The two subsidiaries of Vista Global posted significant gains in memberships and flying last year
In separate press releases, private jet operators VistaJet and XOJET released results from 2018. VistaJet said the figures are preliminary and subject to change after auditing. Both are now part of Vista Global, a Dubai-based holding company which served as a vehicle to buy XOJET last September.
Earlier this year XOJET put itself into play. Last week VistaJet launched a holding company with plans to expand. Voila, a deal!
Earlier this morning Thomas Flohr’s VistaJet announced it had reached an agreement to acquire XOJET via Vista Global, a Dubai based holding company formed earlier this month. The deal covers XOJET’s business aviation fleet and commercial operations, and the release said XOJET’s regulated air carrier will continue to be independently operated in a joint venture under U.S. control and leadership, in accordance with U.S. Department of Transportation criteria. As first reported by Private Jet Card Comparisons, earlier this year XOJET hired Perella Weinberg Partners to explore its ongoing business options.
XOJET says it completed a busy and successful first half of 2018 as it positions itself as a better option to fractional ownership
San Francisco-based XOJET said it saw 12% growth in total revenue during the first half of the year, including a record-breaking first quarter with year-over-year increases of 15% in overall business and 39.5% in Off-Fleet Charter Brokerage. The company says for the super-mid charter market in the United States it enjoys a 31% share of flights exceeding three hours occurring on the XOJET fleet. It has its own fleet of over 40 Bombardier Challenger 300s and Cessna Citation Xs.