VistaJet Says Flight Hours Grew 17 Percent to 200,000 Last Year

The private aviation company attributes the growth in part to new subscribers and expansion in Africa, Asia, and the Middle East.

Jonathan Welsh

Tuesday, February 13, 2024 at 06:00 PM ET

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A VistaJet aircraft [Courtesy: VistaJet]

Key Takeaways:

VistaJet achieved substantial growth in 2023, increasing flight hours by 17% to 200,000 and expanding its private aviation market share to 5%, with flights significantly exceeding pre-pandemic levels.
The company expanded its global footprint, with over 50% of flight hours logged outside the U.S. in regions like Africa, Asia, and the Middle East, alongside record growth in its subscription programs.
Program subscribers, particularly new three-year commitments, are a key revenue driver, accounting for approximately 60% of on-fleet revenue.
VistaJet strategically focused on fleet upgrades (refurbishing 93 aircraft in 2023) and improving service standards, aiming for continued market share expansion despite economic challenges.

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VistaJet said its fleet flew 200,000 hours in 2023, an increase of 17 percent over the previous year, and its share of the private aviation market reached a total of 5 percent, driven by growth across its business units.

VistaJet said its worldwide presence continued to improve last year with more than 50 percent of its total flight hours logged outside the U.S. During 2023 the private aviation company expanded its operation in Africa, Asia, and the Middle East in response to increased demand.