November 22, 2024
Vista is hoping private jet owners ready to sell their airplanes will transition to VistaJet’s Program for their private flight needs.
Vista Global Holding announced that it will be centralizing and expanding its aircraft trading service offerings.
The initiative will have a dedicated focus on worldwide trading of business aircraft across corporates, private owners, and the brokerage market.
According to a press release, “Vista Global Trading will transform the buying and selling of assets within business aviation.”
It will enable aircraft owners globally to move to VistaJet’s Program jet card membership “by easily and quickly divesting their current aircraft to Vista Global Trading.”
Vista said the move will also cut lead times in a highly fragmented market through a global infrastructure of experts and rapid decision-making.
It will also provide support to existing aircraft owners, operators, and brokers by integrating institutional expert knowledge through comprehensive technology and analytical market support.
Vista Global Trading will utilize Vista’s existing aircraft management offering and its full-service aircraft brokerage.
Vista Aircraft Management, the group’s private aviation management company for owners with ultra-long range, large cabin, and super-midsize aircraft, will become an ancillary charter management arm of Vista Global Trading.
Jet Edge Partners will continue to operate as a separate U.S. aircraft sales and listing company led by Kevin White. It will have a close partnership with Vista Global Trading as its subsidiary aircraft brokerage.
Vista Global Trading will be led by Bill Papariella, Chief Business Officer at Vista.
Papariella joined in 2022 following its acquisition of Jet Edge. He is also a member of the Vista group’s Executive Committee.
Thomas Flohr, Vista’s Founder and Chairman, said, “The launch of Vista Global Trading confirms Vista’s position as the driver of innovation and change and is the start of an exciting new chapter for the global business aviation industry.”
He added, “We are transforming the trading marketplace worldwide to enable valuable transactions to occur when speed and market appropriateness is critical whilst giving access to asset-free flying solutions globally through Vista’s subscription memberships.”
Papariella said, “Trading will benefit aircraft owners, large corporations, Vista members, global fleet operators, and the brokerage community by providing them with further opportunities to trade their assets.”
He added, “It will help maximize the efficiency of their assets during their lifecycle and enjoy seamless and quick access to Vista’s asset-free subscription Program, securing guaranteed availability on a global fleet of over 360 aircraft by trading in their asset to us.”
Competitor NetJets has a similar brokerage arm – QS Partners, also designed to help private jet owners who want to sell their airplanes and transition into its fractional program.
The move comes as activist groups are once again targeting private aviation.
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