Private aviation company VistaJet this morning announced a sweeping 25% price cut on all return flights for its programme members, as customers become "increasingly sensitive about costs".

Chairman Thomas Flohr also revealed that the company plans to merge its three regional service areas (Europe, Middle East and Asia) to give customers a "transparent pricing model". Salzburg, Austria-headquartered VistaJet is reporting a 25% increase in revenues for the first quarter of 2009.

"The private business aviation market has contracted by 15% largely due to the global economic slowdown, but VistaJet is in a strong position with the combination of the industry's largest service area, competitive pricing for our programme customers and our unique business model," says Flohr.

Source: Flight Daily News