VistaJet Completes Acquisition of Bombardier Skyjet International

VistaJet has acquired Skyjet International, a leading business aviation company with offices in London, Hong Kong and Dubai.


ZURICH, Switzerland, July 1 /PRNewswire/ --

- VistaJet Becomes Second Largest Business Jet Company Outside North America; VistaJet Will Generate Over 25,000 Hours Worldwide

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 Programme 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 emphasizes, "VistaJet remains committed to a seamless integration of operations and services for the benefit of our customers. Skyjet International's jet membership programme perfectly complements our innovative Flight Solutions Programme. 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 per cent increase in revenues for this year and expects to generate approximately 80,000 flight hours by 2012.

ABOUT VISTAJET

VistaJet is a privately-owned company headquartered in Switzerland. VistaJet is Europe's fastest growing business jet company offering revolutionary business aviation solutions through its one of a kind Flight Solutions Program. The VistaJet fleet will comprise more than sixty-five medium to ultra-long range, state of the art jets with an average age of less than two years. VistaJet operates a diversified fleet meeting the full range of customer needs. The current fleet includes Learjet 40 XR* and Learjet 60XR* aircraft, Challenger 300*, Challenger 604*, Challenger 605* and Challenger 850* jets, and the Global Express XRS* jet. Three Airbus Corporate Jets (ACJ) will be delivered in 2010. News and information is available at http://www.vistajet.com.

ABOUT SKYJET INTERNATIONAL

Launched in March 2002 as Flexjet* Europe and later rebranded, Skyjet International established itself as the world's first truly global business jet charter service. Consolidating some of the world's leading charter operators into a single network, Skyjet International, based outside London - and with offices in Dubai and Hong Kong - provides a variety of innovative private jet travel options.

*Either registered or unregistered trademarks of Bombardier Inc. or its subsidiaries

For more information or to book a trip, call +44-1252-526-630, email info@sje@aero.bombardier.com or visit http://www.skyjetinternational.com

SOURCE VistaJet International Ltd and Skyjet International

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