(image: VistaJet Ltd)
Dubai, Jan. 22 (Korea Bizwire) - Vista Global, the private aviation group founded by Thomas Flohr, provides 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, the Group’s VistaJet, the first and only global business aviation company, saw an increase of 29% globally in new subscription memberships year-on-year, with Europe accounting for 43% of new Members, North America 25%, Asia 18% and the Middle East 10%. It was also a record year for VistaJet’s On Demand services, with bookings growing substantially at +15% year-on-year. The Company expects to see a continuation in this extraordinary explosion 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% of total flights, and North America 26%. In Asia, strong demand was recorded for flights in and out of China, which accounted for 28% of flights across the Asian region, and the UAE accounted for 34% of flights across the Middle East.
XO, the Group’s leading On Demand technology platform, recorded a surge in new client memberships of more than 3x in 2020, with each depositing an average of $100k deposit, guaranteeing future flying. The Company also recorded record flight hours in 2020, up 6% year-on-year.
This surge in customer demand and XO’s superior product offerings clearly cement its leadership position within the On Demand charter market. By delivering a best-in-class digitally native user experience, XO is set to continue to grow significantly in the coming years, servicing both large enterprises and individual consumers.
Following XO’s launch of a light jet fleet in November 2020, increasing its dedicated aircraft by 30%, the operator of the aircraft saw extraordinary growth, with the number of flights up 39% in December alone.
Vista Global is confident of further significant subscription membership growth. The Group’s highly generative cash model and the prudent 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 the clear 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 maximum safety and guaranteed access to travel services across the globe. VistaJet’s 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 clearly drove customers’ preference, while XO’s technology platform provides instant booking solutions and opened access to the jet market in an unprecedented way.
Thomas Flohr, Vista Global Founder and Chairman, said: “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. The team has created the ultimate resilience in such an incredibly challenging year — our ability to adapt, change, discover and offer new solutions to our clients is what makes us the best business aviation provider in the world.”
Clients are increasingly demanding digital solutions in the modern economy. Vista Global’s proprietary technology gives it a significant advantage in the industry, creating superior client value and elevated end-to-end experience.
VistaJet is pioneering innovative solutions across its subscription membership offerings and global fleet. In response to the seismic changes in market and customer demands, the Company has taken the opportunity to expand its global services to its growing membership base and increase the experience for all clients. In October 2020, VistaJet launched its Dynamic Corporate Membership, offering a full suite of flexible travel solutions for businesses and executives around the world with minimum commitment.
XO will continue to enhance its position as the industry’s leader for On Demand flight solutions, focusing on global expansion to mature and future growth markets. To further support client demand, the Company plans to launch a series of new products, upgrades to its dedicated fleet as well as dedicated shuttle routes across 2021.
The launch of VistaJet Private World, the global program for private travel, offers Members complete privacy and safety at all stages of their journey through a fully integrated travel platform with leading partners around the globe.
Additionally, VistaJet is driving forward the sustainability agenda within the private aviation sector. Urging for greater acceleration for all operators and industry players, the Company is advocating everyone’s responsibility to transform the business aviation landscape for higher sustainability. By partnering with SkyNRG, the global leader for sustainable aviation fuel — a new type of fuel capable of reducing a flight’s carbon emissions by up to 85% — and reaffirming its Sustainability in Aviation pledges, VistaJet is taking major steps in aiding the transition towards a sustainable future.
Vista Global continues to support governments and medical organizations fighting the very real challenges of COVID-19 around the world. The Community Support program has made its entire global network, infrastructure and technology available to ensure safe passage worldwide for critical travel.
- Ends -
Note to Editors:
Statements in this release are based solely upon information available as of the date of this release, are not a comprehensive statement of the Group’s financial results or positions as of or for the 2020 full year, and have not been audited, reviewed, or compiled by an independent registered accounting firm. Thus, the financial information in this release is preliminary, unaudited and subject to revision upon completion of the Group’s closing and audit processes. The Group assumes no obligation to update any information contained herein, save for any information required to be disclosed by law.
Information
Vista Global | press@vistaglobal.com
About Vista Global Holding
Vista Global Holding is the world’s first private aviation ecosystem. A global group headquartered at the DIFC in Dubai, Vista Global integrates a unique portfolio of companies offering asset-light services to cover all key aspects of business aviation: guaranteed and On Demand global flight coverage; aircraft leasing and finance; and cutting-edge aviation technology. The group’s mission is to lead the change to provide customers with the most advanced flying services and the very best value, anytime, anywhere around the world. Vista Global’s knowledge and understanding of all facets of the industry deliver the best end-to-end offering and technology to any business aviation customer, through its VistaJet and XO branded services.
vistaglobal.com
Vista Global Holding Limited (“Vista Global”) does not own or operate any aircraft. All flights are performed by FAA-licensed/DOT-registered EASA or U.S. certified Vista Global group direct air carriers and/or partner operators. Vista Global holds a non-controlling minority stake in XOJET Aviation LLC.
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Source: VistaJet International Ltd via GLOBE NEWSWIRE
