Monday, March 16, 2009

VistaJet to fly most Bombardiers in Gulf

Private aviation company VistaJet said a significant part of the $1.2 billion (Dh4.4bn) fleet of BombardierBombardierLoading... aircraft it has ordered will operate in the Middle East.
The Swiss-based firm has identified the region as the fastest growing market for business jet services, said Chairman and Founder Thomas Flohr.
"The Middle East is the central part of our strategy for 2009, while we remain very strong in Europe and Asia," he told Emirates Business. "Over a three-year period it will account for a third of the company's revenue."
Flohr said the financial downturn had not hit his business in the Middle East or in other parts of the world. "We have been growing 30 per cent year on year and are taking market share from other players. In 2008, VistaJet flew 11,000 passengers and this year the company plans to carry about 15,000 to 16,000. Despite the economic downturn January and February were very strong."
Asked about his business model and plans to increase the fleet in the Middle East, Flohr said: "We don't have the concept of a dedicated base for our aircraft. It is a dynamic and fluid model.
"The airline has three aircraft in the Middle East and this will increase to five or six by the end of the year. But we expect that within three years a third of our fleet will touch down and bring passengers to the Middle East."
The Middle East currently contributes five per cent to the company's bottom line, but Flohr said he expected the percentage to grow to a third of VistaJet's total business.
16/03/09 Zawya.com
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