The African Roadshow Reaffirms Commitment Towards the Region’s Economic Development
DUBAI, United Arab Emirates, November 4, 2024/APO Group/ —
VistaJet (www.VistaJet.com), the world’s first and only global business aviation company, is set to organize its first-ever East and South Africa Static Display Roadshow, showcasing its flagship aircraft, the Bombardier Global 7500. The event will commence in Kenya’s capital, Nairobi, followed by a landing in South Africa’s top business centers, Johannesburg and Cape Town. Nairobi’s positioning as East Africa’s tech and business hub, along with Johannesburg and Cape Town’s role in South Africa’s mature aviation market, have made these cities essential focal points for VistaJet’s growth strategy. The roadshow will engage with prospective and existing clients and the local media, serving as a platform to share VistaJet’s ongoing expansion and dedication to support the region’s economic transformation as set out in the AcFTA agreement. This roadshow follows the monumental success of its West African edition (https://apo-opa.co/3CnKLg3), held earlier in May.
According to the Middle East and North Africa Business Aviation Association (MEBAA), the number of business jets operating in Africa is expected to grow by 8% annually over the next five years. Currently, there are 418 jets on the continent, with South Africa having the largest business aircraft fleet, followed by Kenya and Nigeria. The ongoing growth of private aviation in Africa has also benefited the continent’s employment rates, with air transport contributing significantly to 7.7 million jobs and $63 billion in Gross Domestic Product (GDP).
Elsewhere, The 2024 Africa Wealth Report by Henley & Partners (https://apo-opa.co/40yhzxc) reveals that the total investable wealth on the African continent stands at US2.5tn and that the millionaire population is expected to increase by 65% over the next ten years, fueled by strong growth in key sectors such as fintech, business process outsourcing, software development, rare metals mining, green tech, media and entertainment, and wealth management. The ‘Big 5’ wealth markets (https://apo-opa.co/40wbGR6) — South Africa, Egypt, Nigeria, Kenya, and Morocco — collectively account for 56% of Africa’s high-net-worth individuals (HNWIs) and over 90% of its billionaires.
VistaJet offers the world’s most extensive range of business jets and in the past 14 years it has built a strong African network, transforming business aviation in the region. During the East and South Africa Roadshow, VistaJet will showcase the Bombardier Global 7500, the largest and longest-range business jet and offers unbeatable global connectivity, flying up to 17 hours non-stop. Vista has 18 in the fleet – the world’s largest fleet of Global 7500. Precision-engineered wings provide an exceptionally smooth ride in the large cabin, with four separate living spaces, including a permanent stateroom, this jet is perfectly suited for business or a family dynamic. In the first half of 2024, across Africa, Vista’s Global 7500 flight hours increased +33% – this aircraft is becoming increasingly more popular across the continent. The Global 7500 is popular for connecting African cities, such as Cape Town to Accra and Johannesburg to Cairo and international routes such as Africa and Asia, demonstrating a strong sentiment to increasing investment between the African and Asian continents (https://apo-opa.co/4fcKzPk).
An impressive Compound Annual Growth Rate (CAGR) for 20 years has made Vista the largest provider of on demand business flights in the world. And the trajectory is not changing — over the last 18 months, while the private aviation industry as a whole experienced a leveling out in demand following the post-COVID boom, Vista expanded its global footprint and as of July 2024, has gained an additional 50 basis points of total market share year-over-year, with its share of the market rising to approximately 5% of the total market. With an addressable market of over 24,000 business jets around the globe, as well as broader spectrum of aspirational fliers, there is also significantly more scope and opportunity for the Group to capture further market share over the next two decades.
VistaJet’s main expansion plan objective is to enhance Africa’s economic growth by increasing regional investments and facilitating overall growth
In 1H 2024, Vista was once again experiencing exceptional growth – with total flight hours up +14% year-over-year – an incredible result, especially when compared to a global market that contracted by 2% over the same period.
The VistaJet Program membership has been the biggest contributor to this growth, recording +19% growth in Program hours and a +18% increase in number of Members. The first half of 2024 continued this trajectory, marked by:
- Double-Digit Growth in Flight Hours: Vista recorded a significant increase in flight hours compared to 1H 2023, a direct result of Vista’s strategic foresight and market understanding.
- Membership Surge: 2024 has seen a substantial Membership growth as clients gravitated towards Vista’s flexible subscription-based model, reinforcing Vista’s client-first approach.
- Africa Success: The African continent remains a priority market for Vista with impressive growth in the first half of 2024. Africa reported strong flight activity with a +103% increase in the New Program Hours Sold and a +29% increase in total hours flown year-over-year: East Africa specifically experiencing a +46% increase in total hours flown; and South Africa, a +79% increase in total hours flown.
With over a decade of operations in East and South Africa, VistaJet continues to play a vital role in supporting development in these sub-regions by facilitating global investments and connecting decision-makers, corporations, and business executives. Vista’s global fleet of iconic silver and red jets means its African clients will never be stranded with guaranteed availability in as little as 24 hours’ notice, no matter where they are going in the world. Global coverage, covering 96% of the globe also means knowing how to operate in over 2,700 airports, making journeys to every destination safe and reliable. VistaJet’s flexibility is unparalleled for its expanding African client base.
Commenting on the business expansion plans, VistaJet’s President of Europe and Africa, Philippe Scalabrini, stated: “Building on the momentum of the West Africa Roadshow, we are pleased to announce the East and South Africa Roadshow. VistaJet is committed to offering top rate, exclusive services to its extensive client network in this critical region. In response to the growing demand, we have deployed three dedicated aircraft while upholding our exceptional standards. VistaJet’s main expansion plan objective is to enhance Africa’s economic growth by increasing regional investments and facilitating overall growth.”
VistaJet was founded 20 years ago and has established itself as the world’s leading global business aviation company. With a client base consisting mainly of corporate leaders and Ultra-High-Net-Worth Individuals, VistaJet aims to simplify air travel by offering privacy, reliability, flexibility, efficiency, anonymity, and safety. The Cabin Hosts, trained by the British Butler Institute and MedAire, deliver the highest service standards. Flying with VistaJet is a better alternative to ownership – offering a lower cost per hour, and a larger coverage area; as well as preferrable to brokerage – due to higher safety, and unique consistency of service; and often commercial – thanks to scheduling flexibility, and non-stop connections across airports around the world.
Distributed by APO Group on behalf of VistaJet.
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