27 July 2008 – VistaJet becomes second largest business jet company outside North America; VistaJet will generate over 25,000 hours worldwide
Zurich, Switzerland – VistaJet Holding SA (VistaJet) and Bombardier Inc. today announced that the companies have signed definitive agreements under which, for an undisclosed sum, VistaJet will acquire Bombardier Skyjet International, a leading business aviation company with offices in London, Hong Kong and Dubai.
The transaction promotes VistaJet to the number two position outside North America and allows VistaJet to expand its revolutionary Flight Solutions Programme and expand operations worldwide.
Thomas Flohr, Founder and Chairman of VistaJet said, “Today’s transaction is a perfect fit; the complementary synergies and strengths is in line with our goal of becoming the world’s leading business aviation provider… The merger underlines VistaJet’s vision of revolutionizing the business aviation landscape globally by coupling pure luxury with affordability.”
Bing Chen, CEO of VistaJet said, “VistaJet remains committed to a seamless integration of operations and services for the benefit of our customers. Skyjet’s jet membership programme perfectly complements our innovative Flight Solutions Programme. The Skyjet International brand name has been retained to reassure customers who will benefit from this expanded range of service options. This is another milestone of VistaJet’s continued success in providing the most innovative travel solutions that are transparent, flexible and affordable but with the most luxurious fleet and services.”
On May 20 2008, VistaJet announced that it had placed a firm order for 35 Bombardier business jets, including an option for an additional 25 aircraft. This $1.2 billion order was Bombardier’s second largest business jet order and will triple the size of VistaJet’s existing fleet.
The Skyjet transaction and current aircraft order will see VistaJet’s fleet expand to 94 jets by 2012. The Company recently forecast a 50 per cent increase in revenues for this year and expects to generate approximately 80,000 flight hours by 2012.
A world-leading manufacturer of innovative transportation solutions, from commercial aircraft and business jets to rail transportation equipment, systems and services, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2008, were $17.5 billion, and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is listed as an index component to the Dow Jones Sustainability World and North America indexes. News and information are available at www.bombardier.com.
About Bombardier SkyJet International
Launched in March 2002 as Flexjet Europe and later rebranded, Bombardier Skyjet International established itself as the world’s first truly global business jet charter service. Consolidating some of the world’s leading charter operators into a single network, Skyjet International, based outside London – and with offices in Dubai and Hong Kong – provides a variety of innovative private jet travel options.
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