The moves follow the merger of XOJET and JetSmarter earlier this summer
Two former top executives are exiting XO, formerly XOJET, following its recent combination with JetSmarter. Gregg Slow, president of enterprise at XO has left while James Henderson, president of commercial operations will join Exclusive Resorts LLC as CEO in October it was announced last week.
The owner of XOJET and VistaJet will use funds to pay debt due in 2020 and 2021
Debtwire is reporting VistaJet Malta Finance PLC and XO Management Holding Inc., units of Dubai-based Vista Global Holdings, successfully sold $550 million in senior unsecured bonds earlier this week. The news service, which covers the worldwide debt market, said Vista had to increase the coupon of the deal due to investor concerns about the cyclical nature of private aviation and UHNW spending during a downturn.
The jet card and charter operator continues its expansion of luxury partners with its first addition since being acquired by Vista Global
XOJET, which operates a fleet of super-midsize private jets and has a $100 million dollar charter brokerage, including off-fleet midsize and light jet card memberships, has added The Resort at Paws Up. The move continues its focus on adding value for Preferred Access and Elite Access jet card members via luxury and lifestyle partnerships.
Vista Global (parent of VistaJet and XOJET) founder and chairman Thomas Flohr offers his predictions for business aviation
Last year, VistaJet made news when it launched a Dubai-based holding company Vista Global and then weeks later announced the acquisition of XOJET, a large U.S.-based fleet operator and charter broker. At the same time, VistaJet has been solidifying its position at the top end of the global private jet card and charter market adding to its ferry free flying zones (now 95% of the globe) and top-end services for children, catering and oenophiles.
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.