Saturday, September 22, 2018

VISTA GLOBAL ACQUIRES XOJET, THE LEADING ON DEMAND BUSINESS AVIATION COMPANY IN NORTH AMERICA WITH 43 AIRCRAFT, STRENGTHENING ITS GLOBAL PRESENCE WITH 115 OWNED BUSINESS JETS

- Vista Global acquires XOJET’s fleet and commercial operations
- Acquisition of XOJET’s business aviation services reinforces Vista Global’s market position in North America
- Vista Global’s technology and worldwide reach to expedite growth at XOJET
- Vista Global’s asset lite solutions to fly point to point, anywhere, anytime, are now offered by two complementary market leading brands, VistaJet and XOJET
- XOJET accelerates Vista Global’s end to end coverage of business aviation solutions

NEW YORK, Sept 21 (Bernama-GLOBE NEWSWIRE) -- In a further move towards strengthening its lead in the fragmented and expanding business aviation market, Vista Global, the aviation group founded by Thomas Flohr, announces the acquisition of XOJET’s business aviation fleet and commercial operations. 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.

XOJET is the leading on demand private aviation platform in North America and its innovative model is unrivaled in the industry. XOJET’s four distinct membership programs serve the whole spectrum of business aviation needs on its owned fleet, whilst also providing its customers with additional flexible off-fleet alternatives. All of XOJET’s products are asset lite, a business model which is fully aligned with prevailing global macro trends and preferred by both corporates and UHNWIs.

True to its innovative culture, XOJET uses machine learning technology to drive its dynamic pricing, thereby offering extraordinary value to its members and on demand clients. With a fleet of 43 branded super-mid size business jets, XOJET has performed strongly in recent years. In the first half of 2018, the company saw its total revenue rise by 12%, while off-fleet business grew 22% in revenue.

http://mrem.bernama.com/viewsm.php?idm=32742

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