VistaJet chairman Thomas Flohr has launched Vista Global Holding, a group that brings together dedicated fleet operator VistaJet with two new subsidiaries, aircraft leasing and finance company Vista Lease and aviation technology company Tech X. His first move has been the acquisition of the business aviation fleet and commercial operations of North American company XOJet, whose regulated air carrier will continue to be independently operated in a joint venture under US control and leadership. This will bring the total number of employees in the group to over 1,500 in 20 offices worldwide.
XOJet, which has a fleet of 43 branded super mid size business jets and a portfolio of luxury brand partnerships, had disclosed double digit mid-year growth of 12 per cent in total revenue, with on-demand outperforming fractional business. The first quarter showed year-over-year increases of 15 per cent in overall business and 39.5 per cent in off-fleet charter brokerage.
Flohr says: "The journey started when I first saw an opportunity in the fragmented and inconsistent offering across the industry. Vista Global’s mission is to provide customer-centric solutions for every segment of business aviation. 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.”
The newly expanded portfolio of Vista Global companies will offer global flight coverage, aircraft leasing and finance along with technology infrastructure innovation from headquarters at the Dubai International Financial Centre. The launch is backed by a $200 million investment from global private equity firm Rhône Group, a longstanding supporter of Flohr’s enterprises.
TechX's 50 technology specialists will build off and further enhance existing proprietary technology in order to create end-to-end services allowing companies to find customers, manage bookings, track flights and plan trips directly with operators, all on one platform. Furthermore, it provides its partners with technology and data science to deliver a personalised service to customers. Vista Lease will start operations in 2019. It will hold several options for Global 7500 aircraft as well as having the capitalisation to act as principal buyer in the pre-owned segment and then offer its inventory for lease directly to its customers.