The on-demand charter and jet card broker is also targeting
Air Partner says new research showing a demand for tailor-made experiences and non-traditional events is boosting interest in its capabilities for group charters.
“Whether for an intimate annual meeting for 20 or an
industry event for 20,000, Air Partner’s dedicated team of experts has full
flight customization capabilities to create the best possible experience for a
successful event,” said David McCown, president of Air Partner U.S.
The jet card membership company said it will use the money for accelerating membership growth and possible acquisitions
Wheels Up said that it has completed its Class D equity capital raise of $128 million, according to a press release received by Private Jet Card Comparisons. The funds will be used to accelerate membership growth, fund technology investment, and perhaps even more acquisitions. In 2017, it raised $117.5 million in equity capital and $90 million in debt financing via KKR.
Earlier this year it had said it had hired Bank of America and Goldman Sachs to advise it on strategic initiatives.
New to the company’s roster of institutional investors from this round are funds managed by Franklin Templeton, which co-led the round with funds and accounts advised by T. Rowe Price and Fidelity Management & Research, along with other institutional and private investors.
The company’s post-money enterprise valuation is north of $1.1
billion, according to the release.
The on-demand charter and jet card broker is investing in the industry’s future
Paramount Business Jets (PBJ) is helping to promote aviation careers and encourage the next generation of industry professionals by supporting a variety of scholarships available to high school and college students at the local, national and international levels.
“This amazing and wonderful industry offers many paths for students to not only discover their ideal career, but also a lifelong passion for aviation,” said Paramount Business Jets founder and CEO Richard Zaher in a press release, adding, “I absolutely believe those of us who’ve found our own callings within the aviation community have a responsibility to help these students reach their full potential and to develop our industry’s future.”