The Billionaire Thomas Flohr is expanding his reach into the private jet business competing with the likes of Warren Buffett with his purchase of XOJET.
The move came through the recently formed Vista Global Holding company acquiring XOJET. The agreement for purchase together with its VistaJet subsidiary delivers Vista Global an owned fleet of 115 super midsize, large cabin and ultra-long-range private jets.
The interest in the California-based the operator of private jets by Thomas Flohr is the integration of a business that is a retailer of jet cards and on-demand charter. XOJET was a large and growing business.
By owning its aircraft, instead of a business model of managing them for owners provides Vista Global more flexibility and consistency than managed fleet operators who need to get permission and abide by owner rules when they charter the jets out.
The business model of NetJets, VistaJet and several other top industry players are a focus on fractional shares, leases, and jet cards as well as aircraft management and charter through Executive Jet Management; each with its different strategy to chip away at the leadership position of Berkshire Hathaway owned NetJets.
Essential all are targeting the same market with their own brand and product marketing to attract UHNWs and corporations that don’t want to own their own private jets, and instead make use of charters, jet cards and leases instead of full or even fractional ownership.
VistaJet launched in 2004 with three business jets, now it chases down the market leader NetJets as it aims to continue its growth.