Wheels Up and the NFL Players Association will collaborate on experiences such as the NFLPA Rookie Premiere and NFLPA VIP party
When Wheels Up becomes publicly traded later today or tomorrow it will change its name to Wheels Up Experiences. To that end, it continues to roll out more lifestyle partnerships. Today’s announcement brings the private jet company together with the National Football Players Association.
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.
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.
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).