XO's parent company Vista accelerates industry consolidation with the acquisition of AIR HAMBURG
Mar 1, 2022
VISTA ACCELERATES INDUSTRY CONSOLIDATION WITH THE ACQUISITION OF AIR HAMBURG, EUROPE’S LEADING CHARTER OPERATOR
- Acquisition of AIR HAMBURG strengthens Vista’s position across European and Middle Eastern markets;
- On a combined basis, the transaction would see Vista increase flight hours by ~30% globally, and have a ~15% market share of the global charter market;
- 44 additional aircraft available to Members across VistaJet and XO fleets, bringing Vista’s total global group fleet to over 240 aircraft, including owned and managed;
- Experienced AIR HAMBURG management team remaining in positions;
- Transaction expected to be completed in the first half of 2022, subject to customary closing conditions and regulatory approvals;
- Follows the recent successful integrations of Red Wing Aviation, Apollo Jets and Talon Air into Vista’s global infrastructure.
Dubai, February 21, 2022: Vista Global Holding (Vista), the world’s leading private aviation group, announces that it has entered into an agreement to acquire AIR HAMBURG’s operating platform and maintenance services.
Founded in 2006, AIR HAMBURG has become one of the most well-established full-service private aviation companies, flying to over 1,000 destinations in Europe alone. It is the largest private jet operator by number of flights across Europe, organizing over 18,800 flights for its clients in 2021, and it is second only to Vista in terms of hours flown, recording over 35,000 hours in 2021. As a result, Vista expects an increase of around 30% in flight hours (on a combined basis) globally following the completion of the transaction.
Thomas Flohr, Vista’s Founder and Chairman said: “Today’s announcement brings a renowned institution of the European private aviation market into the Vista group and complements our growth and service offering across Europe and the Middle East. AIR HAMBURG is an impressive, well-established and profitable business with a long-standing track record in best-in-class client service — like Vista, it is known for its reliability and consistency throughout a scaling fleet and high utilization.
“Vista’s leading flying solutions, with a business model based on a floating fleet, allows us to implement a quick, seamless integration. This is yet another demonstration of Vista’s unrivaled commitment to ensuring all our Members have access to the best value flying solutions across the world at any given moment.
It is incredibly exciting to welcome over 650 highly-skilled new colleagues to become part of the Vista family of experts at one of the most exciting times for our industry. It has been an absolute pleasure to work closely with the leadership team to ensure both companies capitalize fully on the global opportunities within the expanding private aviation market.”
The acquisition will augment Vista’s scale and fleet offering across key strategic regions and brings together two long-established reputable companies with the shared vision of delivering the most reliable and consistent flying solutions and best experiences to their Members. The merger is the latest step in Vista’s relentless transformation of the highly fragmented business aviation ecosystem. Following strong global demand for private aviation services from new and existing clients, the move builds on the recent integrations of Apollo Jets, Talon Air and Red Wing Aviation.
In addition to a thriving charter business, Vista will integrate AIR HAMBURG’s world-class EASA Part 145 maintenance hub at Baden Baden Airpark, along with its Executive Handling division and VIP lounge at Hamburg Airport which will be available for Vista Members to use.
Floris Helmers, AIR HAMBURG’s CEO and Managing Director said: “This is an incredible opportunity to remain at the top of the growing business aviation market. Over the last three years we have experienced strong growth, significantly increasing our market share across Europe and beyond. This cooperation between two of the largest operators means increasing our stability and securing further growth for our business, while allowing our team to showcase their strength and competencies to the most sophisticated clientele. We are looking forward to this next chapter in joining the Vista group.”
AIR HAMBURG’s growing private jet operation complements Vista’s owned fleet services, and its 44 contracted aircraft, including Lineage 1000E, Dassault Falcon 7X, and Embraer Legacy models, will be available to all Vista Members.
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