Vista Global
{{Short description|Aviation company in Dubai}}
{{infobox company
| name = Vista Global
| logo = Vista Global.svg
| type = Private
| industry = Aviation
| foundation = 2018
| location = Dubai, UAE
| area_served =
| revenue =
| profit =
| owner =
| num_employees =
| homepage = {{URL|vistaglobal.com}}
}}
Vista Global Holding Limited is a private aviation group based in Dubai. It was founded in 2018 by Thomas Flohr. The group offers private jet services under VistaJet and XO.{{Cite web |last=Press |date=2023-01-23 |title=Dufour Aerospace closes new investment from Vista to accelerate growth |url=https://www.suasnews.com/2023/01/dufour-aerospace-closes-new-investment-from-vista-to-accelerate-growth/ |access-date=2023-02-02 |website=sUAS News - The Business of Drones |language=en-gb}}
Overview
Vista was launched on September 20, 2018 with support from the global private equity firm, Rhône. Rhône invested an additional $200 million in September 2018.{{Cite web |last=Alves |first=Joice |title=Rhône Group Invests $200 Million in Aviation Business |url=https://www.penews.com/articles/rhone-group-invests-200-million-in-aviation-business-20180911 |access-date=2023-02-02 |website=www.penews.com |language=en-GB}} Vista became the parent company of VistaJet, a global business aviation company that Flohr founded in 2004.{{Cite web |last=Trautvetter |first=Chad |title=VistaJet's New Parent Aims To Defragment Bizav Market |url=https://www.ainonline.com/aviation-news/business-aviation/2018-09-11/vistajets-new-parent-aims-defragment-bizav-market |access-date=2023-02-02 |website=Aviation International News |language=en}} A week after Vista's launch, it acquired the on-demand private jet company, XOJET.{{Cite web |last=Arvai |first=Ernest |date=2022-04-01 |title=VistaJet Acquires Jet Edge in Consolidation Wave |url=https://airinsight.com/vistajet-to-acquire-jet-edge/ |access-date=2023-02-02 |website=AirInsight |language=en-US}}{{Cite web |last=Siebenmark |first=Jerry |title=Vista Global Notes Record Growth in First-half 2021 |url=https://www.ainonline.com/aviation-news/business-aviation/2021-08-09/vista-global-notes-record-growth-first-half-2021 |access-date=2023-02-02 |website=Aviation International News |language=en}}
In April 2019, Vista acquired JetSmarter, a technology-enabled service provider specializing in the aviation industry,{{Cite news |date=2019-04-10 |title=Vista Global Buys an Uber For Private Jets |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2019-04-10/vistajet-buys-uber-style-private-jet-booking-service-jetsmarter |access-date=2023-02-02}}{{Cite web |last1=Wynbr |first1=James |last2=t |title=Vista Global To Acquire JetSmarter |url=https://www.ainonline.com/aviation-news/business-aviation/2019-04-10/vista-global-acquire-jetsmarter |access-date=2023-02-02 |website=Aviation International News |language=en}}{{Cite web |last=Frank |first=Robert |title=Private jet company Vista Global to acquire JetSmarter, once touted as the Uber of private jets |url=https://www.cnbc.com/2019/04/10/private-jet-company-vista-global-to-acquire-jetsmarter.html |access-date=2023-02-02 |website=CNBC |date=10 April 2019 |language=en}} and in June, it merged XOJET with JetSmarter and rebranded the companies as XO.{{Cite web |last=Gollan |first=Doug |title=Vista Global Rebrands JetSmarter And XOJET To XO, While PrivateFly Launches Fixed Rate Flights In The U.S. |url=https://www.forbes.com/sites/douggollan/2019/06/27/vista-global-rebrands-jetsmarter-and-xojet-to-xo-privatefly-launches-fixed-rate-flights-in-the-u-s/ |access-date=2023-02-02 |website=Forbes |language=en}}{{Cite web |title=Vista Global combines XOJet and JetSmarter into XO |url=https://www.ch-aviation.com/portal/news/79614-vista-global-combines-xojet-and-jetsmarter-into-xo |access-date=2023-02-02 |website=ch-aviation |language=en}}
