Tag: Delta Air LInes

Wheels Up’s SPAC reveals revenue, profitability, membership, fleet size and more

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Wheels Up

Wheels Up ended 2020 with 10,995 active members and $690 million in revenues. It’s forecast to reach $912 million this year

– Will Wheels Up be the first private jet company with its own co-branded credit card?

– The private aviation company sees a future for the Wheels Up brand in luxury lodging, yachts, and experiences to credit cards and financial services

Wheels Up is going public via a SPAC. It’s provides a rare look into the world of private jet companies, which are either privately held or subsidiaries of large publicly traded companies, with limited public data.

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Private Aviation Deal Book by Private Jet Card Comparisons

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Private Aviation Deal Book

Let’s make a deal. The M&A market for private jet operators is hot. Over 50 deals, fundraises, launches, and bankruptcies detailed

(Updated Feb. 8, 2021) The COVID-19 crisis may be bringing the already simmering mergers and acquisitions market for private jet operators and brokers back to a boil.

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Delta Air Lines values Wheels Up at $890 million

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Wheels Up Delta Air Lines

The airline’s Q3 SEC filing valued its 27% stake from combining Delta Private Jets into Wheels Up at $240 million

Delta’s stake in Wheels Up is now worth nearly twice its 9% in Air France-KLM, one of Europe three largest airline conglomerates

When Delta Air Lines announced the deal to combine its Delta Private Jets unit into Wheels Up in December 2019, and then it closed in January 2020, terms were not disclosed.

However, in the airline’s 10-Q filing for the quarter ended Sept. 30, 2020, a number of details were revealed for the first time.

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Wheels Up adds whole aircraft sales unit

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Wheels Up appoints Bergeson COO

Wheels Up Aircraft Sales enables the private aviation provider to offer one-stop shopping

Jet sharing, empty legs, on-demand charter, fixed-rate jet cards, aircraft management, MRO services, and now full aircraft sales brokering are under the Wheels Up brand

With a powerful digital presence and brand recognition only matched by market leader NetJets, Wheels Up is once again showing it intends to be a driving force in private aviation.

This morning’s announcement of Wheels Up Aircraft Sales puts the company into aircraft brokerage, acquisition, trade, and advisory services.

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