VistaJet, the global private aviation company founded by Swiss financier Thomas Flohr, continues to expand with the recent news that it has acquired California-based XOJet. The deal will add 43 aircraft to VistaJet’s existing fleet of more than 70 large private jets.
Under the terms of the acquisition Vista Global, the parent of VistaJet, will take over both the XOJet fleet and the company’s commercial operations. VistaJet’s advanced technology and global audience are expected to help speed growth at XOJet, giving passengers an increased number of options when flying, whenever they choose to fly, and wherever they choose to fly.
XOJet
Formed in 2006, XOJet quickly established itself as a leader in the US private aviation arena. By the time of its tenth anniversary, the company had more than 5,000 clients and a stellar safety rating. XOJet offers charter and four membership programs on its own fleet of super-mid Bombardier Challenger 300 and Cessna Citation X private jets. More recently it has added a full-service private aviation brokerage with access to over 1,500 private jets in all cabin classes. The company’s revenue rose by 12% in the first half of 2018, including 22% growth in the off-fleet charter business.
Acquisition
Speaking about the acquisition, Thomas Flohr said, “Vista Global’s mission is to provide customer-centric solutions for every segment of business aviation and today’s announcement is a major step in that direction. This acquisition is the perfect addition to our global business. XOJet’s strength in North America and its reputation for offering great value perfectly complement VistaJet and the other businesses in the group.”
Meanwhile, XOJet CEO and Chairman Bradley Stewart, said, “Becoming part of Vista Global will enable XOJet to achieve our dream of becoming a truly global business, providing us with the very best technology and infrastructure. I believe that Vista Global and XOJet are fundamentally aligned in our commitment to serving clients. I am looking forward to working with the Vista Global team and its companies in the future.”
Vista Global Funding & Launch
The news comes on the heels of Flohr’s other recent announcement – the unveiling of Vista Global. Vista Global Holding officially launched in early September in Dubai, where it will be headquartered. The goal of the company is to consolidate what Flohr views as a fragmented business aviation market. Its launch has been bolstered by an investment of $200 million from private equity firm Rhône Group, who had also invested $150m last year.
Speaking on behalf of Rhône Group, Chair and Co-Founder Steven Langman said, “In Vista Global we see the organization that will transform the nature of the business aviation sector and the one that is best-placed to take advantage of the changes of the industry. Vista Global’s business model and strategy give it a superior position in the market place. We could not be more pleased to have invested in such a dynamic industry pioneer.”
Flohr said that Vista Global has been a part of his long-term dream: “Vista Global has been my vision ever since I started VistaJet in 2004. I wanted to create something truly new. It is a historic moment for aviation and is the first of its kind. Vista Global is unrivaled in its service to offer all clients the full range of business aviation services on a global scale – flights, technology, finance.”
Leases & Other Services
Vista Global will offer a variety of solutions for the private air traveler, including the VistaJet program where clients are guaranteed access and pay only for what they need. Other services will include Vista Lease, offering global leasing and financing, and TechX, which offers customers and operators a range of cutting-edge technology solutions.
VistaJet was founded in 2004 and expanded into the US market in 2013. By 2017, the company had completed 100,000 flights and visited 1,489 airports in 187 countries, with growth showing few signs of slowing. The VistaJet fleet of Bombardier Global and Challenger jets allows travelers to fly just about anywhere with guaranteed availability and service in 96% of the world. Vista Lease is expected to launch in 2019, and the Vista fleet will be expanding over the course of the next three years. Including the acquisition of XOJet, Vista Global will have more than 1,500 employees in 20 offices worldwide.