Vista—the global private aviation group founded by Swiss tycoon Thomas Flohr—is raising $600 million from a consortium of investors-led by Singapore-based private equity firm RRJ Capital.
The fresh capital from RRJ, New York-based Andalusian Private Capital and other investors will optimize Vista’s capital structure, enhance free cash flow generation, and reduce indebtedness, Dubai-based Vista said in a statement, adding that it will broaden its investors base and further boost its financial footing.
“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,” Richard Ong, cofounder and CEO of RRJ Capital, said in the statement.
RRJ—which manages $25 billion in capital invested in key industries—was cofounded in 2011 by Richard Ong (a former banker at Goldman Sachs) and his brother Charles, who was previously chief investment officer at Singapore state-owned investor Temasek. The firm has invested in aviation , healthcare, finance, logistics and technology across Asia Pacific, Europe and the U.S.
“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,” Vista Chairman Flohr said.
Vista, which also counts New York-based Rhone Capital among its long-term investors, has been expanding its fleet to capture the surge in demand for private jet services around the world.
Flohr started Vista in Europe in 2004 after his frustration with services offered by traditional private jet leasing companies. Pioneering membership subscriptions for business jets, he rapidly expanded Vista through a series of acquisitions. It now has a global fleet of over 360 aircraft.
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