By 2020, Vista acquired Red Wing Aviation, Apollo Jet, and Talon Air.{{Cite web |last=Kamel |first=Deena |date=2022-02-21 |title=Vista acquires European charter operator Air Hamburg amid industry consolidation |url=https://www.thenationalnews.com/business/aviation/2022/02/21/vista-acquires-european-charter-operator-air-hamburg-amid-industry-consolidation/ |access-date=2023-02-02 |website=The National |language=en}}{{Cite web |last=TravelNewsAsia.com |title=Vista Global to Acquire Apollo Jets |url=https://www.travelnewsasia.com/news21/43-VistaGlobal.shtml |access-date=2023-02-02 |website=Travel News Asia}}
In February 2022, Vista acquired Air Hamburg, the private jet operator with the highest number of flights across Europe.{{Cite web |title=Vista Global to Acquire Jet Edge, Expanding N. American Presence |url=https://www.businesstravelnews.com/Procurement/Vista-Global-to-Acquire-Jet-Edge-Expanding-North-American-Presence |access-date=2023-02-02 |website=www.businesstravelnews.com |date=31 March 2022 |language=en}}{{Cite web |date=2022-02-23 |title=VistaJet acquires rival Air Hamburg amid business aviation boom - AeroTime |url=https://www.aerotime.aero/articles/30301-business-aviation-vistajet-buys-air-hamburg |access-date=2023-02-02 |language=en-US}}{{Cite web |title=Vista Global Agrees to Acquire Air Hamburg |url=https://www.businesstravelnews.com/Procurement/Vista-Global-Agrees-to-Acquire-Air-Hamburg |access-date=2023-02-02 |website=www.businesstravelnews.com |date=22 February 2022 |language=en}} In March, it acquired Jet Edge, a private aviation company based in North America, offering jet cards and charter flight services.{{Cite news |date=2022-03-31 |title=Vista acquires Jet Edge services as private flying boom fuels M&A |language=en |work=Reuters |url=https://www.reuters.com/business/aerospace-defense/vista-acquires-jet-edge-services-private-flying-boom-fuels-ma-2022-03-31/ |access-date=2023-02-02}} Over 800 Jet Edge employees also joined Vista.{{Cite web |last=Siebenmark |first=Jerry |title=Vista Finalizes Jet Edge Acquisition |url=https://www.ainonline.com/aviation-news/business-aviation/2022-06-16/vista-finalizes-jet-edge-acquisition |access-date=2023-02-02 |website=Aviation International News |language=en}}
In April 2022, Fitch Ratings assigned Vista Global's $500 million notes a final BB- rating with a Recovery Rating of RR3.{{Cite web |title=Fitch Rates Vista Global's USD500m Notes Final 'BB-' |url=https://www.fitchratings.com/research/corporate-finance/fitch-rates-vista-global-usd500m-notes-final-bb-21-04-2022 |access-date=2023-02-02 |website=www.fitchratings.com}}
As of February 2024, Fitch Ratings assigned Vista’s IDR at "B+" with a recovery rating of RR3.{{cite web |title=Fitch Affirms Vista Global at 'B+'; Outlook Stable |url=https://www.fitchratings.com/research/corporate-finance/fitch-affirms-vista-global-at-b-outlook-stable-09-02-2024#:~:text=Fitch%20Affirms%20Vista%20Global%20at,and%20VistaJet%20Group%20Holding%20Limited |website=Fitch ratings}}
In 2024, Vista’s founder Thomas Flohr alleged in legal filings that a rival company and Timothy Horlick, a British financier, launched a smear campaign against Vista. Flohr claims that AirX founder John Matthews used a burner email address with a fabricated identity to send emails to business contacts of VistaJet, bypassing court-ordered confidentiality.
He also alleges Matthews created a WhatsApp group in March 2023, titled VistaComms, which was used to discuss with colleagues the use of burner emails to share confidential information about VistaJet with lenders, business partners, and journalists.{{cite web |last1=Meddings |first1=Sabah |title=WhatsApps, Fake Names and an Alleged Conspiracy Against VistaJet |url=https://www.bloomberg.com/news/articles/2024-03-13/vistajet-founder-thomas-flohr-accuses-rival-of-smear-campaign?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTcxMDM1MzQyOSwiZXhwIjoxNzEwOTU4MjI5LCJhcnRpY2xlSWQiOiJTOU83RlpUMEcxS1cwMCIsImJjb25uZWN0SWQiOiIzMDFDMzNBNkMyMjI0M0Y0QTk1RDMwNTI1RTIxRTdBOSJ9.YfWM7U3QxV14qoY6FU5u62OzKwJMuKhixMUz00uDK5c |website=Bloomberg}}