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 launches combined aircraft management group

Wheels Up Aircraft Management

Wheels Up is leveraging its acquisitions of Delta Private Jets and Gama Aviation Signature with a dedicated sales group to grow its share of the fragmented private aircraft management sector

After closing on the acquisitions of Delta Private Jets and Gama Aviation Signature earlier this year, Wheels Up now wants to leverage those company’s sizable aircraft management businesses under the banner of its newly formed Wheels Up Aircraft Management Group.

Wheels Up, Textron go orange to support Feeding America’s Hunger Action Month

Wheels Up Feeding American Orange King Air 350i

After Meals Up generated donations supporting over 47 millions meals for Feeding America’s COVID-19 relief effort, Wheels Up has revealed a specially painted KingAir 350i to continue the awareness push

Wheels Up, the second-largest operator Part 135/91K operator in the U.S., has joined with Textron Aviation to repaint one of its signature blue Beechcraft King Air 350is orange to support Feeding America’s Hunger Action Month.

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.

Dumont Aviation gains $3 million in CARES Act funds

Dumont Aviation

Top 25 private jet charter operator Dumont Aviation is the latest jet card provider to get payroll support

Updated: Our Private Jet Operator CARES Act Relief Scorecard shows how much the 25 largest U.S. fractional and charter operators received in payroll support

Delaware-based Dumont Aviation has received just under $3 million in payroll support as part of the CARES Act. The operator of owned and managed private jets ranks 24th for flight hours in the U.S. among Part 135 and 91k operators, according to Argus data (table below).

XOJET Aviation rings up $13 million in CARES Act funds

XOJET XO

The private jet charter operator is part of Vista Global Holdings, which includes VistaJet and brokerage arm XO

Our Private Jet Operator CARES Act Relief Scorecard shows how much the 25 largest U.S. operators received in payroll support

Ft. Lauderdale-based XOJET Aviation is the latest of the major private jet charter and fractional share players to have signed an agreement to receive funds as part of the CARES Act. It entered into an agreement with the Treasury Department last month providing $13.1 million.

Memorial Day weekend fractional and charter private jet flights surged to 58% of 2019 levels

While airline passenger counts stayed at just 12% of last year’s holiday weekend, the private jet travel rebound continued

From the Wednesday prior to Memorial Day through Tuesday, the number of passengers who passed through TSA checkpoints hovered at just 12% of 2019 levels.

During the same period, fractional and charter operator flights surged to 58% of 2019 levels, continuing an upward trek. The data from Argus affirmed the rebound for private jet operators, which just last month had seen flying drop to just 20% of last year’s level as the Covid-19 stay-at-home orders ground travel to a virtual halt.

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