Bombardier Global 7500 owned and operated by Vista.
Vista, a global private aviation group founded by Swiss tycoon Thomas Flohr, will raise $600 million from Singapore-based private equity firm RRJ Capital and an investor-led consortium.
New York-based Andalusian private capital and other investors' new capital will optimize Vista's capital structure, enhance free cash flows and reduce debt.
“With more than 20 years of industry innovation, and global operations in all markets, this strategic investment in Vista marks an exciting new chapter in our shared journey,” Richard Ong, co-founder and CEO of RRJ Capital, said in a statement.
RRJ (managing $25 billion in funding to invest in key industries) was founded in 2011 by Richard Ong (a former banker of Goldman Sachs) and his brother Charles, formerly the chief investment officer of Singapore state-owned investor Temasek. The company has invested in aviation, healthcare, finance, logistics and technology in Asia Pacific, Europe and the United States
“Today's announcement is a strong recognition of our future strategy and long-term vision, and also provides us with a good partner for the years ahead,” said Vista Chairman Flohr.
Vista, which also lists New York-based Rhone Capital as its long-term investor, has been expanding its fleet to capture a surge in demand for private jet services worldwide.
Flohr was frustrated by the services offered by traditional private jet rental companies and founded Vista in Europe in 2004. He quickly expanded his membership subscription for commercial aircraft through a series of acquisitions, rapidly expanding Vista. Now, it has a global fleet of more than 360 aircraft.
