Latest news with #ThomasFlohr
Yahoo
12-05-2025
- Business
- Yahoo
Clearing the Skies: VistaJet Grows Again in 2024 and Court Dismisses Claim Against Founder
Vista secures significant new capital while a court ruling clears founder Thomas Flohr of allegations, positioning the company for continued global expansion. By Exec Edge Editorial Staff A major court ruling dismissed the case against VistaJet founder Thomas Flohr, clearing his name and removing what company executives described as a baseless cloud hanging over the private aviation leader's reputation for nearly two years. The ruling comes as Vista secures substantial new financing that strengthens its position as the second-largest private aviation company globally. The Malta-based private aviation company recently secured $600 million in equity and raised an additional $700 million in an oversubscribed capital offering. These strategic financial moves are expected to save Vista approximately $160 million in debt repayment in 2024 alone. 'It removes the doubts from people who don't know our founder or our company yet,' Ian Moore, Vista Chief Commercial Officer said. 'The people who knew us had not been worried by it. It was always clear that it was a baseless claim.' With these legal challenges now behind them, VistaJet executives say the company is 'turning a page after two years of turmoil that was instigated by malignant voices' and is focused on continued growth and reinforcing its position as a global leader in private aviation. VistaJet Reports Strong 2024 Performance Vista released its 2024 results to its investors, showing significant growth across multiple metrics. The company reported a 20% increase in membership over the past year, with Program members now accounting for a large majority of the company's revenue. These members sign three-year agreements, providing VistaJet with strong visibility into future revenue streams. 'We've never been stronger,' Moore noted. The company also reported an impressive EBITDA of approximately $800 million, demonstrating the strength of its subscription-based business model, which was pioneered by Thomas Flohr when he founded VistaJet in 2004. VistaJet's global reach continues to expand. The company reported that the first fiscal quarter of 2024 saw a 69% increase in Global 7500 flight hours compared to the fourth quarter of 2023. This growth reflects increasing demand for ultra-long-range private jet travel, particularly for routes that connect global business centers without stopping for refueling. In West Africa, where VistaJet recently held its first-ever roadshow static display, the company saw a 58% increase in flight hours during the same period. This growth aligns with Thomas Flohr's long-term vision of expansion into emerging markets. 'Vista has always had big ambitions from the start, and we set out to become the first and only global private aviation company back at the beginning of our journey,' the CCO stated. 'We made large investments, and tripled our fleet in the last three years.' A Strategic Financial Restructuring The recent capital raises are part of a strategic effort to rebalance Vista's growth and address critiques about the company's debt levels. From recent transactions, $500 million will go straight into debt reduction, and the other $700 million are restructuring of the current set of tools and reducing the group's debt rate. These financial maneuvers come after Vista expanded its fleet significantly over the past two years, including through major acquisitions. The company refurbished 93 aircraft in 2023 alone to bring them up to VistaJet standards. The new financing structure has been well-received by investors, reflecting confidence in VistaJet's business model and growth strategy. This positive reception is particularly notable given the challenging environment for private aviation companies in recent years. 'We found investors to join us in the long term — somebody who had the same vision,' explained Ian Moore, Vista Chief Commercial Officer. 'Because our vision is still bigger. We have now reached about 5% global market share. We're the second-largest player. So the addressable market for us to grow is still incredibly large.' Thomas Flohr's Vision for Global Aviation Thomas Flohr founded VistaJet in 2004 with just one aircraft after experiencing frustration with the options for private charters while working in asset finance. He created a subscription-based business model in which clients only pay for the hours they fly, avoiding the high costs and asset depreciation associated with traditional jet ownership or fractional ownership models. This innovative approach has allowed VistaJet to expand its global presence rapidly. The company now flies clients to 96% of the world's countries, to more than 2,400 airports worldwide. 'We continue to focus on what matters most – for this year and the next 5 years – to continue being the best in class,' as Flohr's message to stakeholders stated after the legal victory. 'VistaJet has always promised to be the best alternative to private aircraft ownership.' With the legal challenges and financial restructuring behind them, VistaJet executives say the company is poised for continued growth and innovation. Plans include expanding regional teams, adapting products to meet evolving client needs, and maintaining the company's exceptional service and luxury positioning. 'Finally the sky's clear,' Moore concluded. 'Vista is back and stronger than ever.' Contact: Exec Edge Editor@
