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.
The deal, which is being announced this morning, and closed Friday, adds 26 light jets to the Wheel Up fleet
Wheels Up announced this morning that it has closed a deal to acquire Elkhart, Indiana-based Travel Management Company (TMC), a significant fleet operator of owned and leased light jets serving the on-demand charter market. The deal will increase the current Wheels Up fleet to 119 owned and leased aircraft. Terms of the deal were not disclosed.
For Wheels Up founder Kenny Dichter, who helped popularize jet cards by launching Marquis Jet Partners in 2001 before selling it to NetJets in 2010, the move comes after he announced in January he had hired Goldman Sachs and Bank of America to provide advice on strategic options.
The four most searched private aviation companies on Google are very different, although they also have some similarities
In the world of private aviation solutions – fractional ownership, leases, jet cards, memberships, seat sharing, semiprivate airlines, and so forth, four companies have generated the most interest, according to Google Trends. Surprisingly, perhaps, they are each quite different once you get past the fact that they all want to fly you somewhere.
After bringing turboprops mainstream by championing the King
Air 350i, Wheels Up is now filling out its product offerings
There are probably few privately held companies that get as
much airtime on the business cable networks as Kenny Dichter and Wheels Up, his
entry second entry into the world of jet cards. His debut in 2001 was an
exclusive agreement with NetJets to sell jet cards onto its fractionally owned
fleet. Instead of having to buy at least 50 hours per year with a five-year
commitment, Marquis Jet Partners offered the opportunity to buy in 25 hours at
The pay-as-you-go membership program is broadening its customer base with its new $2,995 Connect Membership while launching a light jet program, anchored by the Citation Encore+, with a fixed hourly rate.
Wheels Up is no longer a two-trick pony. After five years making its mark principally on the back of King Air 350i with the help of the midsize Cessna Citation Excel/XLS, the New York-based privation aviation membership company is taking two big steps today. First, it is moving to fulfill founder and CEO Kenny Dichter’s vision of democratizing private travel even further with its new Connect Membership, which is focused on the concept of sharing flights, booking charter and accessing signature events.