September 6 2013 – VistaJet, the leading Global business aviation company, and Wheels Up, a revolutionary membership-based private aviation company, are joining forces to offer VistaJet’s innovative Flight Solutions Program (FSP) in the United States. Service for FSP customers is scheduled to begin in March 2014, on a U.S.-based fleet operated and managed by Jet Aviation Flight Services, a U.S. certificated air carrier. The U.S.-based fleet is expected to grow to 12 all new Bombardier Global jets. The total value of the aircraft fleet commitment is U.S. $600 million.
Thomas Flohr, Founder and Chairman of VistaJet said “We successfully grew our business by carefully identifying which marketplace to enter and develop. Several criteria come into play when making this analysis, however two things are key – timing and having the right partners and team… Leading key indicators such as the overall U.S. economy, business jet usage and demand for a truly global solution were integral for my decision. The time is right for VistaJet to have a permanent presence in the U.S. market and Wheels Up is the perfect partner for our business model… Our two companies share numerous synergies, including a focus on safety, customer cost benefit, ultimate service and simplicity at the core of all our services. Kenny Dichter brings his proven success in business aviation as the founder of Marquis Jet, his invaluable industry insight and market expertise along with an impressive management team.”
Announced August 2013, Wheels Up is a membership-based private aviation company offering access to an exclusive fleet and maximizing flexibility. Wheels Up will be VistaJet’s exclusive general sales agent to market and sell VistaJet FSP to customers in the U.S. VistaJet will act as agent for these new FSP customers to arrange flights that will be operated by Jet Aviation within the U.S. The U.S. flights will be consistent with VistaJet’s exceptional customer service standards. Wheels Up customers will have access to the U.S.-based fleet of brand new Global aircraft under Jet Aviation’s operational control.
Kenny Dichter, Co-Founder and CEO of Wheels Up said “By partnering with VistaJet, Wheels Up will offer its members access to a large cabin Global business jet fleet and a service that is second to none worldwide,” said Kenny Dichter, Founder and Chief Executive Officer, Wheels Up. “The relationship with VistaJet gives Wheels Up a truly global presence and enhances our offering to cater to all customers’ needs, further positioning Wheels Up as a true business aviation solution. We look forward to working with Thomas Flohr and embrace his innovation and entrepreneurial spirit, which will undoubtedly propel all involved to the next new level of private aviation.”
According to Mr. Dichter, Wheels Up projects a membership base for its own program of 10,000 to 15,000 individuals and corporations, flying an average of 20 to 30 hours annually on flights arranged by Wheels Up as the member’s agent. The Company anticipates that a typical member will generate between $100,000 and $125,000 in flight revenues per year, resulting in annual revenues between $1 billion and $2 billion, representing at least 200,000 flight hours to be arranged by Wheels Up.
For the large cabin jet market, the Company projects that it will initially secure 5,000 hours worth of commitment via VistaJet’s industry-leading Flight Solutions Program on the Global aircraft, and forecasts an additional 5,000 hours for 2015.
VistaJet FSP customers benefit from guaranteed availability, guaranteed price per hour, are only charged for occupied hours and have access to the largest service area in the world with VistaJet’s international fleet.
VistaJet leads the industry in offering the youngest fleet in the sky – the average fleet age is less than two years and all aircraft operate under their manufacturer’s warranty – based across the largest service area in the business to seamlessly connect the globe.
Thomas Flohr added “We are by far Bombardier’s largest Global aircraft customer and with a Think Global strategy of deploying brand new aircraft into the U.S., Europe, Russia, the Middle East, Asia, Africa and soon China, VistaJet is defining the new business aviation landscape with its silver aircraft with the red stripe.”
About Wheels Up
Wheels Up is a revolutionary membership-based private aviation company that eliminates fixed costs and provides unparalleled flexibility created and led by Kenny Dichter, the Founder of Marquis Jet and innovator of the first 25-hour fractional jet card. Wheels Up has developed proprietary cutting-edge applications and offers unrivaled personalized service, providing members with a unique high-tech and high-touch experience. With a modest initiation fee and reasonable annual dues, Wheels Up is designed to appeal to individuals and corporations currently flying privately. With an 8,760-hour culture (referencing the number of hours in a year), Wheels Up membership includes Wheels Down, a corresponding lifestyle concierge service engaging members through exclusive offerings such as special programs around major sporting events, intimate concerts, culinary experiences and opportunities to meet luminaries from the worlds of entertainment, politics and business. Wheels Up will act as agent for the Wheels Up members, and is not the operator of the program aircraft; FAA licensed and DOT registered air carriers participating in the program will exercise full operational control of the program aircraft. Any aircraft owned by Wheels Up will be dry leased to the operating air carrier to facilitate operations by that carrier. For additional information, please visit www.wheelsup.com.
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