VistaJet continues global expansion with Russian agreement

• Russian partnership signed with Dexter Aviation
• VistaJet will establish itself as the only foreign operator of long-range, large cabin aircraft flying point-to-point within Russia
• Builds on leading presence in Moscow to service growing demand within and across Russia and CIS Nations
• Additional aircraft to be deployed for Russian market
• Deliveries from US$2 billion order backlog to facilitate expansion
• Russian agreement comes as company confirms successful implementation of broader expansion strategy
• Russian agreement follows on from historic China announcement
• VistaJet on track to double size of business by 2015

VistaJet, the world’s leading luxury aviation company outside of the Americas, announces that it has signed an agreement with Dexter Aviation, Russia’s first and only nationwide air “taxi” company. Dexter is ultimately owned by the Fesco/Industrial Investors, one of Russia’s leading companies and founded by Sergey Generalov.

The agreement will see VistaJet, which already flies to more key Russian destinations than any other foreign operator, rapidly expand its presence in the country including point-to-point flights within Russia with a particular focus on meeting demand for flights to and from the far-eastern Russia, Siberia and CIS countries. VistaJet will also open a base in Moscow.

This agreement follows an upsurge in demand from Russian entrepreneurs and businesses and will see VistaJet aircraft permanently based within Russia, making VistaJet the only foreign business aviation operator of long-range, large cabin aircraft in the country.

VistaJet continues to lead the industry, becoming the first commercial operator of Global 6000 aircraft and has taken delivery of the first two of these aircraft out of an order of 10. The Global 6000 is considered to be one of the most advanced and desirable long-range premium aircraft available.

“This announcement is a further important milestone for VistaJet. Russia has always been a major market for VistaJet and the partnership with Dexter allows us to now also build a physical presence in this fast growing territory. Russia epitomises the increase in founder-owned commodity and natural resource companies, currently driving the rapid growth of luxury aviation in the region. VistaJet is connecting entrepreneurs with their next major project, their next business partner. Entrepreneurs cannot afford to spend up to two days flying commercially between remote locations either underserved by commercial airlines or from where direct routes to other key business locations do not exist. With our modern, state-of-the-art long-haul fleet, VistaJet is directly connecting locations such as Russia and Africa in up to a third of the time, and in style. Our Russian customers, many of whom run major global enterprises and are extremely discerning, have always admired our personalized, luxury service. This agreement will allow us to fly them further and more often within their home country.”

Thomas Flohr, founder and chairman of VistaJet

“We are delighted to be partnering with VistaJet in a move which will complement and extend our existing operations. We have established Dexter in a short period as Russia’s preferred air taxi service and our highly discerning clientele will appreciate the luxury and service VistaJet will bring to their longer-haul flights both within Russia and internationally.”

Sergey V. Generalov, founder and major shareholder of Fesco/Industrial Investors

“This agreement is a win-win for both companies. VistaJet will soon be flying point-to-point within Russia for the benefit of its customers whilst Dexter’s customers now have the ideal solution to their long-haul requirements both in and out of Russia.

Mats Leander, co-chairman of the advisory board at VistaJet

VistaJet’s fleet of aircraft which, following recent deliveries, is over 30-strong with a $2 billion order backlog, is set to double by 2015 to over 60 mid- and large-size long range-aircraft. Importantly, the growth in the fleet will not be at the expense of maintaining the average fleet age at less than two years and with no single aircraft being more than three years old.

Ian Moore, chief commercial officer of VistaJet added, “No one else in the private business aviation sector is taking delivery of brand new aircraft at the rate we are, nor is anyone more committed to maintaining the youngest fleet in the skies. It is a bold step and another example of our commitment to providing a unique customer experience.

The Russian agreement follows a recent Memorandum of Understanding in China with Beijing Airlines, reiterating VistaJet’s successful implementation of its broader strategic expansion across the BRINC* countries and other fast-growth developing markets including the Middle East, wider West African regions and China as it seeks to double the size of the business within four years.

Thomas Flohr concluded, “Russia has long been a priority market for us, one where we are seeing significant levels of demand for our luxury aviation services. With the agreement we have announced today, we now have the opportunity to build on our already leading presence in Russia and significantly extend our service coverage across the country and the wider region of Siberia/Asia and ultimately China.”