VistaJet breaks records with its $7.8bn Bombardier plane order

 
Marion Dakers
HIGH-END aviation firm VistaJet has placed a $7.8bn (£4.87bn) order for up to 142 aircraft from Canadian manufacturer Bombardier.

The deal, which sent Bombardier’s shares up eight per cent, is the firm’s biggest ever business jet order.

“By any standard, this is a historic order for Bombardier,” said Steve Ridolfi, president of Bombardier Business Aircraft, in a statement.

VistaJet founder Thomas Flohr said the purchase “is the most significant milestone for VistaJet and is a testimony to our successful strategy that focuses on global coverage”.

He said the extra aircraft will allow the plane-hire firm to cover greater distances.

The eight-year-old company has placed a firm order for 56 jets worth $3.1bn at list price, with options on 86 more planes.

Bombardier said it will start delivering the aircraft in 2014.

Parts for 50 of the Global 2500 and Global 5000 models will be built at Bombardier’s Belfast factory.

VistaJet’s prices range from €7,000 to €18,000 an hour. Customers also have the option to buy a plane and lease it back to VistaJet for a management fee.

The firm aims to double in size between 2011 and 2015.