VistaJet completes acquisition of Bombardier Skyjet International

SWITZERLAND – VistaJet Holding SA (VistaJet) and Bombardier Aerospace today announced that the companies have signed definitive agreements under which, for an undisclosed sum, VistaJet has acquired Skyjet International, a leading business aviation company with offices in London, Hong Kong and Dubai.

The transaction promotes VistaJet to the number two position outside North America and allows VistaJet to expand its revolutionary Flight Solutions Program and expand operations worldwide.

“Today’s transaction is a perfect fit; the complementary synergies and strengths are in line with our goal of becoming the world’s leading business aviation provider,” said Thomas Flohr, chairman of VistaJet. “The merger underlines VistaJet’s vision of revolutionizing the business aviation landscape globally by coupling pure luxury with affordability.”

Bing Chen, VistaJet CEO emphasized, “VistaJet remains committed to a seamless integration of operations and services for the benefit of our customers. Skyjet International’s jet membership program perfectly complements our innovative Flight Solutions Program. The Skyjet International brand name has been retained to reassure customers who will benefit from this expanded range of service options.”

“This is another milestone of VistaJet’s continued success in providing the most innovative travel solutions that are transparent, flexible and affordable but with the most luxurious fleet and services,” said Chen.

On May 20 2008, VistaJet announced that it had placed a firm order for 35 Bombardier business jets, including an option for an additional 25 aircraft. This $1.2 billion business jet order will triple the size of VistaJet’s existing fleet.

The Skyjet International transaction and current aircraft order will see VistaJet’s fleet expand to 94 jets by 2012. The company recently forecast a 50 percent increase in revenues for this year and expects to generate approximately 80,000 flight hours by 2012.