Wheels Up in talks with SPAC to go public at $2 billion valuation

Wheels Up

The Wheels Up move follows private aviation and eVTOL focused SPAC filings from Flexjet chairman Kenn Ricci, Surf Air, and Blade in recent months

This morning, a report from Reuters claims Wheels Up is in discussions with Aspirational Consumer Lifestyle Corp to go public through a merger with the SPAC blank-check acquisition company. The article said the deal could value the private aviation provider at “more than $2 billion.”

According to a Private Jet Card Comparisons’ analysis, Wheels Up is the second-largest operator of for-hire private aircraft behind NetJets with an estimated 8.3% of the market.

Wheels Up adds long-flight rate cap

Wheels up

Flights between the East Coast and Western U.S. are now capped at $29,995, plus FET

Wheels Up is already leveraging its purchase of Citation X operator Mountain Aviation two weeks ago. It’s rolling out a rate cap on flights between the East Coast and Western U.S.

Wheels Up acquires private jet operator Mountain Aviation

Wheels Up Mountain Aviation

Wheels Up has acquired Mountain Aviation, the 10th largest U.S. Part 135 private jet operator, adding 59 private aircraft to its fleet

The deal makes Wheels Up the world’s largest Citation X operator and sets it up to be a major player in transcontinental private jet flights

Add Mountain Aviation to the list. After acquiring Delta Private Jets, Gama Aviation Signature, and TMC Jets over the past 19 months, Wheels Up has acquired the 10th largest private jet charter operator in the country.

A look at new Jet Card providers from 2020

New jet cards 2020

These companies launched jet cards and private jet memberships during 2020

Recently, Sentient Jet CEO Andrew Collins told Bloomberg that private jet cards and membership were having a “moment.” Judging by the number of new entrants, the trend is not going unnoticed.

FXAIR says it has arranged over 4,000 private jet charters since its launch

FXAIR private jet charter

Directional Aviation’s on-demand private jet charter brokerage FXAIR reports its off to a strong start since launching at the end of July

In July, Directional Aviation’s OneSky Flight unit launched FXAIR. The on-demand private jet broker focuses on “premium” charters.

Sentient Jet’s record December propels it to the $400 million sales mark

Sentient Jet pricing and reviews

The inventor of the jet card enjoyed the best sales month in its 21-year history in December. It has lofty expectations for 2021, Sentient’s CEO Andrew Collins tells Bloomberg

The year 2021 begins with one of the jet cards segment’s largest players coming off a record month and record year.

In a podcast with Bloomberg’s Paul Sweeney, Sentient Jet CEO Andrew Collins told the host that December was the biggest month for jet card sales in its 21-year history.

Blade set to go public in SPAC

Fly Blade spac

The deal values Blade at an estimated pro forma equity value of $825 million

Blade Urban Air Mobility follows SurfAir and Kenn Ricci, the principal of Flexjet, Sentient, FXAIR, PrivateFly owner Directional Aviation, into the public markets. Like the West Coast flight-sharing service and Ricci’s Zanite Acquisition Corporation, the vehicle is a special purpose acquisition company known as a SPAC.

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