Search Site

Trends banner

TikTok’s US future uncertain

It must find non-Chinese owner to avoid ban.

Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Dubai private jet company to go public

Chinese businessmen leave a Gulfstream G650 luxury business jet during the Asian Business Aviation Conference & Exhibition (ABACE2014) at the Shanghai Hongqiao airport on April 15, 2014. Private plane ownership in China is still miniscule compared to countries like the US. State media reported only 150 such aircraft registered in 2011, despite an estimated one million millionaires as a result of the nation's economic boom. AFP PHOTO/Mark RALSTON (Photo credit should read MARK RALSTON/AFP/Getty Images)
    • With a fleet of more than 70 aircraft, the transaction could value company at $10 billion

    • 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.