Vista Global has announced the acquisition of U.S. charter operator Jet Edge, including its maintenance facilities, aircraft management, and brokerage platforms.
The seventh-largest charter operator in the country, Jet Edge has a fleet of 100 large and super-midsize cabin aircraft. This will bring Vista's fleet availability to 350 when the transaction completes in the second quarter of this year.
Bill Papariella, CEO and co-founder of Jet Edge International, will join Vista's executive team as Chief Business Officer.
"Our members will now get access to an extensive global fleet, programs, services and a network able to fly them anywhere in the world," said Papariella.
Jet Edge previously received an investment from private equity firm KKR for $265 million over the past year, allowing it to expand its Gulfstream and Challenger fleet.
Demand for private aviation has grown drastically during the COVID-19 pandemic as flyers attempt to avoid the obstacles that come with commercial travel. With preowned business jet inventory reaching historic lows, Vista is strengthening its private jet inventory.
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Vista's maintenance capabilities in North America will also expand with the addition of Jet Edge's Part 145 maintenance facility, securing better access to parts and providing a stronger maintenance capacity.
XOJet, purchased in 2018 by Vista Global, will acquire a majority stake of the Part 135 certificates of Jet Select and Western Air Charter.
"As we continue to revolutionize the private aviation market, we are ready to integrate the extensive expertise of our new colleagues across the whole Jet Edge family," said Thomas Flohr, Founder and Chairman of Vista. "This acquisition is the latest example of Vista's ability to capitalize on key opportunities in the highly fragmented and fast-growing business aviation world."