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For Immediate Release | Official News Wire for the Travel Industry

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Vista Global to acquire JetSmarter

April 10, 2019 by Forimmediaterelease

Vista Global, a world leader in business flight solutions, announces that it has entered into an agreement to acquire JetSmarter, creating the global On Demand digital marketplace.

JetSmarter’s innovative marketplace technology will fulfil Vista Global’s digitization strategy, providing all customers with an unmatched end-to-end service and seamless booking experience. The acquisition will enhance Vista Global’s formidable position offering the largest suite of services and advanced technologies to every private aviation customer.

Following JetSmarter’s successful digital partnership with XOJET, it will now bring its digital capabilities to the entire Vista Global group. JetSmarter’s industry-disrupting platform will therefore be integrated into the back-end technology of Vista Global’s brands VistaJet, Vista Lease and XOJET. The integration will significantly improve the ease and speed of the booking process for the 150,000 passengers traveling with any of the Vista Global companies each year, building upon its impressive track record of offering customers the most technologically advanced solutions in the private aviation industry.

Vista Global’s Founder and Chairman Thomas Flohr said: “Today’s acquisition is an important milestone for Vista Global – accelerating and executing our vision of digitizing the entire private aviation offering. Customers today want speed, reliability and value, which in today’s world is only possible with technology. Vista Global’s reach and infrastructure will take JetSmarter to the global stage to fully realize its potential. JetSmarter’s technology will digitalize Vista Global’s market-leading customer offering to Program Members and On Demand customers.”

Since its founding in 2012, JetSmarter has become the preeminent provider of technology-enabled service to the business aviation market with two million downloads to date. Today, JetSmarter’s digital platform allows both Members and On Demand customers to book private or shared trips instantly.

Following the acquisition, JetSmarter’s customers will benefit from the reach, resources and operational expertise of Vista Global group. Its growing customer base will have access to a wider fleet, wherever they are in the world, and enjoy the highest standards in private aviation as they join the Vista Global family. They will significantly benefit from the group’s unparalleled customer service and an unmatched in-flight experience.

Steven Langman, Managing Director and Co-Founder of Rhône Capital added: “Vista Global is marking a new major milestone in its development. The acquisition of JetSmarter is fully in-line with the company’s mission: to transform the nature of the business aviation sector and offer its growing customer base a fast and seamless access to its services through digital innovation.”

Behdad Eghbali, Managing Partner and Co-Founder of Clearlake Capital Group stated: “Vista Global is the undisputed market leader with unmatched vision to consolidate and digitally transform this fragmented industry. Vista Global’s worldwide fleet access, unmatched end-to-end service experience, and world-class management team will combine with JetSmarter’s digital technology leadership including digital bookings and On Demand crowdsourcing to further expand Vista Global’s leadership. We are thrilled to partner with Thomas Flohr and the talented management team at Vista Global and believe that, combined with Vista Global, JetSmarter will flourish and revolutionize the industry’s digital transformation.”

The transaction is expected to be completed in the second quarter, subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. As part of the transaction, all JetSmarter investors, inclusive of Clearlake Capital and Jefferies Financial Group, will become investors in Vista Global, supporting its future growth. Jefferies LLC acted as financial advisor to JetSmarter.

Travel News | eTurboNews

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Jet Airways leader gives in to pressure to quit

March 25, 2019 by Forimmediaterelease

In a major, although not unexpected development, Jet Airways founder and chairman, Naresh Goyal, and his wife, Anita, have resigned from the board.

The pioneer aviation leader, who founded the full-service airline 25 years ago, has been under pressure to quit. Etihad has a 24 percent stake in the airline, and its one director is also quitting, this writer learned.

The airline has to ground scores of its planes for non-payment of lease money. Goyal has written a letter to 22,000 Jet staff members saying that this is a new chapter, and not the end of the road.

The future course of Jet Airways will be decided by the lenders, led by State Bank of India, and an amount of Rs 1500 crores may be invested now to solve issues for the moment. The government is also expected to play an important role, as it is keen to see that the line is revived and not grounded at a time when aviation in India is growing.

Ajay Singh, SpiceJet chief, has called for policy changes to see that the aviation sector in the country grows.

It is important to keep the large network of routes of Jet Airways in order, so that in the future, the flight routes can be served again.

The next few weeks and months will be watched with keen interest in India and abroad, as things shape up, depending on several factors.

The country is also going to soon hold elections, and the outcome may also have an impact on the aviation scene.

Travel News | eTurboNews

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