VistaJet is the private jet company for business travelers with the deepest of pockets. Their model is different, but is it sustainable? CNNMoney's Vanessa Yurkevich goes on board to find out.
It is relatively affordable. Like they said the plane itself costs $50mm + staffing costs. They're selling it at 16k/hour. If I only need it for two weeks a year thats just over $5mm. And I don't have to worry about maintenance, storage and logistics.
Rich people can be the cheapest people on the planet, bad tippers, etc. Not all but some. I live in a wealthy neighborhood with a lot of hedge fund guys. They brag about money, where they traveled, their big deal, but check the bill when they have to pay and often question an item , like a drinks their friend put on his tab after telling everyone , "I got the bill".
0.001 percent of actual human population is approximately 760000 people .There's not 760,000 private jets flying... Aviation enthusiast website airliners.net claims that there are some 39,000 planes in the world - commercial and military planes - and that over the course of history, there have been been more than 150,000, excluding very light aircraft.
I Em Gote Here’s how it works, when you want to fly, you call your pilot and pay him, when you’re not flying, don’t pay him. Easy. That’s how I learn it if you want to buy a private jet. :/
Like you said, IF YOU planned everything, a private jet is faster. In the cases of sudden emergencies or spontaneous decisions (which are the cases which are more likely in a hurry), private jets are not faster. You're trying to justify private jets for their speed. But it's not about speed. It's about privacy and convenience. Convenience being a superstar travels with his band and dancers all as a group for different location tours. Privacy, as in you won't run into the Brad Pitt/ Angelina family at the boarding gates of an airport. Speed was never a very important part of Private Jets. It's about luxury, privacy, exclusitivity, and running by your own schedule.
quite good i assume. not many want to become pilot. flying as profession is a no no for so many people. its like your life at stake every single time. that could be stressful. the less people able to do a job, the more money paid for someone willing to do the job.
Hey You That's what they want you to think lol wealthy people don't change out their cars every four years. Read "Millionaire Next Door" by Thomas Stanley
Caleb Paddack um they aren't making me think anything. My mom has had quite a few cars throughout my life and I am only 15. She switches when the miles start getting high. We are not wealthy, my parents are just smart when it comes to finances.
You sound foolish. Airlines are billion dollar investments. A small fleet of 10 commercial planes will cost you 1 billion dollars, and that's just the cost of the planes. That doesn't mean every airline company has a flawless business model.
Takashi nah w that kind of money you have hundreds of millions maybe billions in assets and savings and you're income is well above 25mil + annually you can afford these private jets w that kind of money hence the .001%
Its just such a waste of money. First class is extremely comfortable; unless ur going to be taking a whole group of friends and family on a plane a private jet is not worth it. well thats just me maybe. even if i had a Billion dollars i wouldn't fly a private jet i would fly business or first.
So, the point is to be able to conduct fancy business meetings during the flight, so essentially it is a giant tax right-off for your business that allows you to make even more money closing deals than if you wasted 13 hours on a flight to Bejing with a kindle book.
At 1:38, he basically said, "In 8 hours, we could pay for your 4-year college degree." Whereas people like me will need about 8 decades to pay off a 4-year degree.
I'm sorry, you're paying $32,000 a year for college? Wow.. I'm sorry but you claim to be the best country in the world.. That is a disgusting amount of money.
MrSaxmanJones A University Degree doesn't mean shit these days anyways. Companies are starting to realize that hiring the more qualified candidate with years of experience is better than hiring a fresh University graduate with massive amounts of debt and stress.
"Private jets are for the 1%" Actually that depends on the class of jet. There's actually some _relatively_ affordable jets out there, both in initial purchase price and in operation costs. For example, the Cirrus Vision SF50, while not the cheapest option in regards to initial purchase cost at a whopping 3 million, has a relatively minimal operations cost of around $662 per hour. Compared to some aircraft, that's actually very reachable. So, if you're looking for an aircraft on a relative budget and want to go faster than a prop plane will let you, try the "Light Jet" or "Very Light Jet" categories in the used aircraft classifieds.
