The acquisition follows the purchase of Delta Private Jets, Travel Management Company, and Avianis, and squares it up against NetJets
Wheels Up is looking to move closer to NetJets and pull away from Directional Aviation and Vista Global Holdings. Its acquisition of Gama Aviation LLC this morning gives it over 300 owned and managed aircraft.
Gama Aviation Signature, as it is known, already was managing the Wheels Up fleet of King Air 350i, Citation Excel/XLS, and Citation X aircraft.
It follows its acquisitions of Travel Management Company last June and Delta Private Jets, completed in January.
Wheels Up becomes the first major jet card provider to offer four guaranteed availability jet cabin categories and a turboprop program on a national basis
What a difference a year makes. At this time last year, rumors were swirling. Wheels Up was expanding beyond its core King Air 350i and Citation Excel fleet with an off-fleet light jet program.
The new programs, effective January 2nd, will offer dynamic trip pricing with capped hourly rates and guaranteed availability nationwide. They will run across five cabin categories, from its King Air 350i fleet to light, midsize, super-midsize, and large jets.
Following its $128 million raise last month, and acquisition of Travel Management Company with 24 light jets over the summer, Wheels Up has made a tech buy
Wheels Up has acquired Avianis Systems, LLC, for an undisclosed amount. It comes just six weeks after raising $128 million in a Class D Equity Round giving the New York-based private aviation membership company a billion-dollar valuation. The deal was first reported by Corporate Jet Investor in advance of its Revolution.aero conference being held today and tomorrow in San Francisco.
Booking a private jet should be as easy as booking a car with Uber or booking a home with AirbnbKenny Dichter, CEO, Wheels Up
Avianis, according to its website, provides a comprehensive platform approach to managing a complete flight operation in one system. In its pitch to its B2B customers, it claims, “This enables a more holistic and cyclical view of the entire business that allows you to stay in touch with every detail of your business in one web-based platform.”
The new program follows its light jet program introduced earlier this year.
When Wheels Up’s Kenny Dichter told Squawk Box on CNBC in January that it was working on strategic initiatives, common wisdom in the industry was the founder and CEO was following a similar move by XOJET in 2018, which ultimately led to its acquisition by Vista Global and merger with JetSmarter.
It hasn’t turned out that way.
Weeks later came Connect, a new entry-level membership, priced at $2,995 designed to increase the addressable mark of customers who want to share flights to save costs.
The pay-as-you-go jet card membership club is moving towards “consolidation”
What’s next for Wheels Up? The company with its fleet of approximately 100 King Air 350i turboprops, Citation Excel/XLS midsize jets and Citation X super midsize aircraft is stirring some intrigue after its founder and CEO Kenny Dichter appeared yesterday morning on CNBC’s Squawk Box.
Wheels Up Super Bowl Play