VistaJet
September 05:Against the backdrop of financial market panic stations, high spirits today in the world of corporation aviation. VistaJet, the world’s self-styled premier luxury aviation company, would-be nemesis to NetJets, has announced delivery of three new Bombardier Challenger 605* aircraft. The new deliveries, which take VistaJet’s current fleet to more than thirty aircraft, are part of the company’s US$2 billion order backlog.
This confirms that business aviation is ever more bifurcated: as economic crisis in the US and Europe continue to undermine the small and mid-cabin ‘mass market’ private jet utilization, emerging market growth and the accompanying high net wealth creation are still fueling strong demand for the largest and most luxurious corporate aircraft.
VistaJet confirmed that in their press station, and interestingly they now refer to BRINC rather than BRIC target markets. The newcomer is Nigeria, where VistaJet have teamed up with a local partner and are finding rapid and rich dividends. Despite endemic regional strife, Nigeria’s economy is set to be a world leader by 2020, and the current administration has made impressive progress in building out aviation infrastructure. It’s a smart bet that a hefty part of VistaJet’s backlog is earmarked for this market.