November 12, 2024
Following its acquisition of TMC Jets and Avianis, plus the launch of its Connect membership earlier this year, and flush with $128 million in new funding, Wheels Up continues its aggressive moves.
During the National Business Aviation Association’s annual conference being held in Las Vegas, founder and CEO Kenny Dichter said in the next year the company will launch a no-cost membership enabling users to book on-demand charters using dynamic pricing the from its Wheels Up Marketplace launched in February.
According to Dichter, members in the new tier will be able to book charters using dynamic pricing from over 1,250 aircraft in its preferred network, including its current fleet, which includes 119 King Air 350i, Citation Excel/XLS, and Citation X.
Dichter said the move will benefit its core Individual and Corporate members by helping increase fleet utilization.
“If we have aircraft and pilots sitting idle on a Tuesday or Wednesday afternoon, why not increase utilization of these assets,” he said.
After adding fixed rates for members booking both light jets and super-midsize aircraft, Dichter said in the next several weeks, Wheels Up will launch fixed rates for large-cabin private jets.
In doing so, Wheels Up has in 18 months remade itself from a program focused on the King Air 350i to one that he says can handle all of the flying needs for its members.
Separately, Dichter said Wheels Up is on track to generate over $100 million in off-fleet business. He says in the future he expects off-fleet revenues to make up 80% of sales.
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