Wheels Up’s SPAC reveals revenue, profitability, membership, fleet size and more

Wheels Up Cares fleet

Wheels Up ended 2020 with 10,995 active members and $690 million in revenues. It’s forecast to reach $912 million this year

Will Wheels Up be the first private jet company with its own co-branded credit card?

The private aviation company sees a future for the Wheels Up brand in luxury lodging, yachts, and experiences to credit cards and financial services

Wheels Up is going public via a SPAC. It’s provides a rare look into the world of private jet companies, which are either privately held or subsidiaries of large publicly traded companies, with limited public data.

Private jets fail to score at Super LV in Tampa

Super Bowl LV private jet arrivals

With the home team playing in the Big Game and COVID-19 putting a damper on travel, private jet arrivals to Tampa area airports were significantly down this year

Like the Kansas City Chiefs, private jets didn’t fare well against Tom Brady and his hometown Tampa Bay Buccaneers, according to data from Argus TRAQPak.

Wheels Up to go public via a merger with LVMH-backed SPAC

Wheels Up SPAC

The transaction values Wheels Up at an enterprise value of $2.1 billion and is expected to provide up to $790 million in cash proceeds when it closes in Q2

SPAC CEO Shakran sees “[M]any opportunities to leverage our experience and relationships to partner (Wheels Up) with other aspirational and luxury brands and to expand to international markets”

Following its acquisition spree, Wheels Up has the world’s second-largest for-hire fleet of private aircraft, behind only NetJets

Sometimes rumors do come true. As Reuters reported last week, Wheels Up Partners Holdings LLC this morning said it has entered into a definitive agreement to become publicly-traded via a merger with special purpose acquisition company, Aspirational Consumer Lifestyle Corp. (“Aspirational”) (NYSE: ASPL).

Brady vs. Mahomes pairs Wheels Up against Airshare

Wheels Up ambassador Tom Brady will try for his 7th Super Bowl title while Patrick Mahomes, who fronts for Airshare, will go for back-to-back Vince Lombardi Trophies

Two NFL greats will meet on Feb. 7 in Super Bowl LV in Tampa Bay as the hometown Buccaneers host the Kansas City Chiefs. Bucs quarterback Tom Brady is an ambassador for Wheels Up in private aviation, while Patrick Mahomes fronts for Airshare.

%d bloggers like this: