VistaJet Adds Eight New Aircraft to Fleet

VistaJet is adding US $320 million worth of new aircraft to its fleet as part of its on going worldwide expansion strategy.

The eight new jets include three Bombardier Global aircraft valued at US$174 million, as well as three Challenger 605 jets valued at US $93 million, and two Challenger 350 jets valued at US$53 million. That is in addition to five Global aircraft added in the first half of the year.

VistaJet plans to take delivery of a further 12 jets including three Global 6000, four Challenger 350 and five Challenger 605 aircraft at a total value of US $447.5 million, by the end of the fourth quarter.

VistaJet is has just had its best summer season to date. The volume of flights is up 21% for the January to August period, and September is on track to be another record month.

Africa is VistaJet's fastest growth region, although expansion focus on the US and Asia Pacific remains a priority with new aircraft being placed in these regions to support increasing demand as capacity is at an all time high.

VistaJet's business in Russia and CIS remains strong and the company is positioned to reach its target revenue growth of 20-25% by year-end.

"We are having an exceptional 2014," said Thomas Flohr, Founder and Chairman of VistaJet. "This profitable growth strategy continues to be funded by strong EBITDA and cash flows. As per our global expansion plan we are making excellent progress in the US and Asia-Pacific. It has been our busiest summer since we launched and I am particularly excited about the remainder of the year. Our relationship with Bombardier goes from strength to strength and today is particularly special as never before has a Bombardier customer taken delivery of so many new business jets within such a short period of time. We are committed to invest in industry leading aircraft for our clients and flying the largest and youngest all-Bombardier fleet in the industry."