VistaJet Earnings Fall As Debt Piles Up
Apr 14, 2024 By MarketDepth
VistaJet is the largest privately held private jet firm globally and is coming under pressure as earnings are down 5% on the year. Earnings fell from $845 million to $801 million as all expenses jumped about 30% to about $684 million. The company was consolidating some previous debt from acquisitions and repairs to the existing fleet.
VistaJet just like many companies saw significant growth over the pandemic but as we are a few years out from the tail end of the pandemic things are starting to get piled on. As inflation costs bite, employee payrolls soar and fuel costs continue upwards its been a year of transition for the company. The company sits at $3.1 billion in debt and up over $100 million on the year.
