November 22, 2024
Dubai-based Vista Global Holding will expand the company’s offerings from jet cards and on-demand charter.
VistaJet founder Thomas Flohr has launched Vista Global Holding based in Dubai calling it “a revolutionary aviation group headquartered at the DIFC (Dubai International Financial Center) which will spearhead the consolidation of the fragmented and expanding business aviation market.”
According to a press release, Vista Global will be built on four pillars with complementary services for consumers and trade. The release stated, “It is the first group that has built the scale and the know-how to offer the entire set of private flying solutions for its clients, setting a new global benchmark for the industry.”
The news release said Vista Global’s fleets “will provide every customer with asset-lite solutions to fly point to point anytime, anywhere at a moment’s notice – either with guaranteed aircraft availability or on-demand.” Additionally, Vista Global will offer worldwide leasing and financing services for customers looking to purchase dedicated aircraft and will also support aviation companies looking to improve services to their clients through technology, “providing an end-to-end platform in a very fragmented global operator marketplace.”
“Vista Global has been my vision ever since I started VistaJet in 2004. I wanted to create something truly new, something that would industrialize and consolidate the fragmented business aviation market across the entire range of flight service offerings,” Thomas Flohr said in the release. “It is a historic moment for aviation and is the first of its kind. Vista Global is unrivaled in its service to offer all clients the full range of business aviation services on a global scale – flights, technology, finance.”
Private equity firm Rhône Group is investing an additional $200 million to bolster Vista Global’s balance sheet with a view toward acquisitions, the company said.
Steven Langman, Chairman and Co-Founder of Rhône Group, said, “Our investment in Vista Global builds on the relationship with Thomas Flohr and the support for VistaJet we announced last year. In Vista Global, we see the organization that will transform the nature of the business aviation sector and the one that is best-placed to take advantage of the changes of the industry. Vista Global’s business model and strategy give it a superior position in the marketplace. We could not be more pleased to have invested in such a dynamic industry pioneer.”
Vista Lease will start operations in 2019 and will hold “several options” for Bombardier Global 7500 aircraft, as well as having the capitalization to act as a principal buyer in the pre-owned segment and then offer its inventory for lease directly to its customers, who seek a dedicated aircraft solution. The release said, “The company will disrupt an unnecessary and dated process which involves customers being forced through a broker to broker chain and will look after an addressable market of over 7,000 super midsized and ultra-long-range jet aircraft.”
TechX is an aviation technology division with 50 specialists who will build out and enhance existing proprietary technology. The company’s mission is to create end-to-end services to allow companies to find customers, manage bookings, track flights and plan trips directly with operators, all on one platform. Furthermore, TechX provides its partners with technology and data science to deliver a personalized service to their customers, effortlessly.
Vista Global plans to expand its fleet within the next three years, it said.
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