Having launched Vista Global in the Dubai International Financial Centre as an “investor vehicle” that will “spearhead the consolidation of the fragmented and expanding business aviation market”, VistaJet founder and chairman Thomas Flohr announced on 20 September that it was acquiring US-based charter firm XOJet for an undisclosed amount.
Alongside the Malta-based VistaJet charter operation, Vista Global has launched two new subsidies – Vista Lease, a business aircraft leasing and financing company, and TechX, an aviation technology firm offering end-to-end solutions for both customers and operators. The move was backed by Rhône Group, a longstanding supporter of Flohr’s businesses, which injected an additional $200 million to strengthen Vista Global’s balance sheet.
XOJet is the third-largest air charter operator in the US by flying hours, with just over 40 Bombardier Challenger 300s and Cessna Citation Xs. To comply with US ownership rules XOJet will be managed as a joint venture and will retain its identity. The intention is to expand XOJet to become a global air charter operator as Vista Global’s value proposition aimed at customers flying less than 50 hours a year. VistaJet will continue to be aimed at the premium charter customer who flies 50 to 600 hours per year, offering both guaranteed availability and younger super-midsize and large-cabin jets.