JetSmarter - discussion and experiences

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JetSmarter is a membership program that allows members to fly on empty legs of private jets (JetDeals) and seats on scheduled private jet shuttles (JetShuttle).
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Old Apr 25, 19, 9:28 am
  #2401  
 
Join Date: May 2013
Posts: 289
FBI investigating JetSmarter

https://www.cnbc.com/2019/04/24/fbi-...customers.html
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Old Apr 25, 19, 10:25 pm
  #2402  
 
Join Date: May 2013
Posts: 289
Originally Posted by John Q. Customer View Post
Vista bought an app, and thousands of current and ex-member's names and addresses who despise JetSmarter, oh, and lawsuits.
looks like the CNBC anchor scooped John Q’s comment (video):

https://www.cnbc.com/video/2019/04/2...customers.html
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Old May 1, 19, 2:50 pm
  #2403  
 
Join Date: Mar 2001
Location: NYC, NY
Posts: 27
Originally Posted by dval44 View Post


looks like the CNBC anchor scooped John Q’s comment (video):

https://www.cnbc.com/video/2019/04/2...customers.html
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Old May 1, 19, 2:51 pm
  #2404  
 
Join Date: Mar 2001
Location: NYC, NY
Posts: 27
JS's key investors are now invested in Vista (equity swap).

Vista must not be doing very well, or needed investors.

No real JetSmarter members would ever join Vista. So, was it a real purchase of the business or an ASSET purchase?
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Old May 4, 19, 9:31 am
  #2405  
 
Join Date: May 2013
Posts: 289
Originally Posted by John Q. Customer View Post
JS's key investors are now invested in Vista (equity swap).

Vista must not be doing very well, or needed investors.

No real JetSmarter members would ever join Vista. So, was it a real purchase of the business or an ASSET purchase?
I don’t really understand your argument here. The fact that VistaJet bought an app company with no underlying assets and no valuable customer list, presumably for millions, shows that they are struggling? If they are struggling, why would they buy an app company? When you say it was an “ASSET” purchase by vista, what assets did they buy?

I have always been suspicious of vista’s over-the-top founder, his claims and press releases, etc.
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Old May 5, 19, 9:25 am
  #2406  
 
Join Date: Jul 2016
Posts: 6
Why would JS customers not join Vista? There has to be a total of 30-40 thousand names? Vista acquired a working App they can use for Vista and XO, seems smart. And "assets" means Vista did not buy the actual company and its related lawsuits, which also seems a smart move.
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Old May 5, 19, 7:58 pm
  #2407  
 
Join Date: May 2013
Posts: 289
Originally Posted by Mike Azzarello View Post
Why would JS customers not join Vista? There has to be a total of 30-40 thousand names? Vista acquired a working App they can use for Vista and XO, seems smart. And "assets" means Vista did not buy the actual company and its related lawsuits, which also seems a smart move.
Typical JetSmarter member was lured in with a competitive alternative to commercial. Average yearly customer spend is probably something around $10-20k I would guess.

VistaJet caters to the high end on-demand jet market. Average spend per *flight* is probably around $50k and per year is probably around $200k-300k.

It's two different market segments. One is club promotors in Miami with $5k per year to spend for Instagram pictures, the other is Russian Oligarchs and Chinese CEOs chartering Globals for $200k a pop.

Thanks for the clarification on "asset purchase" vs. business purchase.
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Old May 11, 19, 5:49 am
  #2408  
 
Join Date: Mar 2001
Location: NYC, NY
Posts: 27
Vista has an app.

You would think they would want JS members - past ones and whatever is a "present member" now.

Vista CEO seems sketchy.

If you want to charter your best bet is having a network of brokers to wheel and deal with. There are deals to be had if you put in a bit of effort.

JUST SAW THIS ON YELP:


My wife and I were members. She was SMART I was SOPHISTICATED.

They took our money, always lied to us, made our memberships useless and then continued to lie to us. Essentially, and in a nutshell, EVERYTHING they said we would get was a lie.

We filed a lawsuit against them last year and will not stop until SERGEY is behind bars along with as many of the staff, and investors (One of whom, if not more, had people that they placed inside JetSmarter mid last year) that knew what was going on, that also committed and were part and parcel of the fraudulent activity.

