Vista Jet Holding SA - History

History

In 2008 VistaJet Holding SA, formerly Air Executive LU.AT, was founded by Thomas Flohr as a European private business jet charter and aircraft management company.

In 2006, the company ordered from Bombardier three Bombardier Challenger 605 business jets and signed an option for two additional aircraft, making this order the first and largest multiple aircraft order placed by a European company for the new jet. In 2007, VistaJet announced the opening of a base at SkyPark Subang, Kuala Lumpur, Malaysia, with a Bombardier Challenger 604 and a Challenger 605 likely available for customers.

In February 2008, VistaJet announced that, as part of its it plans to triple its fleet in 2008, it planned to be present in the UK market within weeks offering a London City based Learjet 40 XR as well as a Learjet 60 XR. Later, in May 2008, VistaJet announced an order for 11 Bombardier Learjet 85 aircraft, along with 11 Challenger 605 and 13 Learjet 60 XR aircraft. The deal includes options for an additional 25 aircraft. In addition to the aircraft order, VistaJet also signed a memorandum of understanding for the acquisition of Bombardier Skyjet International, Bombardier's charter program, making VistaJet the second largest business jet company outside of North America. The company completed its acquisition of Skyjet International the following month, on June 30, 2008.

In 2009, the former Swissair Chairman and SAir Group CEO Phillippe Bruggisser joined VistaJet as the new CEO and board member, following a general restructuring of the company's management team. Founder Thomas Flohr announced a rapid and aggressive growth program with the goal to develop the company to the largest executive airline outside North America. In January 2010, VistaJet announced the appointment of Robert Hersov as Chairman of the VistaJet Advisory Board. The Former vice-chairman of NetJets Europe, Hersov will drive and lead the Advisory Board, advising on strategies for developing and expanding VistaJet’s operations in key operating territories including Europe, the Middle East, Asia and West Africa. In May of the same year, an announcement was made at EBACE 2010 that VistaJet recorded a strong operational and financial performance in 2009 and has the platform in place for further growth in 2010.

In May 2010, VistaJet expanded its global network into West Africa, driving its expansion in the region through a new partnership with West African-based businessman Kola Aluko and dedicated aircraft to service the region from a regional base in Lagos, Nigeria. In the same month VistaJet received the EBAA Bronze Safety of Flight Award for outstanding Operational and Maintenance Safety Record (20 years or 40,000 hours without an accident). Two months later, a $277 million firm order for six Bombardier aircraft was announced at Farnborough Air Show. The order was for four ultra long-range Global Express XRS and two large cabin Challenger 605 aircraft. The order, which placed a greater emphasis on large, longer-range aircraft, was to significantly increase VistaJet’s long-haul capability in markets such as the Middle East, West Africa and Russia / CIS where flights are typically over six to eight hours. In October 2010, Phillippe Bruggisser stepped down as CEO and Thomas Flohr took over day-to-day management. At the 2011 Paris Airshow, VistaJet ordered 10 Bombardier Global 8000 business jets.

The company has placed a firm order for 56 Bombardier Global Express business jets (25 Global 5000, 25 Global 6000 and 6 Global 8000 aircraft) and options on a further 86 aircraft. Deliveries are expected to start in 2014.