Former Jet Edge CEO Bill Papariella has left Vista Global just months after it was announced he would head a new aircraft trading and brokerage unit
After being named to lead a new aircraft trading division in May, Bill Papariella has left Vista Global Holding.
KKR has now invested $265 million in Top 10 charter operator Jet Edge in the past year
The new funds are being used for 20 additional large and super-midsize private jets
Charter operator Jet Edge International has raised an additional $75 million of funding from credit funds and accounts managed by KKR. The new funding expands KKR’s total credit and equity investments to $265 million over the past year. Last June, the private equity firm provided an initial $150 million credit facility.
Jet Edge is making a big move into building its direct-to-consumer business. It has launched a multi-million dollar ad campaign throughout the fourth quarter.
KKR’s investment comes as Jet Edge reports jet card sales have surpassed $100 million
After providing $150 million in credit financing in June KKR has agreed to invest $40 million in preferred equity in Jet Edge International.