DEMAND FOR BUSINESS TRAVEL REMAINS STRONG DESPITE GLOBAL ECONOMIC UNCERTAINTIES
(Thomson Reuters ONE) -
DEMAND FOR BUSINESS TRAVEL REMAINS STRONG DESPITE GLOBAL ECONOMIC UNCERTAINTIES
VistaJet reports strong first half and record second quarter
January to June 2016*:
* Global flight traffic up 23%
* Passenger numbers up 20%
* Strong performance in America with flight traffic up 145% from first half
2015
* Triple digit growth in flights from Europe and the US to Asia
* Company sells largest single package of hours in its history
April to June 2016:
* Second quarter of 2016 the business' biggest ever
* Average number of new annual contractual flight hours up to 120 hours per
customer
* Over 3,000 new annual hours sold including multiple 400+ annual flight hour
block deals
* Fleet of over 65 aircraft now performs more than 100 flights per day
*Year-on-year
August 18, 2016 - VistaJet, the global leader in business aviation, today
announced that despite global economic uncertainty, it has delivered continued
growth over the past six months, and had its biggest ever quarter in the three
months to June 2016. Global flight traffic was up 23% in the first six months of
the year, highlighting that corporations, business leaders and entrepreneurs are
actively pursuing new opportunities to build and grow.
As VistaJet now regularly serves over 90% of the globe, its flight data provides
a unique insight into both business sentiment in emerging markets, and that of
businesses in the world's largest economies including the US, UK and Asia.
Despite concern about the strength of the US economy and uncertainty ahead of
the Presidential elections in November, flights from the country almost doubled
in the first half of 2016. VistaJet's performance illustrates the outward-
looking nature of American industry, with flights to Europe and Asia
experiencing triple digit growth, and traffic to Central and South America up
three-fold. Domestic flights were up 187% compared to the same period last year,
demonstrating the underlying strength of the US economy. The importance of
America's West coast tech sector to its economy is clear, with flights from the
area making up 20% of all traffic in the US.
While there has been much speculation about whether the recent Brexit vote will
have a negative impact both on the UK economy and the country's relationships
across the world, the UK's businesses and entrepreneurs have already started
pursuing opportunities outside the EU. In particular, there were increasing
signs that companies are seeking to enter new, emerging markets and attract a
greater range of customers to protect their businesses from potential economic
headwinds in the EU. Flights to China from the UK more than quadrupled, and
flights to India were up 50%. North America is expected to continue to be a key
market for UK businesses, and that was shown in stark relief in the first 6
months of the year, with flights to the US up 50% on popular routings into New
York and the West Coast.
In the first half of the year, VistaJet sold its largest single package of hours
in its history, a clear sign that corporations are increasingly viewing access
to an entire fleet rather than ownership of one or two aircraft as a priority.
With many developed markets experiencing economic headwinds, more and more
businesses are taking a fiscally prudent approach to corporate travel.
The average number of annual contractual flight hours also rose in the second
quarter to 120 hours per new customer. Clients increasingly compare VistaJet's
unique subscription model to ownership rather than the charter market,
acknowledging that the company can offer guaranteed availability and a
consistently higher quality of service than charter operators, but without any
of the asset risk that comes from actually owning an aircraft.
The multinational composition of VistaJet's customer base and business reaffirms
the rationale behind its decision to move its global headquarters to Malta. With
the company now flying customers all over the globe, it is more important than
ever that it both has access to the EU, and is headquartered in a central,
strategic location.
Chairman and Founder Thomas Flohr said:
"Our continued growth in the first half of this year demonstrates both the
resilience of the VistaJet business model, and that our commitment to delivering
the best possible service for our customers, in a way that makes sense in
uncertain times, is clearly valued. It also shows that there is an ongoing need
for business aviation, that companies will always seek to grow and pursue new
opportunities and it's just a question of finding the right, financially prudent
solution to access these. That is something that VistaJet is ideally positioned
to provide.
"We are flying our customers to more places than ever before and had our biggest
ever quarter in the three months to June 2016. We are particularly pleased to
see the growth in flight traffic to India, Asia and the United States. From the
trends we are seeing in the market, we expect Asia and India to play
increasingly significant roles in global business going forward, particularly
destinations like Shanghai, Mumbai, and Singapore, which have seen notable
growth over the past 6 months.
"We remain as committed as ever to serving our customers, and are confident that
the passion and drive that helped us achieve our current market-leading position
will continue to fuel future growth. We are taking nothing for granted, and have
several exciting new initiatives scheduled for the second half of 2016."
About VistaJet
Founded in 2004 by Thomas Flohr, VistaJet has established itself as the global
leader in premium long-range private jet travel by consistently providing
excellent service and unrivalled quality to its fast growing clientele,
connecting them to every corner of the world with point-to-point coverage.
VistaJet operates a young fleet - total fleet average age is under two years -
of over 65 Global(*) and Challenger(*) business aircraft and offers the
industry's largest service area, covering all major markets. The Company's
unique and successful business model provides all the benefits of owning a
personal jet without the responsibilities or asset risk of personal ownership.
News and information are available at www.vistajet.com.
Information
Katie Read James
Leviton
VistaJet International
Finsbury
M: +44 (0) 7834 335505 +44 207 251 3851
katie.read(at)vistajet.com VistaJet(at)finsbury.com
VistaJet-Fleet:
http://hugin.info/172518/R/2035785/758334.jpg
FINAL VistaJet Press Release for 18.08.16:
http://hugin.info/172518/R/2035785/758335.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: VistaJet International via GlobeNewswire
[HUG#2035785]
Unternehmensinformation / Kurzprofil:
Datum: 18.08.2016 - 11:10 Uhr
Sprache: Deutsch
News-ID 489858
Anzahl Zeichen: 7980
contact information:
Town:
London
Kategorie:
Business News
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"DEMAND FOR BUSINESS TRAVEL REMAINS STRONG DESPITE GLOBAL ECONOMIC UNCERTAINTIES"
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