlessly strive to deliver an unparalleled global service to our customers. With our extension to operate in and out of Saudi Arabia, this will further enable business leaders to travel seamlessly throughout the Middle East and to the rest of the world."

Following the $150 million investment from Rhône Capital, valuing VistaJet in excess of $2.5 billion, the company is well placed to capture even more market share by offering global coverage, consistent unparalleled quality and maximum productivity.

About VistaJet 
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 (0) 203 617 3077 
M: +44 (0) 7834 335505 
jennifer.tyler@vistajet.com

James Leviton   
Finsbury  
T: +44 207 251 3851  
VistaJet@finsbury.com   




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
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

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