VistaJet posts another record-breaking quarter
Flight activity and demand at VistaJet is reaching record-breaking levels, quarter-after-quarter in 2021. According to the firm’s chief commercial officer, Ian Moore, it racked up over 9000 flight hours in the third quarter (Q3) 2021.
Speaking at VistaJet’s Bombardier Global 7500 tour at Farnborough Airport, Moore told Corporate Jet Investor rates are going up “dramatically”. Whilst for the end-of-year period customers at VistaJet cannot use on demand services unless they have purchased a 100 hours or more.
“The demand for larger aircrafts that can travel further has accelerated,” said Moore. With demand so high, VistaJet now has four Global 7500s in its fleet. It also has plans in place to add nine more by the end of 2022.
The Global 7500s, registered with VistaJet’s Maltese air operating certificate (AOC), were originally ordered in 2013 when they were little more than a set of drawings from Bombardier. Moore said he is grateful to have taken delivery of the Globals earlier this year as global flight demand has picked up.
The firm is operating significantly above pre-pandemic levels, number of flights up globally was up 35% in Q3 2021 versus Q3 2020 and up 19% on Q3 2019. Moore also noted VistaJet has been seeing a significant increase in demand from China, “despite the lack of travel in that region”.
However there are some issues with industry supply chains, according to Moore. For example, if you were trying to replace the wheel of your aircraft when on the ground in Cairo. Pre-Covid this used to take about 24 hours to be ready. Now it can be anywhere from a week to 10 days.
Moore’s anecdote reflects VistaJet’s US president, Leona Qi’s comments. Speaking to CJI last month, she said: “There’s definitely a supply chain shortage across aviation and I think across many sectors in our economy.”