Story ID: 
VistaJet Membership Sales Surge in 2017
By: Kerry Lynch
Caption: The company experienced a record 57 percent jump in membership sales, while customer retention increased to 91 percent.
Word Count: 217
VistaJet’s membership sales jumped a record 57 percent in the first half of the year, the company reported, noting it is seeing an increasing number of large corporations and high-net-worth individuals joining its programs. The international operator, seeing expansion in a number of markets, said demand is being further fueled by VistaJet’s recent abolition of positioning fees.

Along with growth in new business, VistaJet experienced a 91 percent customer retention rate, it said, noting renewal hours more than tripled in the first half of the year. “VistaJet now stands at 6,000 new annual subscription hours sold in [first half] 2017,” the company said.

For the second quarter ended June 30, flight hours sold were up 51 percent, year-over-year, and aircraft utilization rate increased 11 percent. Revenues from its program membership accounted for 63 percent of total revenue in the second quarter. This is up from 55 percent from the previous quarter.

VistaJet, which has a fleet of more than 70 owned aircraft, believes the strong second quarter gives the charter operator momentum moving into the third quarter, which historically is its busiest period.

 “We have spent 13 years building up a world-class fleet and unsurpassed global offering,” said chairman and founder Thomas Flohr. “Our impressive performance is the proof that customers have embraced our unique model.”