Pippin 2026 a 747 at that price is most likely a lease but if im correct dry or wet just means it comes with fuel i could be wrong on the last part but if it comes without fuel its really expensive
Michael Sórm everything in aviation is very expensive because the interiors are hand-made and the equipment must be certified. A coffee machine may cost 15.000 USD. If he choose a fully equipped galley, embedded TVs, multi zone entertainment system, a bed, a shower, etc you better believe it will cost 10 million in the end.
You guys need to realize why high-level people need to be in locations asap. If the companies have nothing to do for extended period of time the company makes no money and goes bankrupt. Every hour and minute becomes important especially when heading hundreds of people.
*this guy one day woke up and told himself let's create something like apple just with jets and nothing really unique in it , just regular jet without even cupholder , poeple going to thing how inovative is that*
56 jets for 7.2bil doesnt add up... a global 5000 is 40-50 mil, g 6000 is 60-70, g 7000 is 70-80, g 8000 80-100. Unless he bought a freaking being 7xx or someshit lol
Its exciting for a little while, but when its so bad you start to feel sick and you know there's absolutely no way to make it stop until you land it can be torture trust me
Llama I get what you mean, but in reality it's not that bad. Private jets such as globals and challengers are able to fly at a higher altitude, therefore there is not alot of turbulence at these altitudes... Then again I've only been on 3 flights, so thats a pretty useless average...
Having friends, business associates and colleagues, as well as past and present employers that “own” biz jets (BTW, there are a lot of “ownership”models, from buying a block of time/capacity from a group of jets that fall into a certain size category or range of cost, straight through those that value ease of access, connivence, prestige, security, what have you, that outright acquire their own aircraft), pretty much all of them are purchased through a special-purpose legal entity, so as to remediate/isolate their aircraft ops risk, from their other enterprises and operating assets.... more over, just like their mega-yachts, the aircraft and crews are utilized to the maximum efficiency, via down-time 3rd party charters and/or philanthropic donation of services, to optimize tax avoidance benefits... if there is a combination of services desired, no-doubt there is a firm willing to provide same.... IMHO
i don't think people realise that it's not the "%1 of rich people" this is catered for but for company/ bank who are willing to pay for the executives, CEOs or clients.
How often do you see famous celebrities boarding your 777? My guess is that these stars, if they can't afford it themselves, they have transportation worked into their deal. Major companies in the music and movie industry probably often procure services from VistaJet.
***** What nonsense are you talking about? Beyonce and her husband have a net worth of almost a billion dollars. She is well above the top 0.01% threshold, maybe even 0.001%.
I hate how they spew the top 1% it does not make sense. How in the actual fuck could you afford a private jet when you make 350k a year? Stop saying the top 1% say a fraction of the one percent.
How is he a horrible man? I mean seriously. By your definition my dad is a horrible man because he sells diamonds and charges more than some can afford. I couldn't travel in this jet in my wildest dreams but this guy runs his business in a way that he gets to make a profit, which is how a business should be run. His just happens to be a very high end business. It by no means makes him a "horrible man"
Hey You His behaviour mainly: Racism, disrespect for women, sleazy approach to political issues, questionable ethics (business practices, philanthropy, taxes) and on and on. Being in business doesn't make you a horrible man, it's the way you conduct yourself, your visions of policies etc, ethics and all that.
Phoenix Scp Your feeble attempt at insulting me is for what reason? The man is a moron, the facts are there. PS: I don't think I mentioned anything to do with 'Hitler'
Ashkan Ahmadi *slow clapping* you've clearly demonstrated your intellectual superiority. I'm being sarcastic, it's idiotic. 1. Maintainence is a thing, you know, right? You know, MAINTENANCE.
Am I the only one who simply doesn't give a fuck about super exclusive luxury? Perhaps because my exposure to it is limited but still, I ain't impressed
you don't own the olane so no its not. might as well fly first class on a high end airline like emirates and save a shit load of money. what your paying for here is to not have any other passengers on board that's it
I work on the Airside ground in Luton Airport, just north of London. Because it's only 20 miles away from London (and it's cheaper to land there than other London Airports) I see Vistajet planes ALL the time! They're really not that nice or that luxurious, compared with some of the other private jet companies that I see. The only benefit is that the planes are really distinctive and it's something of a status symbol.
