VistaJet was originally named Air Executive when Flohr founded the business in 2004. Back then, its headquarters were located in Switzerland, with operations in Austria.[8]
2003–2005
In 2003, Flohr bought an aircraft for his own use. He was able to purchase this and subsequent aircraft at discounted rates, as sales for private jets had severely weakened post-9/11, a development which Flohr has since attributed as key to the subsequent growth of the business, along with expansion in Eastern European markets and a favorable dollar/euro exchange rate.[9][10]
In 2004, Flohr placed his plane with a small local operator. It was chartered out within two months, making it self-financing. This prompted him to purchase a second, bigger plane, which was flying 100 hours per month within three months of purchase.
Flohr commissioned a financial analysis of the private aviation industry, driven by his interest in the field. The study indicated the absence of a single global brand in the industry and highlighted that many private jets available for hire were owner-operated, rented out only when not in use by the owners. To provide flights that were "not subject to owner availability," Flohr deviated from the industry norm of home bases, where privately owned charter planes typically return to a fixed location to remain at the owner's disposal.[2] By eliminating the need for home bases, jets could pick up clients from the airport closest to their location.[10] Flohr formally launched a three-plane fleet in 2005, with flights across the European Union and CIS region.
2006–2009
In 2008, the firm acquired Bombardier Skyjet International, effectively assuming control of the aircraft manufacturer's executive aircraft charter program, at the same time placing a US$1.2 billion order for 35 Bombardier business jets. It was reported to be Bombardier Business Aircraft's largest-ever single order.[11] The deal included taking over Skyjet's bases at Farnborough, Dubai International and Hong Kong International airports, and made VistaJet the second-largest private jet company outside America.[12] During this period, the firm entered private aviation markets in Africa, Asia-Pacific and the Middle East[13] It also redesigned its marketing and aircraft cabins to position itself as a branded luxury good.[14] By 2009, the firm was operating a fleet of 23 jets.[15]
2010–2016
In 2012, VistaJet ordered 142 Bombardier Global 5000, 6000, 7000, and 8000 aircraft, potentially worth $7.8 billion. In 2013, VistaJet placed a further order for 20 Bombardier Challenger aircraft, with options for another 20, in a deal worth around $518 million.[16]
The firm expanded its service to America in 2013 via a partnership with Jet Aviation Flight Services, which operated Bombardier Global aircraft for VistaJet. The move saw VistaJet targeting former and current fractional ownership customers in the US, as well as full aircraft owners.[17]
By 2014, VistaJet had flown over 150,000 passengers and opened a representative office in New York.[2] In 2015, VistaJet expanded the US fleet available to customers to include the Challenger 350 aircraft, then operated by Priester Aviation. In the same year, it sold its remaining LearJet 60, ending the company's association with light jets, and began to exclusively operate Bombardier Challenger and Global aircraft.[18] VistaJet was the first international operator permitted to offer domestic flights in China.[19]
2017–2018
In 2017, the firm expanded its US-based fleet by 50%.[22] In March 2017, the company completed its 100,000th flight. In May, VistaJet abolished positioning fees.[23]
In August 2017, VistaJet announced a $150m investment by funds affiliated to Rhône Capital. Together with secondary acquisitions, Rhône would have a $200 million stake in VistaJet, valuing VistaJet at more than $2.5 billion. The company is one of the top five European startups by funding.[24]
In November 2017, VistaJet announced a worldwide partnership with Christie's to sponsor the exhibition and tour of The Collection of Peggy and David Rockefeller, dedicated to raising funds for philanthropic causes. The tour took highlights of the Rockefellers' collection to Hong Kong, London, Paris, Beijing, Los Angeles and Shanghai, ending in New York with the auction.[25]
In September 2018, Vista Global, the holding company of VistaJet, announced it had acquired the fleet and commercial operations of the US-based charter operator and broker XOJET.
2019
In April 2019, Vista Global announced it had purchased JetSmarter, a digital broker with a membership program enabling customers to book single seats on private jet flights.[27] XOJET Aviation LLC will be the operator for VistaJet US Inc registered aircraft.[28]
2020–2022
During the 2019-2020 COVID-19 pandemic, VistaJet offered complimentary empty leg flights for governments and medical transportation.[29] It also took delivery of its first Bombardier Global 7500 aircraft. In 2021 the firm added a further four 7500s and sold more than 8,000 new annual subscription hours, up 67% year-on-year. It also acquired light jets and aircraft management services, through its purchase of Red Wing Aviation, Apollo Jet and Talon Air.[30]
In March 2022, VistaJet added its 10th Global 7500 to the fleet, making it a major operator of the Global 7500 aircraft.[31]
By the end of 2022 VistaJet's fleet of Global 7500 had grown to 18 aircraft.[32]
In September 2023, Vista Global Holding (Vista) announced that it entered into an agreement to acquire Air Hamburg's operating platform and maintenance services. Founded in 2006, Air Hamburg flew to over 1,000 destinations in Europe.
2024
In June 2024, Julian Assange departed the United Kingdom aboard a VistaJet plane.[34]
In 2024, VistaJet's founder filed legal proceedings against AirX and British financier Timothy Horlick claiming a smear campaign had been launched against VistaJet. The filing also claims that AirX founder John Matthews used a burner email address with a fabricated identity to send emails to business contacts of VistaJet, bypassing court-ordered confidentiality.[35]
Legal challenges
In late 2024, VistaJet's founder and CEO Thomas Flohr faced serious allegations of fraud in a high-profile case at the Royal Courts of Justice in London.[36] The accusations were brought forward during a hearing where Flohr's legal team was attempting to prevent the case from proceeding to a full fraud trial. The specific details of the fraud allegations were not fully disclosed in public reports. However, the case has drawn significant attention in the business aviation industry and financial circles. Flohr's lawyers strongly denied the claims, describing them as unfounded and damaging to their client's reputation.
Legal challenges
In late 2024, VistaJet's founder and CEO Thomas Flohr faced serious allegations of fraud in a high-profile case at the Royal Courts of Justice in London.[36] The accusations were brought forward during a hearing where Flohr's legal team was attempting to prevent the case from proceeding to a full fraud trial. The specific details of the fraud allegations were not fully disclosed in public reports. However, the case has drawn significant attention in the business aviation industry and financial circles. Flohr's lawyers strongly denied the claims, describing them as unfounded and damaging to their client's reputation.[37] The legal proceedings have raised questions about VistaJet's financial practices and corporate governance. These concerns come in the context of earlier scrutiny of the company's financial health, including its debt levels and accounting practices.[38]
