Global private aviation group Vista has announced robust performance for 2023 across all areas of the business, completing 93 aircraft refurbishments and continuing to expand its global footprint, enhancing its services and achieving record on-fleet flight hours.
The group says that, in the last year alone, it has grown its on-fleet hours globally by 17% to 200,000 hours through double-digit growth across all geographies. It operated around 87,000 flights, which is 18% more YOY and 80% up against pre-pandemic levels.
Thomas Flohr, Founder And Chairman Of Vista said: “2023 was another year of successful performance in our business. Despite having to react to deep economic shifts and complex geopolitical uncertainty, we produced double digit growth across all markets — achieved whilst refurbishing and upgrading our fleet ahead of schedule, further improving our service standards and significantly increasing aircraft availability.
“Today, Vista is a truly global and recognisable brand all around the world thanks to the 20 years in which we have delivered an unmatched service to our clients, and we are well placed to further increase our market share over the next two decades.”
According to Vista, the company strategically deployed some of its free cash flow to accelerate the delivery of the most ambitious refurbishment programme in business aviation. It has announced that, in 2023, 93 aircraft refurbishments were completed which is 50% more than initially planned, resulting in more than 230 aircraft now offering the iconic silver and red service and featuring the same onboard products Vista’s customers are used to.
The group says its recent acquisitions in the U.S. and Europe were successful and give clients even more access and ensure Vista standards of service across all Group operators. Charlotte Colhoun, Group Chief Financial Officer of Vista commented: “Strong growth across all regions demonstrates the global diversity of our business which in turn supports resiliency to external market dynamics. Despite a contraction in the global aviation market in 2023, Vista increased its hours flown by 17%, far outpacing the wider sector trend.
“Through 2023 our focus has been on optimising across all aspects of the business to drive efficiencies and reinvesting cash generated to uplift our fleet globally. With a CAPEX phase behind us and no near-term debt maturities, we go into 2024 in a position of strength and will focus on maximising revenues from our existing assets and infrastructure.”