Bloomberg
31-03-2025
- Business
- Bloomberg
Private-jet firm Vista Bullish on Asia Business
Private aviation company Vista says Asia will be one of its leading growth drivers in the coming year. Singapore-based private equity firm VistaJet announced a $600M investment in Vista last month. Vista Founder Thomas Flohr says its membership model is helping companies cut costs, without losing the efficiency of having access to private planes. He speaks with David Ingles and Rebecca Choong Wilkins on "Bloomberg: The China Show." (Source: Bloomberg)
Associated Press
17-03-2025
- Business
- Associated Press
RRJ Joins Vista With $600m Equity Investment
RRJ JOINS VISTA WITH $600M EQUITY INVESTMENT RRJ Capital leads global consortium of esteemed backers Vista, the world's leading global private aviation group, has signed a definitive agreement for an equity investment of $600 million from a consortium of investors led by RRJ Capital, a leading Asian investment firm. This investment marks another significant milestone in Vista's historic growth journey and validates the confidence in the Group's strategic vision and business model. This investment will optimize the Group's capital structure, enhance free cashflow generation and reduce indebtedness. This is in line with Vista's strong commitment to accelerate deleveraging, diversify its investor base and further strengthens its financial position. Commenting on today's announcement, Vista's Founder and Chairman, Thomas Flohr expressed: 'Today's announcement is a strong endorsement of our strategy and long-term vision for the future, while also providing us with great partners for years to come. We are excited to welcome RRJ Capital and the rest of the consortium to join our existing carefully curated investor base, and look forward to working with Richard and the rest of the team to support Vista's next phase of growth.' On today's equity investment in Vista, Richard Ong, Founder and CEO of RRJ Capital, stated: 'RRJ are very pleased to become a long-term partner to Vista, the leading private jet company in the world. With over 20 years of industry innovation, and a global presence across all markets, this strategic investment in Vista marks an exciting new chapter in our shared journey.' Andalusian Private Capital and others will participate alongside RRJ Capital bringing a broad range of expertise and expanded global network. They join existing shareholders, including Rhône Group LLC, who have been long-standing investors in Vista. The transaction is expected to close before the end of March 2025. Jefferies acted as financial advisor to Vista and UBS acted as financial advisor to RRJ in connection with this transaction. – ENDS – Contact: About Vista Vista Global Holding Limited ( Vista) is the world's leading global business aviation company providing worldwide business flight services through its network of subsidiaries and a team of over 4,000 experts. A global group headquartered in Dubai, Vista integrates a unique portfolio of companies to offer asset free services to cover all key aspects of business aviation, including guaranteed and on demand global flight coverage, subscription and membership solutions, and trading and management services. Innovating the industry for over 20 years through continuous investment in talent, technology, and infrastructure, Vista's mission is to provide the most advanced flying services at the very best value — anytime, anywhere around the world. Vista's extensive industry expertise enables it to deliver comprehensive end-to-end solutions and technology to meet the needs of business aviation clients around the world. These services are offered through its leading brands, including Vista Jet and XO. 'Vista' is a trade name for Vista Global Holding Limited. Vista does not operate any aircraft. All flights are performed by properly licensed operators, which may include subsidiaries such as VistaJet Limited or VistaJet GmbH. Vista also holds a non-controlling minority stake in FAA-licensed and DOT registered US direct air carriers XOJET Aviation LLC (DBA Vista America), Red Wing Aeroplane LLC (DBA Vista America), Western Air Charter, Inc. (DBA Vista America), Jet Select, LLC (DBA Vista America), and Talon Air LLC. About RRJ Capital RRJ Capital was founded in 2011 by Richard Ong and Charles Ong. RRJ is a Singapore-based private equity group which currently manages $25bn in long-term capital. RRJ has a strategic focus in key industries, including energy, transportation, logistic, financial services, and healthcare, and has invested over USD1.5 billion long term capital in various aviation related companies including aircraft leasing, airline catering, and private jets. RRJ has a long history of working seamlessly across geographic regions, with portfolio companies diversified across Asia Pacific, Europe and the United States of America. About Andalusian Private Capital
