Wed, Jul 02, 2008
Becomes Second-Largest Business Jet Company Outside North
America
VistaJet Holding SA and Bombardier
Aerospace announced this week the companies have signed definitive
agreements under which, for an undisclosed sum, VistaJet has
acquired Skyjet International, a leading business aviation company
with offices in London, Hong Kong and Dubai.
The transaction promotes VistaJet to the number two position
outside North America and allows VistaJet to expand its
revolutionary Flight Solutions Programme and expand operations
worldwide.
"Today's transaction is a perfect fit; the complementary
synergies and strengths are in line with our goal of becoming the
world's leading business aviation provider," said Thomas Flohr,
Chairman of VistaJet. "The merger underlines VistaJet's vision of
revolutionizing the business aviation landscape globally by
coupling pure luxury with affordability."
VistaJet CEO Bing Chen added, "VistaJet remains committed to a
seamless integration of operations and services for the benefit of
our customers. Skyjet International's jet membership programme
perfectly complements our innovative Flight Solutions Programme.
The Skyjet International brand name has been retained to reassure
customers who will benefit from this expanded range of service
options."
On May 20, VistaJet announced that it had placed a firm order
for 35 Bombardier business jets, including an option for an
additional 25 aircraft. This $1.2 billion business jet order will
triple the size of VistaJet's existing fleet.
The Skyjet International transaction and current aircraft order
will see VistaJet's fleet expand to 94 jets by 2012. The Company
recently forecast a 50 per cent increase in revenues for this year
and expects to generate approximately 80,000 flight hours by
2012.
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