The acquisition of Vault Aviation by Leviate Air Group follows last year’s acquisition of a 60% interest in Chairman Aviation.
Leviate Air Group has acquired Vault Aviation, a private jet charter company.
Both are based in Dallas, Texas.
Leviate Air Group CEO Luis Barros tells Private Jet Card Comparison their crosstown neighbor was of interest because of its “strong presence in the sports, entertainment, and high-net-worth client segments.”
Barros says Vault adds approximately $15 million in gross sales to Leviate Air Group’s air charter division, which he expects to reach $50 million this year.
He adds:
‘This acquisition represents a pivotal step in Leviate Air Group’s growth strategy. Vault Aviation has built a trusted reputation among some of the most discerning clients in the industry, and we are proud to integrate their expertise and client relationships into our organization. Together, we will continue to raise the bar for service and innovation in private aviation.’
Barros states that Leviate’s expertise in aircraft sales and management is expected to propel the overall group’s sales to over $100 million within the next two to three years.
Many of Vault’s clients were graduating from pure charter clients into aircraft ownership.
At the same time, they still needed supplemental lift charter solutions.
Per the announcement:
‘This strategic acquisition further solidifies Leviate Air Group’s position as a premier provider of bespoke private aviation solutions while expanding its reach into specialized markets that demand the highest levels of service, discretion, and flexibility. The integration of Vault Aviation’s client base with Leviate’s operational capabilities through their FAA-certified aircraft fleet and sales & acquisitions divisions brings an established roster of sports professionals, talent, and affluent clients under the Leviate Air Group umbrella, reinforcing its mission to deliver unparalleled travel experiences.’
Vault President Paul Taskalos says, “Joining forces with Leviate Air Group offers Vault Aviation’s clients an immediate gateway to a full suite of aviation services, including aircraft sales and acquisitions, aircraft management, and priority access to Leviate’s growing fleet.”
Barios says the Vault brand and its guaranteed rate jet card will continue.
At the same time, Leviate has transitioned to a new jet card program under the FlyMore+ banner.
It provides for wholesale pricing.
You pay a $33,000 fee and then can book up to $275,000 in charter flights on a wholesale rate basis.
Both the Vault customer base and the new Leviate charter membership program are heavy users of super-midsize and large cabin aircraft, Barrios says.
He believes that the customer segment isn’t well served by traditional category jet cards, as they have particular aircraft type, configuration, vintage, and connectivity requirements.
Barros says the company is continuing to build via focus.
Partner Randall Mize leads aircraft sales.
Rob Rosenberg is now president of Leviate Aircraft Management.
Michael Blume will work with the Vault team to build the company’s ad hoc charter and jet card segment.
Barros says his focus will be on finance and more acquisitions.
Last October, Leviate Air Group acquired a 60% interest in Chairman Aviation.
(Editor’s note: An earlier version of this story incorrectly stated that the sales number for Leviate Air Group was for the entire company. It now correctly states it refers to its air charter division.)