Yahoo
17-03-2025
- Business
- Yahoo
RRJ Joins Vista With $600m Equity Investment
Malta vistajet san francisco-4 (1) VJ_Q324_VAN_NUYS_2024_SHOT_12 (1) RRJ JOINS VISTA WITH $600M EQUITY INVESTMENT Vista, the world's leading global private aviation group, has signed a definitive agreement for an equity investment of $600 million from a consortium of investors led by RRJ Capital, a leading Asian investment firm. This investment marks another significant milestone in Vista's historic growth journey and validates the confidence in the Group's strategic vision and business model. This investment will optimize the Group's capital structure, enhance free cashflow generation and reduce indebtedness. This is in line with Vista's strong commitment to accelerate deleveraging, diversify its investor base and further strengthens its financial position. Commenting on today's announcement, Vista's Founder and Chairman, Thomas Flohr expressed: 'Today's announcement is a strong endorsement of our strategy and long-term vision for the future, while also providing us with great partners for years to come. We are excited to welcome RRJ Capital and the rest of the consortium to join our existing carefully curated investor base, and look forward to working with Richard and the rest of the team to support Vista's next phase of growth.' On today's equity investment in Vista, Richard Ong, Founder and CEO of RRJ Capital, stated: 'RRJ are very pleased to become a long-term partner to Vista, the leading private jet company in the world. With over 20 years of industry innovation, and a global presence across all markets, this strategic investment in Vista marks an exciting new chapter in our shared journey.' Andalusian Private Capital and others will participate alongside RRJ Capital bringing a broad range of expertise and expanded global network. They join existing shareholders, including Rhône Group LLC, who have been long-standing investors in Vista. The transaction is expected to close before the end of March 2025. Jefferies acted as financial advisor to Vista and UBS acted as financial advisor to RRJ in connection with this transaction. – ENDS – Contact: press@ About Vista Vista Global Holding Limited (Vista) is the world's leading global business aviation company providing worldwide business flight services through its network of subsidiaries and a team of over 4,000 experts. A global group headquartered in Dubai, Vista integrates a unique portfolio of companies to offer asset free services to cover all key aspects of business aviation, including guaranteed and on demand global flight coverage, subscription and membership solutions, and trading and management services. Innovating the industry for over 20 years through continuous investment in talent, technology, and infrastructure, Vista's mission is to provide the most advanced flying services at the very best value — anytime, anywhere around the world. Vista's extensive industry expertise enables it to deliver comprehensive end-to-end solutions and technology to meet the needs of business aviation clients around the world. These services are offered through its leading brands, including VistaJet and XO. More Vista information and news at 'Vista' is a trade name for Vista Global Holding Limited. Vista does not operate any aircraft. All flights are performed by properly licensed operators, which may include subsidiaries such as VistaJet Limited or VistaJet GmbH. Vista also holds a non-controlling minority stake in FAA-licensed and DOT registered US direct air carriers XOJET Aviation LLC (DBA Vista America), Red Wing Aeroplane LLC (DBA Vista America), Western Air Charter, Inc. (DBA Vista America), Jet Select, LLC (DBA Vista America), and Talon Air LLC. About RRJ Capital RRJ Capital was founded in 2011 by Richard Ong and Charles Ong. RRJ is a Singapore-based private equity group which currently manages $25bn in long-term capital. RRJ has a strategic focus in key industries, including energy, transportation, logistic, financial services, and healthcare, and has invested over USD1.5 billion long term capital in various aviation related companies including aircraft leasing, airline catering, and private jets. RRJ has a long history of working seamlessly across geographic regions, with portfolio companies diversified across Asia Pacific, Europe and the United States of America. About Andalusian Private Capital Andalusian Private Capital ('Andalusian' or 'APC') is a next-generation direct investment platform focused on minority equity investments in scaled, growing private businesses across a wide range of industries. Andalusian was co-founded in 2020 by Jeffrey Kaplan, former COO of Appaloosa Management and Global Head of M&A at Bank of America Merrill Lynch, and Nick Savasta, former Co-Head of the Strategic Investments Group at MSD Partners. To learn more, visit Attachments Malta vistajet san francisco-4 (1) VJ_Q324_VAN_NUYS_2024_SHOT_12 (1)Sign in to access your portfolio
