Let’s make a deal. The private jet M&A market is hot, but not without risks

Private aviation M&A

Vista Global’s deal yesterday with Red Wing that brings it 15 light jets to XOJET is the latest and doesn’t look to be the last

In just over 3 years, we’ve tracked over 50 deals, fundraises, launches, and bankruptcies

(Updated Jan. 11, 2021) The COVID-19 crisis may be bringing the already simmering mergers and acquisitions market for private jet operators and brokers back to a boil.

Charter broker Fly Victor’s parent company enters administration

Fly Victor private jet chart

Alyssum Holdings Limited, the parent company of private jet charter broker Victor, has entered administration in the U.K.

Victor says it’s business as usual and customer money isn’t at risk

Alyssum Holdings Limited, the parent company of private jet charter broker Fly Victor, Ltd., has entered administration.

The filing made on Wednesday appointed London-based David Rubin & Partners to oversee the process.

Separately, the administrators have hired Hilco Streambank to seek offers to acquire Alyssum’s shareholdings in its subsidiaries Fly Victor Limited and RocketRoute Limited, an online platform providing solutions for private pilots. The deadline for buyers is Feb. 28th.

Victor Alto members gain private jet charter discounts from car rentals, luxury travel and menswear purchases

Private jet rental

The U.K.-based charter broker is expanding its private jet frequent flyer program enabling members to earn points from new lifestyle partners

Online led private jet charter broker Victor has launched Alto Partners with a collection of lifestyle brand partners.

The new alliances enable you to gain discounts on private jet flights when you book car rentals, luxury vacations, and purchase high-end menswear.

Privatejet.com sparks a second lawsuit

Fly Victor private jet chart

Private jet charter broker Fly Victor and its CEO Clive Jackson are the subject of a second lawsuit by Don’t Look Media and Louis Spagnuolo

As the strobe light turns. After filing a lawsuit in June seeking $30 million from U.K.-based private jet charter broker Victor and its founder Clive Jackson over the privatejet.com domain, Don’t Look Media, LLC (DLM), and Louis Spagnuolo have filed a second lawsuit.

This time DLM is seeking $3 million. It alleges Jackson and others of “publicly and falsely accusing it of criminal behavior, and thereby destroying its business’ reputation.”

Private jet operators, brokers keep the music playing during the British Airways strike

As a strike by its pilots caused BA to cancel nearly all its flights, private jet charter companies said they saw an uptick in inquiries and bookings

Air Charter Service moved a 100-person orchestra and their instruments, while Air Partner saved a leadership team from missing their own corporate retreat

With British Airways canceling nearly all of its flights during a two-day strike by its pilots which ended yesterday, several private jet charter brokers and operators say there was an increase in both inquiries and flights booked.

“We saw a massive uptick for requests, both direct and from brokers,” said Bernhard Fragner, CEO of GlobeAir AG, an Austrian based operator of four-seat Cessna Citation Mustang very light jets.

Fly Victor seeks dismissal of $30 million privatejet.com lawsuit

“The allegations…are spurious claims which we emphatically deny,” says Clive Jackson, CEO of the U.K. based private jet broker

In its response, Victor provided bank records of over two dozen payments it says were made to the plaintiff as well as its notice to terminate the agreement dating from 2018.

Defendant Don’t Look Media had claimed to have not received any monies.

(Editor’s Note: Clyde & Co. says it did not issue a statement originally attributed to it in this article. In fact, the statement was provided by Alyssum, a client that Clyde & Co. represents in this litigation.)

Online private jet charter broker Fly Victor, its parent company, Alyssum, and CEO Clive Jackson are hitting back at Don’t Look Media, seeking dismissal of its $30 million RICO lawsuit filed in June over the website URL http://www.privatejet.com.

“Don’t Look Media and (its attorney) Farrow Law are shamelessly exploiting the judicial system to extort monies from Alyssum. This is a despicable act carried out by those that not only wish to damage our company but whose actions can only bring disrepute on the entire private industry,” Jackson told Private Jet Card Comparisons.

Victor is launching Alto – a frequent flyer program for on-demand private jet charter customers

Alto is the new points-based frequent flyer program targeting private jet fliers who use Victor’s on-demand brokerage. We give you our evaluation – Is it worth it?

 

First, among major airlines, there was American Airlines and its AAdvantage Frequent Flier program back in 1981. Its compelling proposition of free flights to Hawaii made it an instant hit. Within months came everyone else. In the world of jet cards and fractional ownership, there have long been referral programs. Refer a friend (or enemy) and earn free flight hours, which with hourly rates of up to $10,000 or more, can be well, valuable. When buying cards, you can also try to wrangle an extra hour when you are signing. For on-demand charter, it has been mainly a trip to the Grand Bazaar with each journey a new opportunity to hone your skills and ask your broker, “Are you sure you can’t do a bit better?” Yesterday, U.K.-based charter broker Victor said it had launched its own frequent flier program hoping to develop loyalty with rightfully fickle on-demand charter customers who are conditioned to shop for a deal. 

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