The global non-ownership private jet provider is extending its partnership for a second year
Ever active in its marketing, VistaJet announced it will continue its partnership with Scuderia Ferrari for a second year as official supplier of private jet travel.
In a press release, the private jet fleet operator said, “With the ever-demanding race calendar and often only days between Grands Prix, the team faces challenging timelines. VistaJet will support the team to optimize their travel and transfer times throughout the 2020 Formula One season.”
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Can you fly for the same price as first-class with the airlines?
Everyone wants to fly privately, says Kenny Dichter, the CEO and co-founder of Wheels Up. And the idea is the cheaper it is to fly privately, the more people who will do it. Dichter says that was his idea using the eight-seat King Air 350i to “democratize” short flight.
In the world of chartering your entire aircraft, he cut the price for a one-hour flight for eight people to around $5,000 compared to a cost of $8,000 to $10,000 for the same trip on a jet. His argument was that there was a minimal time penalty since landings and takeoffs are not at full speed, and often as you get near to your destination airport, airplanes are slowed down to similar speeds.
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.”
Thomas Flohr, Chairman of parent Vista Global Holding Beth Stebenne, Chief of Staff Raja Khurana, Chief Commercial Officer Lezlea List, Chief Services Officer Lynn Fischer, Chief Marketing Officer Sergey Petrossov, Chief Digital Officer (Vista Global)
It is a sister company of VistaJet. Prior to the sale of XOJet it had built an on-fleet and off-fleet model with over $100 million in brokerage sales.
In June 2019, its brokerage was merged with JetSmarter, another Vista Global acquisition. The new brand was named XO Global LLC, and the website URL was changed to FlyXO.com.
XO had offered a wide spectrum of programs, from fixed-rated offerings on its fleet of super-midsize private jets (Citation X and Challenger 300) and off-fleet on light and midsize jets. In July 2021, it suspended its fixed-rate Elite Access membership.
Recently its parent Vista Global acquired a minority interest in Red Wing Aero, with plans to build its fleet of light jets. It also acquired Apollo Jets, a larger private jet charter broker, which is now a subsidiary of XO Global.
With the Apollo acquisition, Vista Global gained a minority interest in Talon Air, a top 20 Part 135 charter operator. XOJET, Red Wing, and Talon Air-operated aircraft are used in XO programs.
Additionally, it uses third-party charter operators.
As a foreign entity, Vista Global is barred from holding a majority stake in U.S. airlines, including charter carriers. However, it owns both the XO charter and jet card brokerage and aircraft in the XOJet and Red Wing fleets. Talon Air is a mix of owned and managed private jets.
XOJET was founded in 2006, and became XO Global LLC after merging with JetSmarter in 2019. XOJet Aviation is a separate company that operates aircraft owned by Vista Global Holding, including the former XOJet fleet.
Who owns it?
Vista Global Holding based in Dubai
Who is the CEO?
Thomas Flohr is chairman of parent Vista Global
How are aircraft sourced?
XO uses XOJet Aviation to operate its owned fleet of Challenger 300 and Citation X private jets. Additional aircraft are sourced through its preferred network of charter operators. It also sources aircraft from related charter operators Red Wing Aviation and Talon Air.