Wheels Up boosts full-year revenue guidance from $912 million to $1.05-$1.1 billion; plans extra $25 to $35 million on tech, customer experience, pilot retention, and private jet capacity
Since becoming a publicly-traded company last month, Wheels Up is earning plaudits from at least one analyst following its first earnings call. At the same time, executives outlined how the private aviation provider deals with record demand that is swamping the industry.
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.
Jet card brand Marquis Jet has been retired by NetJets. It was acquired when it bought Marquis Jet Partners in 2010
The jet card world is losing another iconic brand. After Wheels Up dropped the Delta Private Jets brand in February, NetJets has retired the Marquis Jet brand. It had been using the mark for its jet cards.
Kenny Dichter and Wheels Up doled out less than $100 million in cash to build the second-largest private jet operator with a $2 billion valuation
When Wheels Up’s acquired 5th-biggest Part 135 charter operator Mountain Aviation in January, it pushed the group past Directional Aviation’s Flexjet as the second-largest for-hire private aircraft operator in the U.S. For Wheels Up founder and CEO Kenny Dichter, it was a day at the beach compared to another cold New York winter morning in early 2019. At that point, Wheels Up didn’t operate a single aircraft. Founded in 2013, its owned and leased fleet was outsourced to Gama Aviation Signature. Wheels Up was a big brand. Yet, it was merely a marketing organization selling memberships onto what was then mainly a fleet of King Air 350i turboprops.