Dubai – Mubasher: VistaJet on Thursday announced plans to operate to and from Saudi Arabia, which accounts for the biggest share of the company’s operations in the Middle East.
VistaJet, which describes itself as “the first and only global aviation company”, also unveiled positive results for the Middle East region, indicating that both individuals and corporations were “moving away from fractional and full aircraft ownership.”
Saudi Arabia accounts for 39% for VistaJet’s customers in the Middle East, the largest share in the company’s operations, followed by the UAE with 30%, while Qatar, Kuwait, and Egypt enjoy 7% each.
“Saudi Arabia has even more potential for growth and as the first and only global operator to abolish positioning fees around the globe, VistaJet will enable its customers to seamlessly connect to and from the country, anytime and anywhere,” the Malta-based aviation company highlighted.
VistaJet recently received a $150 million investment from Rhône Capital, bringing the aviation firm’s value to over $2.5 billion and allowing it to be “well-placed to capture even more market share by offering global coverage.”
Private jet travel is growing the Middle East and is characterised by more companies launching business subsidiaries in the region.
With its global infrastructure and its fleet of over 70 identical large-cabin aircraft, VistaJet “is perfectly positioned to deliver further positive results over the coming years,” according to the statement.
“With a growing demand for global travel in the Middle East, we foresee a continued increase in our customer base in the region…With our extension to operate in and out of Saudi Arabia, this will further enable business leaders to travel seamlessly throughout the Middle East and to the rest of the world,” commented VistaJet’s founder and chairman Thomas Flohr.
Over the past five years, the Middle East has seen a significant shift in its aviation segment, with “70% of overall private aviation flights within the region [being] for business purposes.”
“Regionally, the company has seen its flagship Program Membership hours double this year, driven by an increase of 50% in the number of its Program customers. With clients buying more hours to meet their flying needs, VistaJet considerably surpasses the overall Middle East business aviation sector’s results, which is forecast to realise a 9% growth this year,” VistaJet said in a statement.