Delta Air Lines values Wheels Up at $890 million

Wheels Up Delta Air Lines

The airline’s Q3 SEC filing valued its 27% stake from combining Delta Private Jets into Wheels Up at $240 million

Delta’s stake in Wheels Up is now worth nearly twice its 9% in Air France-KLM, one of Europe three largest airline conglomerates

When Delta Air Lines announced the deal to combine its Delta Private Jets unit into Wheels Up in December 2019, and then it closed in January 2020, terms were not disclosed.

However, in the airline’s 10-Q filing for the quarter ended Sept. 30, 2020, a number of details were revealed for the first time.

NetJets, Wheels Up, Delta Private Jets, VistaJet capture Departures magazine’s Legends award

The magazine goes to American Express Centurion and Platinum cardmembers. All four private jet companies are repeat winners from last year’s inaugural contest

The editors of Departures magazine have released their picks for its Legends Awards.

In the private aviation category, the winners are NetJets, Wheels Up, Delta Private Jets, and VistaJet.

Wheels Up buys Gama Aviation Signature growing its fleet to over 300 private aircraft

Wheels Up awards

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.

Former Delta Air Lines exec named Chief Experience Officer of Wheels Up

Wheels Up Gail Grimmett

Gail Grimmett, a former senior executive with Delta Air Lines, has been appointed Chief Experience Officer at Wheels Up

A longtime executive at Delta Air Lines who is widely credited with turning the Atlanta-based company into a dominant player in New York’s ultra-competitive marketplace has been named chief experience officer at Wheels Up.

Surf Air buys online private aviation marketplace BlackBird Air; Creates Surf Air Mobility Corporation

Surf Air raises $200 million

The new entity wants to ‘transform’ the 50-to-400-mile mobility market

50% of all flights are under 500 miles, it says

BlackBird was recently under FAA scrutiny

Surf Air has been trying to fly past liquidation of its European arm, a lawsuit with a former operator and IRS tax lien

Plans call for phasing out the BlackBird Air name

Los Angeles-based Surf Air said it has acquired BlackBird Air, an online aviation marketplace that has been under scrutiny from the Federal Aviation Authority.

Wheels Up, Delta Air Lines close on the acquisition of Delta Private Jets

Wheels up

Wheels Up members will be able to attain Delta Air Lines’ elite status

Delta Private Jets members get a complimentary Wheels Up membership valued at $17,500

The deal to merge Delta Private Jets (DPJ) with Wheels Up is sealed. The closing officially combines DPJ with Wheels Up.

The combination creates one of the world’s largest owned and managed fleets of private aircraft, around 190 airplanes from the King Air 350i to large-cabin jets.

Wheels Up’s Dichter named Entrepreneur of the Year Award

Kenny Dichter awards

The award takes place tonight at the 17th Annual Living Legends of Aviation Awards

Kenny Dichter, founder and CEO of Wheels Up, is set to receive the Eren Ozmen Entrepreneur of the Year Award at the 17th Annual Living Legends of Aviation Awards tonight at the Beverly Hilton Hotel in Los Angeles. 

The star-studded event, hosted by actor and aviation enthusiast John Travolta, honors those who have made significant contributions to aviation and aerospace.

Dichter joins other notable awardees from the group. They include Elon Musk, Jeff Bezos, Herb Kelleher, Sir Richard Branson, Kenn Ricci, David Neeleman, Thomas Flohr, and HH Sheik Al Maktoum among others.

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