Record results as company continues to gain market share across all markets
- Program Membership flights up 38% year-over-year
- Record number of Program Membership hours flown, up 32% year-over-year
- 25% of Program Membership growth from North American market
- EBITDA grew 24% year-over-year
VistaJet, the first and only global business aviation company, is delighted to announce record results in its third quarter trading update, driven by the continued demand for the company’s flagship Program Membership with a 38% increase in revenue. The Program segment achieved a record 32% increase of new flights hours flown compared to Q3 2016.
A core driver to VistaJet’s Program Membership growth came from its North American market, seeing a 25% growth in its US-based customers in the third quarter alone. VistaJet also saw its largest increase in flight hours from North America, up 22%, representing yet another quarter of double-digit year-over-year growth.
Over the same period, VistaJet achieved a 24% rise in EBITDA thanks to its unique global infrastructure and the investment into its proprietary technology.
Today’s update yet again demonstrates the global trend of individuals and corporations moving away from aircraft ownership as they look to reduce costs and asset risks, but not the comfort, convenience and benefits of business aviation. Supporting this trend was the recent $150 million investment from Rhône Capital announced in August, now valuing VistaJet equity in excess of $2.5 billion. The company is well positioned to attract even more fractional and full aircraft owners in the US market, by offering global coverage, consistent unparalleled quality and maximum efficiency.
Today’s record results are yet another milestone in VistaJet’s history and prove the global demand for our unique model and ability to shake up the business aviation industry. It is clear that in today’s On Demand economy, individuals want the flexibility and cost-effectiveness of the VistaJet Program. I am also extremely pleased with the continued growth we are making in the US, the largest business market in the world. The progress has been made on the back of positive feedback from customers who are continually recommending VistaJet to their peers for its unrivalled and consistent level of service, anytime and anywhere they fly. We are excited to continue building VistaJet’s leading position in the industry thanks to our customers’ trust and support.