VistaJet Turns Over Fleet Fast in Bid for Eternal Youth
VistaJet’s audacious deal with Bombardier to buy up to 142 new aircraft raised some industry eyebrows last year, in part because it seemed to signal a massive escalation of a fleet that currently consists of just 37 jets. But fleet replacement is a big part of a company business plan founded on operating only young aircraft still covered by the manufacturer’s warranty. The average age of its aircraft now stands at less than two years.
According to VistaJet founder and chairman Thomas Flohr, the company has no trouble offloading aircraft that it considers to be past their prime. “The market for aircraft younger than five years is very liquid, and especially for larger aircraft,” he explained. “This allows us to resell them easily, but we do insist that [the new owners] repaint them. We either sell them on the open market or do so through the manufacturer when it gets requests.”
In June, VistaJet took delivery of its 57th aircraft from Bombardier, having already resold 20 earlier models.