LONDON, UNITED KINGDOM -- (Marketwired) -- 09/17/14 -- VistaJet -
Editors Note: There is one photo associated with this press release.
Adding three new Bombardier(i) Global(i) aircraft, three Challenger(i) 605(i) jets, and two Challenger 350(i) jets at a total value of US $320 million over the next 30 days
Largest number of wide-body business jets to be delivered by Bombardier to a single customer within a one-month time span
Further 12 aircraft at a total value of US $447.5 million to be added by end of 2014
Growing in-service fleet size to 45 aircraft by end of year as fleet renewal and expansion continues in US, Africa and Asia
Busiest summer to date with volume of flights up 21% year over year for the January to August period
VistaJet, the leading global business aviation company, is adding US $320 million worth of new aircraft to its fleet as part of its on going worldwide expansion strategy. This represents the largest number of wide-body business jets to be delivered by Bombardier to a single customer within a 30-day period.
The eight new jets include three Bombardier Global aircraft valued at US $174 million, as well as three Challenger 605 jets valued at US $93 million, and 2 Challenger 350 jets valued at US $53 million. This is in addition to five Global aircraft added in the first half of the year. VistaJet plans to take delivery of a further 12 jets including three Global 6000(i), four Challenger 350 and five Challenger 605 aircraft at a total value of US $447.5 million, by the end of the fourth quarter.
VistaJet is also pleased to announce that it had its best summer season to date in 2014. The volume of flights is up 21% for the January to August period, and September is on track to be another record month. The Company's 'Think Global' strategy is proceeding per plan. Africa continues to be the VistaJet's fastest growth region. Expansion focus on the US and Asia-Pacific remains a priority with new aircraft being placed in these regions to support increasing demand as capacity is at an all time high. VistaJet's business in Russia and CIS remains strong and the Company is positioned to reach its target revenue growth of 20-25% by year-end.
"We are having an exceptional 2014," said Thomas Flohr, Founder and Chairman of VistaJet. "This profitable growth strategy continues to be funded by strong EBITDA and cash flows. As per our global expansion plan we are making excellent progress in the US and Asia-Pacific. It has been our busiest summer since we launched and I am particularly excited about the remainder of the year.
"Our relationship with Bombardier goes from strength to strength and today is particularly special as never before has a Bombardier customer taken delivery of so many new business jets within such a short period of time. We are committed to invest in industry leading aircraft for our clients and flying the largest and youngest all-Bombardier fleet in the industry," continued Mr. Flohr.
"Congratulations to VistaJet on this impressive delivery and to the teams from both companies that made it happen," said Eric Martel, President, Bombardier Business Aircraft.
VistaJet Recent Order History
November 2012 - VistaJet placed the largest single transaction in the history of business aviation, firm orders for 56 new Bombardier Global aircraft with further options for an additional 86. Total value of approximately US $7.2 billion.
June 2013 - VistaJet placed a firm order for 20 Challenger 350 aircraft with further options for an additional 20. Total value of approximately US $1.7 billion.
January 2014 - VistaJet commitment to lease 10 new Challenger 605 jets with International Aircraft Leasing and Trading (IALT) as part of its Challenger fleet renewal program.
About VistaJet
VistaJet owns and operates the largest privately owned Bombardier business aircraft fleet - over 41 aircraft - the majority of which are large cabin, long-range Global and Challenger jets. Renowned for its consistency around the globe and as the only provider to offer an identical exterior livery and cabin design throughout its fleet, VistaJet's global strategy of connecting its customers to every corner of the world with point-to-point coverage has made it the clear market leader with unparalleled experience flying in to, and out of, the hardest-to-reach destinations. News and information are available a www.vistajet.com.
(i)Either registered or unregistered trademarks of Bombardier inc. or its subsidiaries.
(ii)All aircraft values calculated per 2014 Bombardier Business Aircraft list prices.
To view the photo associated with this press release, please visit the following link: http://www.marketwire.com/library/20140917-VistaJet-4159-GI0386-02-800.jpg
Contacts:
Danielle Boudreau
VistaJet International
+44 (0) 7824144745
danielle.boudreau@vistajet.com
www.vistajet.com
