January 4, 2019
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As it approaches its 15th anniversary and after only four years of operating on the continent, VistaJet has reported that 25 per cent of its customers are now located in North America.
“North America is the biggest market in the world, dwarfing every other market five to ten times over," comments CCO Ian Moore. "The United States offers us our biggest opportunity and is a mature region where we have a large market share to win.
“When we entered the market with our global product, there were a multitude of local domestic carriers that had already been established for over 10 years, and we are proud to have won significant market share since then from both the aircraft ownership and the fractional sectors. Our plan is to continue this growth, and continue to gain in this already saturated space. The outlook is promising and the VistaJet hourly subscription solution seems to be resonating with what the North American market needs now."
The number of aircraft per ultra high net worth individual is considerably higher than in other parts of the world, and the market is more mature. "While we are targeting increased market share in North America, the private aviation market can grow globally and we see potential for VistaJet in regions where we are already established, like Europe," continues Moore.
“I also believe that our Bombardier products fit in exceptionally well in the US, because the cabin design has a lot to offer. The value is clear, and even our competitors have started to add more of the OEM's products onto their fleet, like NetJets for example. What makes a difference is not the brand itself, but the cabin experience, and when our clients board our aircraft and pass the galley they notice the incredible level of sophistication Bombardier can offer.
“Our parent company Vista Global is currently handling the new Bombardier 7500 transactions through Vista Leasing, a new company set up under the Vista Global Holding. It’s a super exciting aircraft and it perfectly fits our business model. The great opportunity for us is that we will have the flexibility to decide and to take as many as we can fit in our business model, following closely our customers’ demands."
As 2019 commences, Moore says that he hopes for the same uptick in new memberships this year and adds that this might require adding more aircraft in the US. "Even in light of the tax breaks on aircraft purchasing, the market is clearly shifting towards an asset-lite model, and that is what we are focusing on," he explains.
“We are excited about 2019 and how we can pass our success on to our customers. We have just introduced a wine club and a children's traveller service for our members called Adventures In The Sky. This has drawn a lot of interest. We want to keep proving that we are not just a vehicle for getting from A to B, but rather an extension of our customers’ lives.
“This approach is certainly resonating well with our US customers, so we will keep consolidating our approach and continue building on what customers want."
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