In advance of its public listing on the New York Stock Exchange, the company presented analysts its lofty ambitions to revolutionize private jet access
Wheels Up founder Kenny Dichter believes the addressable market for private aviation can grow from its current $31 billion to $80 billion by 2025. It plans to be a key driver. Here’s how…
A detailed overview of each presentation during Wheels Up’s Analyst Day
“So if you’re tired of the same old story…turn some pages.” – REO Speedwagon
Ready or not, Kenny Dichter and Wheels Up plan to change the face of private jet access. It’s a big leap from marketing ploys like selling memberships through Costco. Beyond stump speeches at industry conferences, there will be the harsh spotlight from being a publicly traded company. If he’s successful, the lifelong entrepreneur will find his name alongside aviation innovators such as Pan Am founder Juan Trippe, former American Airlines chairman Robert Crandall, who ignited revenue management and frequent flyer programs, and inventor of fractional private jet ownership, Richard Santulli. The latter created NetJets, the world’s largest private jet operator, and gave Dichter his entree into the industry. In fact, Dichter might fly higher than all of them. Success would make Dichter the Jeff Bezos of private jets.
In a two-hour presentation to financial analysts Friday morning, the founder and CEO of Wheels Up, along with his leadership team, discussed various milestones, projected growth, and insights on where it’s coming from. More than that, they unveiled a dramatic vision for a private aviation marketplace they say could more than double the addressable market by 2025, democratizing the segment down to low single-digit millionaires. It will certainly be key in their plan to grow revenues from $695 million last year to over $2.1 billion by 2025.
Shared private jet flights you can purchase by-the-seat are now covered in a new guide exclusively for subscribers of Private Jet Card Comparisons
JetSmarter is gone, but the concept of sharing a private jet is finally taking off. By-the-seat and jet sharing private jet services are expanding as more consumers seek to avoid large airport terminals and big airplanes. A dozen providers now offer a network of by-the-seat and crowd-funding private jet services covering the U.S. and beyond. For the first time, Private Jet Card Comparisons has cataloged these services and options, giving subscribers an exclusive Guide to Shared Private Jet Services.
Surf Air’s growth in Europe has been tepid so far, however, it and others continue to pursue a by the seat private aviation model against a backdrop of mixed results
Seat sharing, where travelers buy single seats on private aircraft, either via memberships or on individual flights, is considered a growth area for business aviation getting plenty of play in consumer media. The major benefit is saving time at airports by using private aviation facilities while paying prices at or near what the commercial airlines charge. For short hops, it can cut total travel time significantly. However, the model may be in trouble once again. Two sources tell Private Jet Card Comparisons that upstart Surf Air Europe has recently pared back its marketing and sales team there.