VistaJet helps cement ‘positive outlook’ at Vista Global
VistaJet enjoyed a record breaking 2020, as on-demand service bookings grew 15% year-on-year (YoY). The company also saw an increase of 29% globally in new subscription memberships (YoY). Detailed in Vista Global’s 2021 market update, the performance among others, showcased “a positive outlook against a challenging global backdrop”.
The company expects demand continue to grow from both corporate and first-time fliers. VistaJet is growing across major markets, with Europe registering the greatest levels of activity, accounting for 46% of total flights and North America 26%. In Asia, strong demand was recorded for flights in and out of China, which accounted for 28% of flights across the Asian region, and the United Arab Emirates accounted for 34% of flights across the Middle East.
XO, Vista Global’s on demand technology platform, recorded a three-fold surge in new client memberships in 2020, with each making an average deposit of $100,000, guaranteeing future flying. XO also reported record flight hours in 2020, up 6% YoY.
Following XO’s launch of a light jet fleet in November last year, increasing its dedicated aircraft by 30%, the operator saw large growth, with the number of flights up 39% in December alone.
Thomas Flohr, Vista Global founder and chairman, said: “We are entering 2021 with optimism and grounded positivity following the unprecedented events of 2020. It is a pivotal and exciting time in our sector and I am extremely aware of the critical, growing role private aviation will play as part of the global economy for years to come.
“Ensuring the complete safety and security of passengers and Vista Global team members remains of paramount importance. There is growing confidence across corporate members from all the major regions and the asset-light provision of global mobility will be critical to seizing new opportunities to fuel recovery.”
Digital solutions are an ever increasing demand according to the group. In response to what it calls “the seismic changes in market and customer demands”, Vista Global has taken the opportunity to expand its global services to its membership base. In October 2020, VistaJet launched its Dynamic Corporate Membership, offering a flexible, low commitment travel solution for c-suite flyers.
It also plans to launch a series of new products and upgrades to its dedicated fleet as well as dedicated shuttle routes across 2021. As well as the launch of VistaJet Private World.
VistaJet is also making a point to lobby the industry to move forward the push for sustainability within private aviation. The firm has also partnered with SkyNRG and reaffirmed its Sustainability in Aviation pledges.
At a glance:
29% increase in new VistaJet Program subscription memberships — the fastest rate since the company’s foundation — with members increasingly requiring guaranteed access to flights 24/7 with its global platform
A record-breaking year for VistaJet’s On Demand services with an acceleration in bookings of 15%
Surge in new XO Members — membership up 240% in 2020
The group maintains very strong cash generation
Pioneering sustainability in private aviation.