VistaJet Group Holding Dubai-based parent Vista Global Holding Limited has secured a previously announced USD600 million investment from a consortium of investors led by Singapore-based RRJ Capital, it announced in a press release.
The new investors also include Andalusian Private Capital, a New York-based investment firm founded by Jeffrey Kaplan and Nicholas Savasta. Head investor RRJ Capital was founded in 2011 by Malaysian businessman Richard Ong.
The transaction is expected to close by the end of the month.
The funds are intended to boost cashflow generation, reduce debt, and optimise the group’s capital structure, the Dubai-based holding company confirmed. Vista currently has USD4.4 billion in debt, mostly as a result of purchases of aircraft and rivals. It initially sought up to USD1 billion from investors.
VistaJet operates around 360 aircraft worldwide, according to ch-aviation fleets, under subsidiaries VistaJet (Malta), VistaJet (Germany), and via partnerships with numerous operators under the Vista America brand.
Earlier, Vista founder and group chairman Thomas Flohr stated that an IPO was not imminent following the investment, even though all options remain on the table. However, Flohr remains the majority owner even after the investment.
