Private aviation group Vista is to acquire US charter firm Jet Edge.
The latest deal follows Vista’s acquisition of European charter operator, maintenance and FBO company Air Hamburg at the start of last month. Dubai-based Vista has now made seven acquisitions in the business aviation sector since it was founded in 2018.
Charter company Jet Edge runs the largest fleet of Challenger and Gulfstream aircraft in the USA and recently received a US$40 million investment from private equity group KKR.
Thomas Flohr, Vista’s founder and chairman said, “Vista’s commitment is to provide the most comprehensive range of flying solutions in private aviation. Today’s announcement brings significant value to our clients, with access to a further 100 aircraft, expanding our fleet at a time of unprecedented demand for business aviation services.
“Our vision is to provide the best services, anytime and anywhere, for every customer. Bringing Jet Edge, the fastest-growing large-cabin and super-mid on demand company in the USA into the Group will expand our presence in North America, giving Vista the opportunity to turbocharge growth in the most dynamic business aviation market.”
Jet Edge’s CEO Bill Papariella is to join Vista’s executive team as chief business officer as part of the deal. He said: “Vista is, without a doubt, the best operational platform in private aviation, and it aligns with our company’s promise of safe operational service and a superior flight experience.
“Our Members will now get access to an extensive global fleet, programs, services and a network able to fly them anywhere in the world. Our aircraft owners will be able to take advantage of the enormous charter demand, global infrastructure and procurement advantages that Vista generates via its iconic brands VistaJet and XO.”
Vista said that the merger is an important step in its growth within the “highly fragmented business aviation ecosystem”. As part of the deal two branded lounges in Van Nuys and Teterboro join Jet Edge’s portforlio, as does ,Jet Edge’s Part 145 maintenance facility on the West Coast.
In accord with US Department Of Transport requirements, Vista will acquire Jet Edge aircraft, hospitality and maintenance facilities, while its US. strategic operating partner XOJET Aviation will acquire a majority stake of the Part 135 certificates of Jet Select and Western Air Charter.