An Austrian private jet company has struck a €1 billion deal to buy 40 new planes which will be registered under the Maltese flag.

Vistajet, which yesterday opened a new operations office in Malta which will employ 75 staff, specialises in private flying, mostly for wealthy people.

It has a fleet of 35 planes and prides itself as being the “world leader in private aviation”.

Thomas Flohr, the Swiss-born founder of the company, said he had been negotiating the company’s move to Malta for the past year, and praised the Government for its commitment and help.

He said Malta was an ideal location for its European operations centre.

“Malta boasts a solid English-speaking workforce as well as efficient infrastructure backed by a very service-oriented government that is focused on growing the aviation industry presence on the island,” he added.

Mr Flohr said the company is looking to invest more on the island and expand its fleet.

Prime Minister Joseph Muscat praised the company’s decision to open its offices in Malta and pledged to attract more investment of this kind.

Vistajet owns and operates the largest privately-owned Bombardier business aircraft fleet – the majority of which are large-cabin, long-range Global and Challenger jets.

The company has already registered some of its aircraft in Malta with another – a Global 6000 jet – to be added by the end of this month.

The company’s agreement to buy 40 new aircraft will see Vistajet adding 10 new planes a year from 2014 onwards.

A spokesman for the company said that Vistajet will be recruiting more Maltese employees in the coming years.