XOJET signs up for JSSI’s hourly cost engine program as private jet charter demand rises

XOJET XO

XOJET Aviation, which provides an in-house fleet for Vista Global’s XO brokerage, has enrolled 15 Challenger 300s in JSSI’s hourly cost engine program

Vista Global Part 135 operator XOJET Aviation is enrolling 15 Challenger 300 aircraft on a specialized 10-year term engine maintenance program with Jet Support Services, Inc. XOJET provides a fleet of 45 Bombardier Challenger 300 and Citation X super-midsize programs for XO’s jet card programs and on-demand charter solutions.

Vista Global buys charter broker Apollo Jets, private jet operator Talon Air

Thomas Flohr

XO and VistaJet parent Vista Global Holding is acquiring on-demand private jet charter broker Apollo Jets and Part 135 operator Talon Air

Talon Air is the 14th largest charter operator in the U.S. It expands Vista Global into aircraft management

In 2018, it bought XOJET. JetSmarter came in 2019. Last year Dubai-based holding company Vista Global Holding snapped up Red Wing Aviation. Now the parent of VistaJet is acquiring on-demand charter broker Apollo Jets. It is also gaining 49% of Apollo’s 70% interest in Part 135 operator and management company Talon Air. The latter is the 14th largest U.S. charter operator based on flight hours, according to Argus TRAQPak.

Biggest Part 135 private jet charter companies for 2020 ranked

Largest private jet charter operators 2020

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, Fitch update Vista Global rating outlook

XOJET Challenger 300

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.

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