Wheels Up replaces Delta Private Jets as the exclusive American Express Premium Private Jet Program provider for U.S. Centurion and Platinum cardmembers
Wheels Up is the new American Express Premium Private Jet Program partner. It replaces Delta Private Jets, the Amex partner since 2016. Wheels Up, of course, purchased Delta Private Jets in a deal that closed a year ago in January. In other words, Wheels Up essentially renewed the existing DPJ partnership. However, that analysis ignores that the terms of the new relationship are significantly different.
Aspirational Consumer Lifestyle Corp. sets July 12 to approve its proposed business combination with Wheels Up Partners Holdings LLC
SPAC Aspirational Consumer Lifestyle Corp. (NYSE: ASPL) has set July 12, 2021, as the meeting date for the extraordinary general meeting of its shareholders to approve its merger with Wheels Up Partners Holdings LLC. It expects that the business combination will close on July 13, 2021, subject to the approval of Aspirational’s shareholders and the satisfaction of other customary closing conditions, according to a press release.
As it looks ahead towards its IPO via SPAC merger, Wheels Up reports revenues, memberships and flying is up while its financial loss is down
Wheels Up for the first time reported quarterly results. They come ahead of its planned merger with SPAC Aspirational Consumer Lifestyle Corp. Once completed, Wheels Up will trade on the NYSE under the ticker symbol UP.
The value of Delta Air Lines’ stake in Wheels Up increased to $520 million from $210 million, surpassing its 13% holding in Korean Air
Delta Air Lines’ decision to sell Delta Private Jets has yielded a huge gain on paper. It’s up over 100% just since the fourth quarter. In its latest 10-Q filing, the Atlanta-based airline increased the carrying value of its 24% interest in Wheels Up to $520 million. That makes the New York-based private aviation company its largest equity ownership stake.