Is Vista Group about to buy JetSmarter?

JetSmarter XOJET Vista Global Vistajet

Flight sharing and charter broker JetSmarter says it is being targeted by ‘unethical competitive practices’

A report in the New York Post yesterday picked up on industry rumors bouncing around the last couple weeks that JetSmarter would be sold to Vista Group, a Dubai-based holding company formed last September which was used as a vehicle to acquire XOJET weeks later. The report cited undisclosed sources claiming, “Both insiders identified roll-up artist Vista Global as the likely acquirer. But if talks between the two parties fail, and JetSmarter fails to secure additional financing, the sources said it could be forced into bankruptcy.”

JetSmarter plans expansion despite new lawsuits, including from one customer who paid $87,500

The latest lawsuits bring to at least five the number of actions alleging fraud against the Ft. Lauderdale-based sharing economy private jet membership service

 

As a lawsuit seeking at least $2 million against it continues with a hearing scheduled for early December in Los Angeles, JetSmarter has been hit with two more lawsuits. The first one was filed October 16th in The United States District Court For The Eastern District Of Wisconsin, at least the fourth since August, and accuses the Fort Lauderdale-based sharing economy private jet service with breach of contract, breach of good faith and fraudulent representation. The lawsuit seeks at least $75,000 in compensatory damages, undisclosed punitive damages, attorney’s fees and other relief that the court deems proper. In another lawsuit, filed today in the Southern District of Florida, Illinois-based Joann Bachewicz is seeking at least $300,0000 after she paid $87,500 for a three-year membership JetSmarter represented as having a $150,000 value.