Let’s make a deal. The private jet M&A market is hot, but not without risks

Private aviation M&A

Vista Global’s deal yesterday with Red Wing that brings it 15 light jets to XOJET is the latest and doesn’t look to be the last

In just over 3 years, we’ve tracked over 50 deals, fundraises, launches, and bankruptcies

The COVID-19 crisis may be bringing the already simmering mergers and acquisitions market for private jet operators and brokers back to a boil.

Delta Air Lines values Wheels Up at $890 million

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.

Wheels Up adds whole aircraft sales unit

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.

Former Delta Air Lines exec named Chief Experience Officer of Wheels Up

Wheels Up Gail Grimmett

Gail Grimmett, a former senior executive with Delta Air Lines, has been appointed Chief Experience Officer at Wheels Up

A longtime executive at Delta Air Lines who is widely credited with turning the Atlanta-based company into a dominant player in New York’s ultra-competitive marketplace has been named chief experience officer at Wheels Up.

Wheels Up, Delta Air Lines to combine their private jet businesses

Delta Private Jets and Wheels Up will have over 190 private aircraft

The deal is expected to close in early 2020, subject to closing conditions and required governmental and regulatory approvals 

Delta will take an equity stake in Wheels Up becoming its largest shareholder

Financial terms of the transaction are not being disclosed

The transaction sets up a three-horse race with Directional Aviation and Vista Global as they battle market leader NetJets

Wheels Up’s busy 2019 included raising more money, acquiring light jet operator TMC Jets, tech platform Avianis, expanding its jet sharing membership, plus launching fixed-rate programs for light and super-midsize jets

Last week it announced a major revamp of its own jet membership programs

Is Wheels Up now poised for international expansion?

Wheels Up and Delta Air Lines this morning are announcing they have reached a definitive agreement to combine their private jet businesses.

“This groundbreaking partnership will democratize private aviation – making the convenience of private jet travel accessible to more consumers,” said Delta CEO Ed Bastian.

Delta Private Jets’ jet card sale offers over $30,000 in perks

Delta Private Jets

Jet card buyers can earn bonuses of more than 12% between extra funds, free nights at Exclusive Resorts, Apple computers, and more

On the heels of its Black Friday – Cyber Monday sale for its Sky Access empty leg program, Delta Private Jets is rolling out several significant promotions targeting regular jet card users. The deals are all valid through the end of December.

Delta Private Jets sets jet card offer for Saks Fifth Avenue customers

Offer benefits are worth at least $13,185 on a $150,000 jet card providing an 8.8% added value

Delta Private Jets has teamed with Saks Fifth Avenue in an “Open the door to luxury” promotion. The offer targets customers of the retailer.

The offer is valid through Dec. 31, 2019. It provides extra value for all Delta Private Jets products: jet cards, on-demand charter, and its Sky Access empty leg program.

%d bloggers like this: