VistaJet is celebrating the milestone of operating more than 100,000 flights since its launch in 2004, and reports that some 40 per cent of new business is coming from former aircraft owners and fractional ownership programme members.

The company took on 15 factory-new business jets in 2016 to meet this growing demand, increasing the fleet by over a quarter, and says it has now connected 250,000 passengers to over 1,600 airports in 187 countries.

This growth is expected to continue as a rising number of millennials enter the business aviation market and look to participate in a “shared economy” trend rather than owning a depreciating asset. Among the new customers were principals as young as 25, and major technology companies purchasing more than 400 flight hours for their executives to fly worldwide.

The operator offers a bespoke solution aimed at individuals and corporations flying from 50 to over 1,000 hours per year, under the VistaJet Program brand. Customers enrolled in this now account for the majority of the company's business, and benefit from guaranteed access anytime and anywhere to the global fleet.

Among its 71 business jets, VistaJet now counts the largest privately owned Global 6000 and Challenger 350 fleet in the world. In 2016 the company moved its global headquarters to growing European business hub Malta, while expanding its offices in key cities such as Los Angeles, New York City, Hong Kong, Seoul and Lisbon.

Chairman and founder Thomas Flohr says: “What we're seeing is that due to broader uncertainty and changing attitudes to ownership, while entrepreneurs and corpor-ations want the flexibility and convenience of using a business aircraft, they don't want the asset risk or the up-front costs. Celebrating our 100,000th flight is a real indication that customers have found the answers they are looking for in our business model. We have invested in our fleet, our people and our global infrastructure, to offer an unmatched service.

“We pride ourselves on providing the support and resources companies need to do business. Whether that is organising complex trips to multiple remote destinations or arranging for meetings to take place in-flight, regardless of where in the world they are, we are there for our customers when they need us.”