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With a fleet of more than 70 aircraft, the transaction could value company at $10 billion
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Vista was founded by Swiss billionaire Thomas Flohr with just three planes in 2004
The Dubai-based private jet company, Vista Global Holding Ltd., might go public through a merger with a Special Purpose Acquisition Company (SPAC), reported Bloomberg citing people familiar with the matter.
A transaction could value Vista at more than $10 billion including debt, said the people who asked not to be identified due to information confidentiality. The company forecasts revenues in 2021 of about $450 million before interest, taxes, depreciation and amortization, one of the people said.
Terms of the potential deal haven’t been finalized and the identity of the blank-check firm couldn’t immediately be ascertained.
Vista was founded by Swiss billionaire Thomas Flohr with just three planes in 2004. The company, which has partnered with Bombardier for its jets, now has a fleet of more than 70 aircraft.
In 2019, Vista, which is headquartered at the Dubai International Financial Center, acquired JetSmarter which allows travelers to book private jets on demand, reflecting a trend of moving away from private jet ownership globally as more people choose to buy flying hours instead.
