XO’s parent company, Vista, to acquire Jet Edge
XO PARENT COMPANY, VISTA, STRENGTHENS ITS GLOBAL AND U.S. LEADERSHIP
WITH THE ACQUISITION OF JET EDGE’S PLATFORM
Dubai, March 31, 2022: Vista Global Holding (Vista), the world’s leading private aviation group, announces that it has entered into an agreement to acquire the private aviation services platform of Jet Edge, the fastest-growing North American charter operator.
Founded in 2011, Jet Edge is an integrated charter, management and brokerage platform and a leading U.S. provider of large cabin and super-midsize private jet charter and aircraft management services. At the time of this announcement, Jet Edge has a run rate of 60,000+ yearly flight hours, exclusively in the large-cabin and super-midsize category. Following the completion of the transaction in Q2 2022 Vista expects its fleet availability to expand to approximately 350 aircraft.
The move highlights Vista’s continued investment into the U.S., the largest and fastest-growing region, and follows the recent announcement of a deal with AIR HAMBURG, balancing its fleet to respond to the significant demand it experienced across the two the largest aviation markets.
Thomas Flohr, Vista’s Founder and Chairman, said: “Vista’s commitment is to provide the most comprehensive range of flying solutions in private aviation. Today’s announcement brings significant value to our clients, with access to a further 100 aircraft, expanding our fleet at a time of unprecedented demand for business aviation services.
“Our vision is to provide the best services, anytime and anywhere, for every client. Bringing Jet Edge, the fastest-growing large-cabin and super-mid on demand company in the U.S., into the Group scales up our presence in North America, giving Vista the opportunity to turbocharge growth in the most dynamic business aviation market. 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.
“I am also delighted to welcome Bill Papariella to Vista’s executive team as Chief Business Officer. As we continue to revolutionize the private aviation market, we are ready to integrate the extensive expertise of our new colleagues across the whole Jet Edge family. This acquisition is the latest example of Vista’s ability to capitalize on key opportunities in the highly fragmented and fast-growing business aviation world.”
Bill Papariella, Jet Edge CEO, said: “Vista is, without a doubt, the best operational platform in private aviation, and it aligns with our company’s promise of safe operational service and a superior flight experience. Thanks to industry-leading technology, the most coveted global fleet and the personal expertise of everyone on the team, this merger takes the Jet Edge platform to the next level overnight. 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 iconic brands VistaJet and XO.
“We are proud of the personal relationships we have built with each one of our Reserve Members and our Aircraft Owners — this has been the main driver behind our tremendous growth in the past few years, at a time when aircraft availability was at a historical minimum. We cannot wait to be able to offer them additional value through our integration with Vista. I couldn’t be more proud of the hard work of our teams, and I am excited about our long future together as a Vista company”.
The values of maximum safety and customer service excellence are critical for both organizations and the acquisition of the private aviation services platform of Jet Edge is the latest chapter of a longstanding partnership between the company and XO, VistaJet and Apollo Jets. The acquisition brings together two long-established companies with the shared vision of delivering the best flying solutions and experiences to their Members.
The merger is the latest step in Vista’s relentless transformation of the highly fragmented business aviation ecosystem. Vista’s maintenance services in North America will expand with the acquisition of Jet Edge’s Part 145 maintenance facility, located strategically on the West Coast. It will provide a full suite of maintenance services to a wide range of aircraft types, augmenting the maintenance capacity across the U.S. and securing better access to parts. The acquisition will also provide two branded lounges in Van Nuys and Teterboro, ready to welcome all guests departing from these strategic terminals.
In accord with U.S. DOT requirements, Vista will acquire Jet Edge aircraft, hospitality and maintenance facilities, while its U.S. strategic operating partner XOJET Aviation will acquire a majority stake of the Part 135 certificates of Jet Select and Western Air Charter. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to Jet Edge.
Vista Global Holding Limited (“Vista”) does not own or operate any aircraft. All flights are performed by FAA-licensed/DOT-registered EASA or U.S. certified Vista group direct air carriers and/or partner operators. Vista holds non-controlling minority stakes in XOJET Aviation, GMJ Air Shuttle, Red Wing Aviation and Talon Air.