Vista Global, parent of VistaJet and XO, reported a small net profit of $1 million in the first three quarters of 2024, according to a Financial Times review of its accounts.
That follows a net loss of $139 million in 2023 for the entire year.
Per the report this morning, Vista Global’s Adjusted EBITDA was up 7% to $600 million year over year on revenues of around $2.1 billion, also up 7%.
The $1 million net profit in the first three quarters of 2024 seems to be a significant improvement.
However, it’s not clear if and how much of the turn to net profit is based on a change to how Vista Global records depreciation.
FT reporter Dan McCrum wrote:
‘For 2023, Vista changed auditors to PwC and altered…
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