Wheels Up announces fuel surcharges; outlines operational improvements

Wheels Up

In its Q4 financial call, Wheels Up announced record sales, losses, and detailed plans to reduce costs, and improve operations as cash grew from $535 million to $785 million

As expected, Wheels Up’s losses in Q4 mounted. However, executives painted a bright picture based on moves that increase efficiency, operational integrity and reduce costs in coming quarters. They also said cash and cash equivalents surged by a quarter billion dollars to $785 million as of December.

Wheels Up is the third-largest operator in North America, based on fractional and charter flight hours.

Analyst upgrades Air Partner as jet card sales jump 36.8%

photo of person holding ceramic mug

Analyst Canaccord Genuity raises Air Partner forecasts and target price to reflect the private aviation provider’s improved outlook

An analyst tracking Air Partner is upping its forecast and target price for Air Partner citing a strong start to its results for the current financial year.

Fitch upgrades ratings for Flexjet, Sentient Jet parent OneSky Flight

Flexjet

Flexjet fractional share hours sold increased 35% in 2021 Q1

What a difference a year and a couple of months make. Fitch Ratings has upgraded OneSky Flight’s Issuer Default Rating (IDR) to ‘B’ from ‘B-. Fitch also upgraded the company’s senior secured term loan to ‘BB-‘/’RR2’ from ‘B’/’RR3’. The Rating Outlook is Stable. OneSky is a unit of Directional Aviation. Its private aviation brands include Flexjet, Sentient Jet, FXAIR, PrivateFly, and Halo. In April 2020, Fitch had downgraded OneFlight citing, “the effects of a global drop in demand related to the coronavirus pandemic.”

Exclusive: Flexjet sets 2021 Europe launch; Sentient Jet to add health and hygiene requirements for operators

Flexjet Sentient Jet Flex Jet

In a wide-ranging interview, Directional Aviation’s boss Kenn Ricci tells Private Jet Card Comparisons Flexjet’s Europe growth is moving forward, it is expanding use of private jets to position pilots, and Sentient Jet will introduce health-safety requirements for its partner operators

A McKinsey study reveals 90% of those who can afford to fly privately don’t; However, UHNWs and corporate executives are often part of the high-risk profile for COVID-19

With tailwinds gradually picking up, Directional Aviation Capital’s principal Kenn Ricci announced his OneSky Flight’s Flexjet unit will expand its European presence in 2021.

Before the Covid-19 Coronavirus crisis, plans had called for a launch this month during the annual EBACE exhibition in Geneva, Switzerland.

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