Vista announces record sales for Q2
Vista Global has reported double digit growth in the first half of 2022, with VistaJet having sold 27% more programme hours in the first six months of the year compared to the full pre-pandemic year 2019.
Vista said its growth was primarily due to a 43% year-on-year increase in its subscription members. VistaJet’s subscription programme reached an all-time high, with a 25% increase in members, contributing to a 76% growth in gross programme hours sold in the first half of the year compared to the same time last year.
“Contract sizes continue to grow as clients add hours to fulfil their flying requirements around the world,” said Thomas Flohr, founder and chairman, Vista (pictured). “Vista’s trusted brands, shared economy model, asset light offerings away from full or fractional ownership and proprietary technology create superior client value and elevated end-to-end experience.”
Regionally, North America accounted for approximately half of VistaJet’s programme revenue, with sales more than doubling due to existing clients adding hours and new client sign-ups. Europe’s flight activity and revenue more than doubled year-on-year, making it the group’s fastest growing region despite geopolitical uncertainty. Activity in Asia picked up with a 77% increase in hours sold, while a 60% rise in hours sold in the Middle East was driven by existing clients buying more hours.
During the first six months of the year, Vista added over 100 aircraft to its fleet through its acquisitions of Air Hamburg and Jet Edge, bringing its total fleet up to more than 350 in comparison to around 200 in 2021. “With these investments, Vista clients have access to a larger team of experts, and a greater range of aircraft and availability,” said Flohr. “Air Hamburg expands our scale in Europe and the Middle East, while Jet Edge significantly scales up Vista’s US presence.” Flohr previously told Corporate Jet Investor exclusively that he is “continuing to look at other opportunities for acquisitions”.
The half-year results follow a record-breaking year for the group in 2021, where Vista’s subscription solutions and services increased by 59%, and an increase in year-on-year flight hours of 64%, representing a 57% rise on pre-pandemic levels.
Last month, VistaJet expanded its members-only experience offering, Private World, by partnering with a total of 595 travel and brand companies.