Vista Global, the private aviation group founded by Thomas Flohr, has provided a 2021 market update and overview of its companies' 2020 performance and core strategic priorities, showcasing a positive outlook against a challenging global backdrop.
During 2020, VistaJet saw an increase of 29 per cent globally in new subscription memberships year-on-year, with Europe accounting for 43 per cent of new members, North America 25 per cent, Asia 18 per cent and the Middle East 10 per cent. It was also a record year for VistaJet's on-demand services, with bookings growing substantially at over 15 per cent year-on-year. The company expects to see a continuation in this increase in demand from both corporate and first-time fliers wanting to conduct travel safely and without delays across the globe.
VistaJet is rapidly accelerating its growth in market share across all major markets. Global flight levels during 2020 remained healthy, despite the challenging and uncertain conditions around the world. Figures show that Europe registered the greatest number of flights, accounting for 46 per cent of total flights, and North America 26 per cent. In Asia, strong demand was recorded for flights in and out of China, which accounted for 28 per cent of flights across the region, and the UAE accounted for 34 per cent of flights across the Middle East.
XO, the group's on-demand technology platform, recorded a surge in new client memberships of more than three times in 2020, with each depositing an average of $100,000 deposit, guaranteeing future flying. The company also recorded record flight hours in 2020, up six per cent year-on-year.
Following XO's launch of a light jet fleet in November 2020, increasing its dedicated aircraft by 30 per cent, the operator of the aircraft saw extraordinary growth, with the number of flights up 39 per cent in December alone.
Vista Global is confident of further significant subscription membership growth. The group's highly generative cash model and the financial decisions made through 2020 have resulted in a robust liquidity position, with broad access to capital, to be able to support its growth plans.
The pandemic has demonstrated a demand for business aviation as a safer and more reliable alternative to commercial flying. Supporting passengers and their businesses with a global infrastructure during 2021 will be paramount as customers are increasingly requiring safety and guaranteed access to travel services across the globe. VistaJet says its commitment to guaranteeing 24/7 availability and flexibility to fliers anywhere, anytime via its floating fleet has been a core differentiator throughout the pandemic and drove customers' preference, while XO's technology platform provides instant booking solutions and opened access to the jet market in an unprecedented way.
Flohr comments: “We are entering 2021 with optimism and grounded positivity following the unprecedented events of 2020. It is a pivotal and exciting time in our sector and I am extremely aware of the critical, growing role private aviation will play as part of the global economy for years to come. Ensuring the complete safety and security of passengers and Vista Global team members remains of paramount importance. There is growing confidence across corporate members from all the major regions and the asset-light provision of global mobility will be critical to seizing new opportunities to fuel recovery.
“I am immensely proud that over the last 17 years the Vista Global group was able to build a truly global infrastructure and the market leading technology platform to serve our clients anywhere, anytime.”