Vista Global To Acquire Jet Edge, Growing In U.S.

Jet Edge hangar
Credit: Jet Edge

Dubai-based Vista Global Holding has entered into an agreement to acquire fast-growing U.S. charter operator Jet Edge, Vista said March 31, announcing its second major acquisition this year.

Upon completion of the transaction, which is expected to close in the second quarter, Vista will own or operate a fleet of 350 aircraft. Jet Edge brings a managed fleet of about 100 super-midsize and large-cabin Bombardier and Gulfstream business jets to the deal, as well as a Part 145 maintenance shop in Van Nuys, California, and branded lounges at the Van Nuys and Teterboro, New Jersey, airports.

Vista, the parent company of VistaJet, holds non-controlling minority stakes in XOJET Aviation, GMJ Air Shuttle, Red Wing Aviation and Talon Air. On Feb. 21, Vista said it had entered into an agreement to acquire European charter operator Air Hamburg, including the latter company’s EASA Part 145 maintenance base at Baden-Baden Airpark, Germany, and VIP lounge at Hamburg Airport.

On March 29, VistaJet accepted delivery of its 10th Bombardier Global 7500 large-cabin, ultra-long-range business jet—Bombardier’s 100th such delivery—in a ceremony at the manufacturer’s Laurent Beaudoin Completion Center in Montreal.

“Vista’s commitment is to provide the most comprehensive range of flying solutions in private aviation,” said Vista founder and Chairman Thomas Flohr, revealing the Jet Edge acquisition. “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.”

Jet Edge in 2021 received nearly $200 million in successive rounds of financing and investment from New York City-based investment firm KKR to support the growth of its fleet and charter membership program. The company is on track to log 60,000 flight hours this year in super-midsize and large-cabin jets, and last year ranked as the 8th largest fractional and charter operator in North America, according to Private Jet Card Comparisons.

Jet Edge CEO Bill Papariella, who purchased the company in 2011, will join Vista’s executive team as chief business officer. Jet Edge’s management team will remain under the new ownership.

“Bringing Jet Edge, the fastest-growing large-cabin and super-midsize on demand company in the U.S., into the group scales up our presence in North America, giving Vista the opportunity to turbocharge growth in the most dynamic business aviation market,” Flohr said. "It also means expanding our offering and presenting our members with the chance to fly on the largest fleet of Gulfstream aircraft available for charter.”

Bill Carey

Based in Washington, D.C., Bill covers business aviation and advanced air mobility for Aviation Week Network. A former newspaper reporter, he has also covered the airline industry, military aviation, commercial space and unmanned aircraft systems. He is the author of 'Enter The Drones, The FAA and UAVs in America,' published in 2016.