Vista Global Completes JetSmarter Purchase

Vista Global Holdings (VGH) has completed its acquisition of U.S.-based per-seat charter brokerage and app developer JetSmarter, the Dubai-based holding company confirmed recently.  JetSmarter joins VistaJet, XOJet, and Vista Lease in the VHG portfolio.

The purchase, announced in early April, provides VGH entry to the nascent per-seat charter market and a highly regarded mobile booking platform and tech development team. It also provides refuge for JetSmarter, recently beset by negative media attention, lawsuits, and reported government investigations. JetSmarter reportedly was in discussions at the time the purchase was announced to settle a class-action lawsuit arising from unilateral changes to its membership rules.

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With the deal consummated, “the [JetSmarter] technology will be embedded throughout the Vista Group,” a process expected to take 20 weeks, VGH founder and chairman Thomas Flohr told BJT. That will enhance online offerings, including catering, flight tracking, and concierge services at all VGH companies, he said.

JetSmarter’s signature offering, per-seat charter, is viewed skeptically by many in the charter industry, but Flohr likened its prospects to Uber’s now-popular Pool ridesharing feature, which was also derided when introduced. “I don’t think there’s a reverse gear on the shared economy,” said Flohr.