VistaJet's Flight Hours Soar 22%, Led by U.S. Demand

Membership and on-demand air charter firm VistaJet reported this week that revenue from flight operations soared 22 percent last year while profits jumped 28 percent. The U.S. spearheaded its overall expansion in flight hours, with this region logging 39 percent year-over-year growth, said VistaJet, which operates an all-Bombardier fleet of super-midsize and large-cabin business jets.

“2017 has been another record year. Along with taking market share from full and fractional ownership in all the core markets, including the largest market in the world—the U.S.—we reinforced our position as the brand of choice for the world’s leading business leaders and entrepreneurs,” said VistaJet founder and chairman Thomas Flohr. “In the last 12 months, we have flown more chief executives and chairmen to more destinations than we ever have before.”

Flohr is bullish on 2018, saying he sees sustainable growth across the business. “The market as a whole has proved resilient over the past decade, recording consistent single-digit growth,” he added. “This trend continued in 2017 and, as the global air charter market grew by 5 percent, aircraft utilization has returned to levels not seen since the recession. The number of charter flight hours is now at its highest level since 2008.”