Rhône Capital Invests US$150 Million in VistaJet


Rhne Capital has invested US$150 million into
VistaJet.

 Together with secondary acquisitions, Rhne will have a
$200 million stake in VistaJet, in a transaction valuing VistaJets
equity on a post-money basis in excess of $2.5 billion.

VistaJets Founder and Chairman, Thomas
Flohr, said, With the investment announced today, the equity
valuation in excess of $2.5 billion and our fully scalable
technology driven business model, VistaJet is ideally placed to
take advantage of the opportunities to shape the market as it
further develops in the years to come.

VistaJet has flown over 250,000 passengers
to over 1,600 airports in 187 countries, or 96% of the world.


VistaJet Bombardier Global 6000. Click to enlarge.

The company has a fleet of over 70 wholly-owned super
midsized and ultra-long range aircraft, all with identical livery
and design.

 This year, the company introduced VistaJet
Direct, a new digital membership that gives customers priority
access to available one-way and empty leg flights via the
company’s app and website.

In the first half of 2017, VistaJets EBITDA rose by
32% year-on-year. The company saw a 51% growth in the total number
of Subscription Program Hours sold year-on-year in the second
quarter of 2017, and Program Membership revenue reached a record
high of 63% of total revenue, up from 55% in the  previous quarter.
It also recorded a market-leading customer retention rate of 91%
in the first half of 2017.

Flohr added, Thanks to the hard work we have done over the past
decade, we believe that VistaJet delivers the best service levels in the sector and in the most efficient manner. The integrated
technology platform we have built fueled by data, algorithms and digital channels is, we believe, unique in the industry. Todays
announcement is further confirmation of VistaJets leading status
in the market, and represents a real vote of confidence in our
strategy and vision. I am excited to partner with the Rhne team
and to have Steven Langman, Co-Founder of Rhne, join VistaJets
board of directors. Rhne fully endorses our philosophy and
approach, and will be a valued partner in the next stage of the
VistaJet journey. Together, we will continue to focus on expanding
our global market share. With the investment announced today, we
are ideally placed to take advantage of market consolidation, and
to build on our position in the sector.

VistaJet has an operations hub in Malta and sales offices in
London, Dubai, New York, Los Angeles, Hong Kong, Shanghai and
Beijing.

Steven
Langman of Rhne Capital said, We seek to invest in the leaders
in any sector, and with VistaJet we have invested in the best. We
have closely followed Thomas and VistaJet for some time, and we
are convinced that the Company’s business model and global
strategy give it a superior advantage in the marketplace. We share
managements vision to significantly grow the business,  oth
organically and by acquisition, and we are prepared to make
further investments, if needed, to achieve these goals. We are pleased to have invested in this dynamic industry pioneer.

See other recent
news regarding
:

VistaJet
.


Support ASIATravelTips.com / TravelNewsAsia.com by making a donation or giving us a tip. Even the smallest amount means a lot, keeps us motived and in business too! Thank you
Make
a contribution? A
lot of time goes into producing the daily travel news,
interviews and pictures featured on this website. If you
find our service useful, then please do consider making a
contribution to TravelNewsAsia.com. No matter how small (or large) your
support, every bit counts and really does help enormously in keeping
us not only motivated, but in business too. Thank you.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *