Swiss luxury charter firm VistaJet enters NBAA in buoyant mood having taken delivery of 12 brand new aircraft so far this year, with another dozen due to arrive by the end of the fourth quarter.
The new jets are all part of a series of multi-billion dollar orders the firm has placed with Bombardier and lessor ILAT since 2012 covering Global 5000s and 6000s and Challenger 605s and 350s.
Ian Moore, chief commercial officer at VistaJet, says the coming years will be a period of pronounced growth for the firm.
Ultimately the market will determine size of the company, he says, and stresses that “we are not aiming to be the biggest, not a 600-800 aircraft-type company”.
“But at this point in time we are looking to double the fleet size and receive over the next three years 60-65 aircraft.”
That will help keep its revenue growth on track to meet its 25% per year target, says Moore, noting that it has “only scratched the surface” of the markets it operates in.
VistaJet’s expansion comes despite the overall market for business aviation being what he describes as “choppy”. It has seen robust business in the USA and Asia, its “two heavy growth markets”, he says, but Europe and the Middle East are not performing quite as well.
“I would say we have gone against the grain for multiple years. We are not growing at 35% [per year] – but the kind of aircraft we are in and the categories of customers we are approaching are a bit more robust than the general market in Europe.
“We have the right product for the right type of customer,” he says. “We are really looking forward to the next three to four years.”
The Global 5000s are to be based in the USA, while the larger 6000s will slot into its international fleet. The Challenger 350s, meanwhile, will replace the Learjet 60s currently utilised in its European operation.
Its aircraft will be retained for the duration of the manufacturer’s warranty – usually around five years. This will mean that in 2015 the average age of the fleet will drop to around 1-1.5 years.
Older examples are either returned to the manufacturer or “even through sales to our own customers if they have evolved to owning an aircraft”.
Source: Flight Daily News