VistaJet signs record $7.8B deal with Bombardier
VistaJet founder and chairman Thomas Flohr explains
- Duration 5:09
- Date Nov 30, 2012
VistaJet founder and chairman Thomas Flohr explains
Also in this playlist...
This transcript is automatically generated
Or -- -- feel like from -- Los Angeles today I you're looking at LAX so we're travelers are taking to the skies but they are not the only ones taking off you know private TV nation knows fancy private -- that -- -- consider this.
Europe's this -- -- announcing be sitting down for this.
What's some people what -- standing up but if you are sitting down.
Get -- this.
An eight billion dollar deal to buy 56.
Bombardier jets options to buy up to 86.
Jets and when you're buying.
That many jets and spending that much money you see a booming business but also use C a ticking clock.
I want to talk about both with the Vista did -- chairman Thomas floor -- you Thomas thank you for coming Korean male.
I'm OK and obviously your business is -- failure would be -- -- down this type of money but I'm wondering if part of your decision was based on what's going on.
In Washington or deadline base or head of possible storm what.
Not at all we see unprecedented growth -- not all over the world really in the -- regions we're looking at China we're in Russia.
-- Africa and today the executives around the globe to -- five point two point.
Well really you know that connecting the cities which today there's no commercial aviation resolution so.
We're seeing North American companies using the subject.
We've -- European companies flying point to point around the to opened.
Hey it's really that growth we have experience over the last couple of years.
There -- look at a 2010.
We grew 20% for the top line revenue 2011.
Are 22% in 2012 that accelerated to 25% growth.
And if you do the simple math that equates to roughly you know doubled in the company every three years and we have -- -- in place in 2014 through 2018.
And -- notre really fills that gap of suppose we proceed in the in the coming future.
That's a lot of Windsor is live it to the deadline -- in a lot of companies as you know taxes are likely gonna go up in this country quite a bit on -- one.
Dividend taxes are gonna go up a -- gains tax is gonna go up.
-- that this is an area of a unique to your field at Disney -- David Blitzer just announced.
That it is going to be -- hiking its annual dividend.
25% to 75 cents a it's the latest company.
To to move ahead of what will likely be a dividend tax heightened.
Separate issue for you I know but do you worry.
That all of this is going to slow.
Business down in America.
-- -- -- -- -- We see the US getting stronger and stronger you know clearly there's good housing data.
On the we see that growth prospects in the country better than any time over the last couple of years put the fiscal cliff really affect the economy yes it period.
But there's a certain.
Fair amount of -- of judgment from our side that the US will get over that fiscal cliff at the same time you had a meet to leave that to change in China.
It happens once every ten years home we do fly -- -- executives around the world into China out of China.
Armed and we believe that by the time you know the first quarter is over.
That a lot of that political uncertainty which was in place you know for a fair amount to -- -- during 2012 will be.
You know will be out of the way and and to China growth will pick up again early signs of that is in place.
And but again it's really that global hunt for resource is which is driving our business and -- that is as it relates the US companies the same thing.
So for instance -- go.
Only business is booming right I mean it is something going out private jets in general I -- -- that hassle of flying commercial whatever but but but it.
It's more than just the pedigree CEO or or movie or entertainment crowd that that's -- It -- it's really use as a business tool so I think we've got to do away with this image off.
Off off you know something much areas and and and and then flashy what what it is it's a business -- -- and he gets it gets except -- very very effective.
From ADB to C around the world and and we are.
Flying these point to point destinations.
And and that's really didn't efficiency which we bring into the market.
What -- this fractional ownership right the fact that doubt we'd be somebody's over the years.
Like yours and as a -- doubts and you know you get a piece of -- plane -- member of other states and or -- they have you know cards that allow them access to plane anytime I think that has somewhat democratize student and boosted demand.
And that that's correct that the fractional ownership model who is something which we see as -- -- a broken business -- people don't wanna invest into these assets anymore.
The very happy that we keep -- and I'll balance sheet.
And by the S has been on our balance sheet -- companies can invest.
They're cash and a liquidity in to grow their own businesses so they need it to us running it in 24/7 threes -- the 65 around the globe.
And then I think those are some of the efficiencies we bring to the marketplace.
Our -- or pleasure congratulations again thank you.