BAN's World GazetteerCanada
VistaJet is adding US$320 million worth of new aircraft to its fleet as part of its worldwide expansion strategy. This represents the largest number of widebody business jets to be delivered by Bombardier to a single customer in a 30-day period.
The eight jets include three Global aircraft valued at US$174m, as well as three Challenger 605s valued at US$93m, and two Challenger 350s valued at US$53m. This order 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 6000s, four Challenger 350s and five Challenger 605 aircraft at a total value of US$447.5m, by the end of the fourth quarter.
The company is also reporting this year as its best summer season to date. The volume of flights is up 21 per cent for the January to August period, and September is on track to be another record month. Africa continues to be its fastest growth region, and 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 per cent by the end of the year.
Founder and chairman Thomas Flohr says: “This profitable growth strategy continues to be funded by strong earnings 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 excited about the remainder of the year.”