VistaJet bolsters its super-midsize Challenger 350 and ultra-long-haul Global 7500 fleets in response to an increase in new corporate customers
Global luxury charter operator VistaJet plans to add over $1 billion in new private jets in the next 24 months. It comes as initiatives to coddle the nascent corporate travel market are apparently paying off.
Technology issues are impacting flight operations and bookings at Vista Global’s XOJET and VistaJet units
Technology issues are impacting Vista Global, the fourth largest provider of for-hire private aircraft in the U.S. Its operators include XOJET Aviation, VistaJet, and Red Wing Aviation. The company recently announced plans to acquire Talon Air, the 14th largest Part 135 operator, and related broker Apollo Jets.
Argus TRAQPak’s list of the largest U.S. private jet charter operators highlights the active mergers and acquisitions market
Argus TRAQPak’s list of the 25 largest U.S. Part 135 private jet operators ranked by flight hours highlights the industry’s frenetic merger and acquisition activity. Ten of the private jet charter operators were involved in transactions. Part 135 includes on-demand and jet card flights
Moody’s pegs Vista Global, parent of XO, XOJET Aviation, and VistaJet on review for a possible downgrade while Fitch revises its outlook to stable
Last week, Moody’s Investors Service placed the ratings of Vista Global Holding Ltd. and VistaJet Malta Finance P.L.C. on review for downgrade. The outlook on both entities has been changed to ratings under review from stable. Then yesterday, Fitch Ratings revised its outlook on its long-term Issuer Default Rating (IDR) to stable from negative and affirmed the IDR at ‘B.’
Fitch has also affirmed the senior unsecured rating on the outstanding $550 million 10.5% notes due 2024 issued by XO Management Holding, Inc. and VistaJet Malta Finance PLC at ‘B+’/RR3. The bonds are guaranteed by Vista and XO Group Holding Limited and VistaJet Group Holding Limited (VistaJet) and their main subsidiaries.