VistaJet - the all-Bombardier block charter specialist - has established an aviation advisory board designed to promote the company internationally and help it to develop within growth markets across the globe.
The move comes as Europe's largest private aviation operator after NetJets seeks to establish bases over the next 12 months in Saudi Arabia and West Africa.
"Despite the very miserable market, VistaJet experienced a year of growth in 2009 with revenues soaring by over 20%," says company chairman and founder Thomas Flohr. "I want to continue to grow the business well into the future and to do it properly I must be as close as possible to VistaJet's existing and potential customer base, who will give me feedback on the needs of the market and help to promote the product within their regions."
The advisory board is headed by Robert Hersov, founder of charter card specialist Marquis Jet Europe - now part of NetJets Europe. Up to five other members - a mix of existing and aspirational customers spread across different geographical and culturally diverse regions where VistaJet operates - will be added to the board in the coming months.
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The group will meet three or four times a year and advise on strategies for developing and expanding VistaJet's operations in key operating territories including Africa, Asia, Europe and the Middle East.
"We are here for the long term and it is vital that we get the product right," Flohr says.
Austria-based VistaJet was formed in 2004 owning a Bombardier Learjet 60 and Challenger 604. After acquiring Bombardier's European-based Skyjet brokerage in 2006, Flohr began to acquire additional Learjets, Challengers and Globals and now has a fleet of 26 aircraft.
Seven aircraft were added to the line-up in 2009 and a similar number is expected this year from VistaJet's remaining 20-aircraft order tally. "The top end of the market has seen the most significant growth as beleaguered customers - mainly independently wealthy individuals - have turned their backs on airlines, charter and fractional ownership programmes," Flohr says. "Demand for our entry-level product - the midsize Learjet 60 - has, however remained flat."
VistaJet now has bases in Beirut, Dubai, Hong Kong, Kuala Lumpur, Moscow and the UK. "The Middle East is a very important market for us," Flohr says. "We were hoping to establish a base in Saudi Arabia early in 2010, but discussions with a potential partner fell through as we were not prepared to sell a stake in the company. We are still looking at the country with a view to opening a base with another operating partner before the end of the year."
Before then Flohr hopes to have expanded into the thriving West African market, focusing on Ghana or Nigeria. "This market has enormous potential," Flohr says.
With rich oil, gas and mineral reserves, the region is spawning a host of wealthy individuals who are using business aircraft in increasing numbers to beat the poor transport infrastructure.
"There is also a thriving market in many West African countries for government and heads of state transport," says Flohr.
Source: Flight International
