Big news for private jet-setters: VistaJet, a global business aviation company, and Wheels Up, a membership-based private aviation company, are joining forces to offer VistaJet’s Flight Solutions Program in the United States. Service for FSP customers is scheduled to begin in March 2014, on a U.S.-based fleet operated and managed by Jet Aviation Flight Services, a U.S. certificated air carrier. The U.S.-based fleet is expected to grow to 12 all new Bombardier Global jets. The total value of the aircraft fleet commitment is U.S. $600 million.
Thomas Flohr, Founder and Chairman of VistaJet, said that the company's expansion could be credited to timing and the right partnerships. "Leading key indicators such as the overall U.S. economy, business jet usage and demand for a truly global solution were integral for my decision," he said. "The time is right for VistaJet to have a permanent presence in the U.S. market and Wheels Up is the perfect partner for our business model."
Announced August 2013, Wheels Up is a membership-based private aviation company that offers access to an exclusive fleet of planes. Wheels Up will be VistaJet’s exclusive general sales agent to market and sell VistaJet FSP to customers in the U.S. VistaJet will act as agent for these new FSP customers to arrange flights that will be operated by Jet Aviation within the U.S. The U.S. flights will be consistent with VistaJet’s exceptional customer service standards. Wheels Up customers will have access to the U.S.-based fleet of brand new Global aircraft under Jet Aviation’s operational control.
According to Kenny Dichter, Founder and Chief Executive Officer of Wheels Up, the company projects a membership base for its own program of 10,000 to 15,000 individuals and corporations, flying an average of 20 to 30 hours annually on flights arranged by Wheels Up as the member’s agent. The Company anticipates that a typical member will generate between $100,000 and $125,000 in flight revenues per year, resulting in annual revenues between $1 billion and $2 billion, representing at least 200,000 flight hours to be arranged by Wheels Up.
For the large cabin jet market, the Company projects that it will initially secure 5,000 hours worth of commitment via VistaJet's industry-leading Flight Solutions Program on the Global aircraft, and forecasts an additional 5,000 hours for 2015.
VistaJet perks include guaranteed availability and guaranteed price-per-hour, and customers are only charged for occupied hours.