Rhône Capital Invests US$150 Million in VistaJet

Rhône Capital has invested US$150 million into VistaJet.

Together with secondary acquisitions, Rhône will have a $200 million stake in VistaJet, in a transaction valuing VistaJet’s equity on a post-money basis in excess of $2.5 billion.

VistaJet’s Founder and Chairman, Thomas Flohr, said, “With the investment announced today, the equity valuation in excess of $2.5 billion and our fully scalable technology driven business model, VistaJet is ideally placed to take advantage of the opportunities to shape the market as it further develops in the years to come.”

VistaJet has flown over 250,000 passengers to over 1,600 airports in 187 countries, or 96% of the world.

The company has a fleet of over 70 wholly-owned super midsized and ultra-long range aircraft, all with identical livery and design.

This year, the company introduced VistaJet Direct, a new digital membership that gives customers priority access to available one-way and empty leg flights via the company's app and website.

In the first half of 2017, VistaJet’s EBITDA rose by 32% year-on-year. The company saw a 51% growth in the total number of Subscription Program Hours sold year-on-year in the second quarter of 2017, and Program Membership revenue reached a record high of 63% of total revenue, up from 55% in the  previous quarter. It also recorded a market-leading customer retention rate of 91% in the first half of 2017.

Flohr added, “Thanks to the hard work we have done over the past decade, we believe that VistaJet delivers the best service levels in the sector and in the most efficient manner. The integrated technology platform we have built fueled by data, algorithms and digital channels is, we believe, unique in the industry. Today’s announcement is further confirmation of VistaJet’s leading status in the market, and represents a real vote of confidence in our strategy and vision. I am excited to partner with the Rhône team and to have Steven Langman, Co-Founder of Rhône, join VistaJet’s board of directors. Rhône fully endorses our philosophy and approach, and will be a valued partner in the next stage of the VistaJet journey. Together, we will continue to focus on expanding our global market share. With the investment announced today, we are ideally placed to take advantage of market consolidation, and to build on our position in the sector.”

VistaJet has an operations hub in Malta and sales offices in London, Dubai, New York, Los Angeles, Hong Kong, Shanghai and Beijing.

Steven Langman of Rhône Capital said, “We seek to invest in the leaders in any sector, and with VistaJet we have invested in the best. We have closely followed Thomas and VistaJet for some time, and we are convinced that the Company's business model and global strategy give it a superior advantage in the marketplace. We share management’s vision to significantly grow the business,  oth organically and by acquisition, and we are prepared to make further investments, if needed, to achieve these goals. We are pleased to have invested in this dynamic industry pioneer.”

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