Skip to content Skip to Search
Skip navigation

India and Gulf tipped as key markets for private jet hire

Cabin crew member Anna Orszulik and pilot Wilfried Woelfel in a VistaJet Global 7500: the company offers 'an alternative to private jet ownership' Reuters/Steve Marcus
Cabin crew member Anna Orszulik and pilot Wilfried Woelfel in a VistaJet Global 7500: the company offers 'an alternative to private jet ownership'
  • VistaJet based in Dubai
  • Business uses subscription model
  • Industry worth $28bn in 2022

Private jet operator Vista Global Holding is expecting the Middle East and India to be its fastest-growing markets in the luxury aviation industry.

The Dubai company’s “pay for hours flown” platform, VistaJet, has a fleet of about 360 aircraft available at 24 hours’ notice.

“The most dynamic and fast-growing markets for us are the Middle East [and] India, and then we’re seeing Asia get up there as well,” said Youssef Mouallem, VistaJet’s executive vice president.

The global private jet industry was worth over $28 billion in 2022 and will grow at a compound annual growth rate of 16.2 percent from 2023 to 2033, according to business intelligence company Visiongain.

VistaJet’s fleet includes Bombardier Global 7500s that have a range of more than 14,000 kilometres and can carry 19 passengers.

It offers flights from 30 minutes to 17 hours non-stop, at 1,900 airports across 187 countries – a geographical footprint broadened by two acquisitions in the first half of 2022, both for undisclosed amounts.

The company bought Air Hamburg, Europe’s largest private jet operator by number of flights flown across the continent, in February last year. The following month it acquired US plane charter, management and brokerage company Jet Edge.

Mouallem said: “Our focus is on consolidating the fleet and the business and optimising operations across all these acquisitions and then pushing and accelerating our growth across our key growth regions.”

VistaJet’s most important routes include intra-US, Dubai-Riyadh, Dubai-London and London-New York.

Customers sign up to three-year subscription packages that guarantee them a minimum number of flying hours each year. There are three subscription levels: Program (50 hours), VJ25 (25 hours) and Corporate.

VistaJet’s XO service is closer to a ride-hailing app. While it does not guarantee availability within 24 hours, customers can book flights on a wider fleet of about 2,400 aircraft owned by Vista’s other companies.

“Our business is quite diversified and has a nice balance between the US and the rest of the global market,” Mouallem said.

Clients include senior management of corporations, who make up the largest customer group, governments and ultra-wealthy individuals.

“They’re looking for efficiency, for that ability to access different locations across the globe, and they travel frequently,” he said.

Subscriptions are calculated from official fuel price data issued by the International Air Transport Association, plus a surcharge or discount to reflect monthly changes to this price, again based on IATA data.

“The US is one of our biggest markets and it’s a big growth opportunity as well, given the scale and its sheer size,” Mouallem said.

“We’re mainly offering an alternative to private jet ownership and the biggest private jet ownership market is the US.”

Latest articles

More than 24 million people visited the World Expo event at Expo City Dubai between October 2021 and March 2022

Construction begins at Expo City Dubai site

Construction has begun on the first residential properties at Expo City Dubai, part of a mixed-use master plan to repurpose the legacy site after the world fair came to a close two years ago. Master developer Expo City Dubai announced last week that it has awarded four key contracts for its Mangrove Residences. UAE-based USF […]

Saudi housing costs rose nearly 9% year on year in May

Saudi housing costs rise but inflation remains steady

Housing costs in Saudi Arabia rose nearly 9 percent year on year in May, but it was not enough to push overall inflation in the kingdom over 2 percent. The latest data from the General Authority for Statistics showed the annual inflation rate in Saudi Arabia was 1.6 percent in May, having remained at this […]

OTB Group has a presence in Dubai with its Maison Margiela store in the Dubai Mall

Chalhoub Group in venture with Italian luxury brand

Luxury distributor Chalhoub Group has entered into a joint venture with Italian fashion conglomerate OTB Group to expand the brand’s footprint in the Gulf. OTB (which stands for Only The Brave) owns the Diesel, Jil Sander, Maison Margiela, Marni and Viktor&Rolf brands, the Staff International and Brave Kid companies, and holds a stake in the […]

Arid conditions brought about by the drought in Morocco are affecting the cost of sheep

Drought pushes up sheep price for Eid in Morocco

The price for a sheep in Morocco for the annual sacrifice at Eid al-Adha has increased on average at 10 times the 2.2 percent rate of inflation. A medium-sized female sheep costs MAD4000 ($400) as opposed to MAD3000 last year. This puts it out of range for many families in the country where a high […]