Vista Acquiring Jet Edge In Bid To Expand U.S. Foothold
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Vista Global Holding is set to greatly expand its U.S. footprint through the acquisition of Jet Edge, a deal that the Dubai-based charter and aircraft management company announced today. The deal is expected to close in the second quarter.
Under the acquisition of the Van Nuys, California-based integrated charter, aircraft management, and brokerage provider, Vista will snag a fleet of 100 super-midsize and large-cabin Bombardier and Gulfstream twinjets, as well as Jet Edge's Part 145 maintenance facility in Van Nuys and branded hospitality lounges at Van Nuys and Teterboro airports. Additionally, Vista’s XOJet Aviation will acquire a majority stake of Jet Edge’s Part 135 certificates under Jet Select and Western Air Charter.
“Bringing Jet Edge into the group scales up our presence in North America, giving Vista the opportunity to turbocharge growth in the most dynamic business aviation market,” said Vista founder and chairman Thomas Flohr. “It also means expanding our offering and presenting our members with the chance to fly on the largest fleet of Gulfstream aircraft available for charter.”
With the Jet Edge fleet, Vista will have more than 340 aircraft, including the flagship Bombardier Global 7500, the 10th copy of which Vista took delivery on Tuesday. Jet Edge was the seventh-largest charter operator in the U.S. by flight hours in 2021, according to JetNet. The combination with Vista's XO would make it the second-largest charter operator in the U.S. by flight hours.
Jet Edge CEO Bill Papariella will serve as Vista Global’s chief business officer as part of the acquisition, and Jet Edge’s management team will remain in place, according to Vista. “This merger takes the Jet Edge platform to the next level overnight,” Papariella said. “Our members will now get access to an extensive global fleet, programs, services, and a network able to fly them anywhere in the world. Our aircraft owners will be able to take advantage of the enormous charter demand, global infrastructure, and procurement advantages that Vista generates via its brands VistaJet and XO.”
Source: AIN Online
