Earlier this year XOJET put itself into play. Last week VistaJet launched a holding company with plans to expand. Voila, a deal!
Earlier this morning Thomas Flohr’s VistaJet announced it had reached an agreement to acquire XOJET via Vista Global, a Dubai based holding company formed earlier this month. The deal covers XOJET’s business aviation fleet and commercial operations, and the release said XOJET’s regulated air carrier will continue to be independently operated in a joint venture under U.S. control and leadership, in accordance with U.S. Department of Transportation criteria. As first reported by Private Jet Card Comparisons, earlier this year XOJET hired Perella Weinberg Partners to explore its ongoing business options.
XOJET recently conducted an extensive interview with its Chairman & CEO Bradley Stewart for the blog of its website providing an annual report from the private aviation provider. Below is the wide-ranging interview in full.
The cost of Light Jets is $5,500 per hour and $6,750 per hour for Mid-Size Jets in XOJET’s new Elite Access private jet membership program.
XOJET has posted on its website some details of its updated Preferred Access and Elite Access programs with the biggest changes around its Elite Access program which continues to require a $200,000 deposit. Private Jet Card Comparisons had previously reported the San Francisco-area based operator and broker was set to launch significant revisions to its programs.
In another blow to the private jet share social network, JetSmarter lost its home rental partner and board member Bradley Stewart, the CEO of XOJET
So the news about JetSmarter this week is that its short-lived entry into enticing its members to also rent homes through ThirdHome, announced Feb. 27, is kaput. By the way, there’s more big news coming next week, but we’ll get to that later.