Multiple sources tell Private Jet Card Comparisons that Vista Global, Flexjet parent Directional Aviation and possibly other parties have been in acquisition discussions to buy Jet Edge
Multiple sources tell Private Jet Card Comparisons both Vista Global Holding and Flexjet, Sentient Jet parent Directional Aviation have been in discussions to acquire Jet Edge, the seventh-largest Part 135 charter operator in the U.S., in what would be the heated industry’s latest deal.
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.