Private jets were a rare pandemic winner in the otherwise decimated travel business. Based in Malta, privately owned VistaJet grew at breakneck speed after 2019 to become the world’s second-largest flier of private jets. Investors are getting increasingly worried: A VistaJet bond issued last May, which was very oversubscribed, is now selling off. VistaJet’s debt load is also an underappreciated risk for Canada’s publicly-listed Bombardier, its key plane supplier, and the whole market for secondhand private jets. Were VistaJet to sell some of its Bombardier jets to reduce debt, it would put pressure on used prices.

Source: Wall Street Journal January 22, 2024 18:46 UTC