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Vista Global Holding, the world’s leading private aviation group headquartered in DIFC, Dubai, posted high double-digit growth in the first quarter, noting that strong sales momentum in 2022 is expected to continue into 2023.
The group delivered a record first quarter with double-digit revenue growth, continued expansion of EBITDA margins and continued strong momentum in Vista subscription solutions and services.
The record performance was driven by program sales, with annualized total hours sold in the quarter of approximately 9,000 hours, a 55% increase year-over-year. The U.S. led the growth after significant investments, with planned annual hours sold in the quarter doubling compared to the same period last year.
The Middle East also saw strong growth, up nearly 50% year-over-year, and was the second-strongest region for new customer growth in the quarter. Globally, more than 50% of hours sold in the first quarter of 2023 were sold to existing customers, especially in Europe and Asia, a testament to the product’s strength and proven durability.
This growth is driven by the added capacity of its 2022 acquisition strategy, which includes full Vista aircraft and service upgrades to harmonize its premium brand positioning globally. Year-to-date, more than 200 aircraft have adopted the silver and red interior standard and VistaJet products. With fleet expansion and upgrades, Vista posted another record double-digit revenue growth and further expanded EBITDA margins.
On May 1, 2023, the Group successfully executed its refinancing strategy for the year by issuing a new US$500 million 5-year senior unsecured bond. Two oversubscribed offers attracted significant interest from major institutional investors and pension funds. This underpins the positive view of all Vista Group credit rating agencies, including S&P, Fitch and Moody’s, which affirmed or upgraded their stance following the group’s 2022 financial audit published in April.
Thomas Flohr, founder and chairman of Vista, said: “As a group we delivered a very strong first quarter and continue to build on our strong momentum into 2022. Across all markets, we continue to see With unprecedented levels of demand from existing and new members, additional time was sold to existing members as well as to a significant number of new customers who asked to join Vista, reflecting the enduring demand for a subscription model from our customer base.”
“Our members recognize that we deliver the best value and end-to-end experience in the industry. Our asset-free, technology-driven solutions meet the needs of every private aviation user, and we are fully committed to innovating and advancing in every corner of the globe Our Flight Solutions. Today, more than ever, we offer aircraft in our signature silver and red quality, and I’m delighted with the progress we’ve made on integration over the year.
“Vista’s 19-year track record of proven growth and prudent financial policies have enabled the Group to build out our global infrastructure to support all of our valued members around the world,” he added. – trade arab news agency
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