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.
RISE is targeting fliers traveling privately 15 hours per year
Vista Global has also dropped references to JetSmarter in its XO branding
XO, which was formed by the merger of JetSmarter and XOJET, is making more tweaks to its membership offerings.
The biggest is the launch of RISE, a new tier targeting private travelers who fly less 15 hours per year.
It is priced at $595 and joins Select Access, Signature Access and Elite Access in the XO line-up membership line-up.
In a press release, the company said, “RISE makes private aviation more accessible and valuable for those who seek to use it more frequently – or have never experienced it – as well as those who fly private regularly, but are not getting the elevated service, flexibility and quality aircraft they deserve.”
Most jet cards offer two very different pricing models, but which one is best?
The genesis of the jet card was to provide a product that gave the user some of the attributes of full and fractional ownership (have an aircraft at your disposal and knowing how much it will cost to fly) while taking away the