+OnlineBoatersLicense Pretty sure a billionaire will be above Mariah Carey... And considering she used it then yes, a fucking billionaire is the pinnacle of the 0.001%
***** I understand :) But im talking in the sense that this plane was made for the 0.001% therefore is Mariah Carey (networth 510mil I think) uses it then surely billionaires... you get the point :)
When you get off the plane you'll finalize a business deal for $1.5billion so it won't matter. Rich people like this probably earn $16k in interest every hour.
@@juice12222 You are lucky. In my country 100 bucks of saving account will reduced in the next year, the interest is lower than the bank's adminstrative fee. You must at least have 1000 of saving account to have "interest = bank's adminstrative fee".
This actually isn't that crazy. I have a friend who owns several private jets and has two pilots on salary and it costs him 10k just to get off the ground. So 14k and hour isn't that insane all things considered
Laughable. What planet are you on ? Average household income is less than $50K. If you are making $400K/Year you are in the top 1%. Assets of over $8-$9 Million put you in the Top 1%. They are worth in the hundreds of millions of $.
Most commercial 757's of certain build years have Rolls Royce engines. Rolls Royce jet engines are quite common in aircraft these days. So Trump using them is not that special really, they are competitively priced which is not the case with the exclusive cars they build.
I think there is no point in asking whether that company should be chosen because of its cheapness: in fact, the 0.001% specifically looks for something that is not cheap at all: something that distinguishes you and rest of the world.
You are absolutely right.. She says at approx.. 12 o 13 seconds into the video.. " .00001% " so the title of the video which says " 0.0001% "is WRONG or contradicting.
I think 16k an hour is actually not that bad, someone who fly a lot private can get expensive but for the once in a while traveller is probably less expensive than buying and mentaining a plane
It's a sad story. Vista Jet has its origins in a small family run company from Munich (later Salzburg). They had three (later 5) Cessna Jets and offered a really exclusive, personal and classy service to a small group of regular customers. They knew exactly about the preferences and expectations of their guests and did everything to make each flight a perfect experience. Then big money (a new owner, and a new name) came in. Within months everything that was special and personal was destroyed. All they kept was the Logo (which, by the way, is designed by me - that's why I know this story). They bought dozens of jets, raised the price and, obviously, lowered the quality. Vista jet is no longer exclusive. It's just expensive. People who know a thing or two now choose for other, smaller providers.
But it doesn’t buy us time. You have to book a week in advance and charged heavily for last minute booking because of the small fleet. The value proposition is flying in a 60m dollar plane without paying that money. You’d lose the same few million in three years on depreciation so that is what gives the value
Considering that 1 % of the Earth's population is seventy million people, more people than the population of most countries, yes I can imagine why they could not all fit in that jet. And considering that to qualify for the 1 % you only need about 2644 USD a month to qualify for the top 1 %, I can imagine why most could not afford it either.
Some people saying the 0.xxx% would own their own jets. Well how do you think they got there in the first place? Perhaps they didn’t want to buy a jet which is a major liability if there’s a service which you only pay for what you use.
I have always wondered how the glasses don't fall -off- during takeoff, turbulence, and landing. I mean, I have experienced this firsthand but it still seems unnatural to me.
Most forces act on the largest control surface - the wings, so the majority of bumps vacillate in a vertical direction. Unless the acceleration force felt by the plane exceeds 9.8 m/s^2 downwards (or a lesser amount in a sideways direction, which would be unusual anyway) your glass will stay on the table.
I remember that one morning I asked my mom if I could go on a picnic.When we were on our way she said that we'd go to see a private jet of VistaJet but instead we didn't see it. We flew on it to have a picnic in Paris
Saving you time. How much time are we talking versus flying first class commercial? With WiFi on most commercial flights, you can accomplish most working tasks while in transit. I get the hassle factor of no TSA or connecting flights, but why pay an extra $12k or whatever every time to save a few hours? You could still be working in the air.
VistaJet charges more than anyone for their services. Then why don't they pay attention to detail? A table cloth with fold creases in it! Unimaginable! I would walk off.
