Vista Global Explained

Vista Global
Type:Private
Industry:Aviation
Foundation:2018
Location:Dubai, UAE

Vista Global Holding Limited is a private aviation group based in Dubai. It was founded in 2018 by Thomas Flohr.[1]

Overview

Vista was launched on September 20, 2018 with support from the global private equity firm, Rhône. Rhône invested an additional $200 million in September 2018.[2] Vista became the parent company of VistaJet, a global business aviation company that Flohr founded in 2004.[3] A week after Vista's launch, it acquired the on-demand private jet company, XOJET.[4] [5]

In April 2019, Vista acquired JetSmarter, a technology-enabled service provider specializing in the aviation industry,[6] [7] [8] and in June, it merged XOJET with JetSmarter and rebranded the companies as XO.[9] [10]

By 2020, Vista acquired Red Wing Aviation, Apollo Jet, and Talon Air.[11] [12]

In February 2022, Vista acquired Air Hamburg, the private jet operator with the highest number of flights across Europe.[13] [14] [15] In March, it acquired Jet Edge, a private aviation company based in North America, offering jet cards and charter flight services.[16] Over 800 Jet Edge employees also joined Vista.[17]

In April 2022, Fitch Ratings assigned Vista Global's $500 million notes a final BB- rating with a Recovery Rating of RR3.[18]

As of February 2024, Fitch Ratings assigned Vista’s IDR at "B+" with a recovery rating of RR3.[19]

In 2024, Vista’s founder Thomas Flohr alleged in legal filings that a rival company and Timothy Horlick, a British financier, launched a smear campaign against Vista. Flohr claims that AirX founder John Matthews used a burner email address with a fabricated identity to send emails to business contacts of VistaJet, bypassing court-ordered confidentiality.He also alleges Matthews created a WhatsApp group in March 2023, titled VistaComms, which was used to discuss with colleagues the use of burner emails to share confidential information about VistaJet with lenders, business partners, and journalists.[20]

Notes and References

  1. Web site: Press . 2023-01-23 . Dufour Aerospace closes new investment from Vista to accelerate growth . 2023-02-02 . sUAS News - The Business of Drones . en-gb.
  2. Web site: Alves . Joice . Rhône Group Invests $200 Million in Aviation Business . 2023-02-02 . www.penews.com . en-GB.
  3. Web site: Trautvetter . Chad . VistaJet's New Parent Aims To Defragment Bizav Market . 2023-02-02 . Aviation International News . en.
  4. Web site: Arvai . Ernest . 2022-04-01 . VistaJet Acquires Jet Edge in Consolidation Wave . 2023-02-02 . AirInsight . en-US.
  5. Web site: Siebenmark . Jerry . Vista Global Notes Record Growth in First-half 2021 . 2023-02-02 . Aviation International News . en.
  6. News: 2019-04-10 . Vista Global Buys an Uber For Private Jets . en . Bloomberg.com . 2023-02-02.
  7. Web site: Wynbr . James . t . Vista Global To Acquire JetSmarter . 2023-02-02 . Aviation International News . en.
  8. Web site: Frank . Robert . Private jet company Vista Global to acquire JetSmarter, once touted as the Uber of private jets . 2023-02-02 . CNBC . 10 April 2019 . en.
  9. Web site: Gollan . Doug . Vista Global Rebrands JetSmarter And XOJET To XO, While PrivateFly Launches Fixed Rate Flights In The U.S. . 2023-02-02 . Forbes . en.
  10. Web site: Vista Global combines XOJet and JetSmarter into XO . 2023-02-02 . ch-aviation . en.
  11. Web site: Kamel . Deena . 2022-02-21 . Vista acquires European charter operator Air Hamburg amid industry consolidation . 2023-02-02 . The National . en.
  12. Web site: TravelNewsAsia.com . Vista Global to Acquire Apollo Jets . 2023-02-02 . Travel News Asia.
  13. Web site: Vista Global to Acquire Jet Edge, Expanding N. American Presence . 2023-02-02 . www.businesstravelnews.com . 31 March 2022 . en.
  14. Web site: 2022-02-23 . VistaJet acquires rival Air Hamburg amid business aviation boom - AeroTime . 2023-02-02 . en-US.
  15. Web site: Vista Global Agrees to Acquire Air Hamburg . 2023-02-02 . www.businesstravelnews.com . 22 February 2022 . en.
  16. News: 2022-03-31 . Vista acquires Jet Edge services as private flying boom fuels M&A . en . Reuters . 2023-02-02.
  17. Web site: Siebenmark . Jerry . Vista Finalizes Jet Edge Acquisition . 2023-02-02 . Aviation International News . en.
  18. Web site: Fitch Rates Vista Global's USD500m Notes Final 'BB-' . 2023-02-02 . www.fitchratings.com.
  19. Web site: Fitch Affirms Vista Global at 'B+'; Outlook Stable . Fitch ratings.
  20. Web site: Meddings . Sabah . WhatsApps, Fake Names and an Alleged Conspiracy Against VistaJet . Bloomberg.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Vista Global".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.