When employees leave they are made to sign NDAs. They had me sign an NDA under the auspice that they would work out a SIDE DEAL with me. Then, after signing the NDA, many months later, Gularson said that the investors had requested that no more side deals be made with ripped off and unhappy members. They strung me along from June until my membership expired in December. 100% fraud. Then, when my membership was two weeks from expiring (the membership that was useless) I was sent a message that "At this time, you will not be able to renew your membership with us at JetSmarter. We hope you are able to enjoy our services until the expiration of your membership on XXXXXXXXXXX." Thank you. - Shane

LIARS (just a sampling of the cast of characters):

Chris Jurasek (originally tied to ClearLake - a JetSmarter investor and then given a murky position at JetSmarter)
John Gularson (COO - absolute liar, con artist, fraud man...)
Mike Flickinger
Nicole Russell (absolute, pathological liar)
Shane McQuaid
Richard Mozeleski
Tim Stephens
David Mejia
Erik Moran

Last edited by John Q. Customer; May 11, 19 at 9:58 am
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Old May 12, 19, 1:31 pm
  #2409  
 
Join Date: May 2013
Posts: 289
Originally Posted by John Q. Customer View Post

Vista CEO seems sketchy.

If you want to charter your best bet is having a network of brokers to wheel and deal with. There are deals to be had if you put in a bit of effort.
I'd second both of these. Flohr puts out a lot of empty "news wires" about how "Visionary Thomas Flohr has led Vistajet to a 400% revenue gain" while of course not presenting any hard data. He also seems very focused on being called a billionaire but there appears to be some issue there. He dropped off the Forbes list this year for undisclosed reasons.

Regarding charter quotes, I have had very good luck recently with PrivateFly. It seems to be a good blend of old fashioned charter and tech. As just one example fo shopping around, a broker gave me a quote for a multi-leg South America itinerary for $220,000 best price. I asked another broker (PrivateFly), and they found a similar aircraft and better operator, for $178k. One email literally lopped off $42k.
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Old May 15, 19, 3:37 pm
  #2410  
 
Join Date: May 2019
Posts: 8
I read an article today that VistaJet has sold $550 million in unsecured bonds. Does this mean they're in trouble?
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Old May 15, 19, 4:50 pm
  #2411  
 
Join Date: Oct 2006
Location: New York, NY
Posts: 428
Originally Posted by EagenProperties View Post
I read an article today that VistaJet has sold $550 million in unsecured bonds. Does this mean they're in trouble?

The owner of XOJET and VistaJet will use funds to pay debt due in 2020 and 2021



Debtwire is reporting VistaJet Malta Finance PLC and XO Management Holding Inc., units of Dubai-based Vista Global Holdings, successfully sold $550 million in senior unsecured bonds earlier this week. The news service, which covers the worldwide debt market, said Vista had to increase the coupon of the deal due to investor concerns about the cyclical nature of private aviation and UHNW spending during a downturn.

“Definitely a good thing”

Paula Seligson, a reporter with Debtwire who wrote the story said overall the deal is positive news for Vista Global. She said the funds which will be used to refinance two pieces of debt due in 2020 and 2021, and it means the company now doesn’t have any more major refinancing obligations until 2024. She said companies typically refinance debt one to two years before it is due, so the timing of the bond offering was typical.

“It’s definitely a good thing,” Seligson told Private Jet Card Comparisons.

Marketing material promoting the bonds showed Vista Global is projecting a consolidated EBITDA of $353 million in 2019. After interest payments and capital expenditures, the group would have a free cash flow of $188 million, according to Debtwire.

However, Seligson noted the company also expects to pay approximately $200 million per year additionally for the next four years in aircraft financing expenses, implying a negative cash flow of approximately $12 million based on its 2019 forecast. She said the company didn’t disclose what type of flexibility it might have on those payments.


https://privatejetcardcomparisons.co...secured-bonds/
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Old May 17, 19, 8:39 am
  #2412  
 
Join Date: Mar 2001
Location: NYC, NY
Posts: 27
Maybe this can pay for Sergey's igloo in Siberia? How is that Russian punk not in jail?
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Old Jun 5, 19, 5:35 pm
  #2413  
 
Join Date: Oct 2006
Location: New York, NY
Posts: 428
Originally Posted by John Q. Customer View Post
Maybe this can pay for Sergey's igloo in Siberia? How is that Russian punk not in jail?
Looks like the deal with VistaJet closed.

Less than two months after announcing plans to buy JetSmarter, a spokesperson for Vista Global confirmed to Private Jet Card Comparisons that the deal has closed.

While no official announcement was made, a link to the JetSmarter website now appears at the bottom of the VistaJet website next to XOJET, the U.S. operator and charter broker it purchased last fall.

Similarly, while Vista Global announced the deal to buy XOJET, it didn’t issue any release when the deal closed.


https://privatejetcardcomparisons.co...of-jetsmarter/
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