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Wheels Up is a New York-based provider of private aviation services and the world’s largest operator of Beechcraft King Air 350 turboprops.
It offers several membership options and offers capped hourly rates with guaranteed availability.
Wheels Up is the latest of the largest providers selling fixed or capped rate jet cards to make program changes.
If it’s Thursday, Wheels Up must be announcing a new partnership. Or we should say Wheels Up Experience, the new official name for the publicly traded private aviation provider.
Wheels Up provided a private flight yesterday for two families of fallen heroes to Washington, DC for Memorial Day Weekend in partnership with TAPS, a nonprofit that provides comfort and resources to those grieving the death of a military loved one. It’s part of the private jet provider’s extensive philanthropic efforts.
Ready or not, Kenny Dichter and Wheels Up plan to change the face of private jet access. It’s a big leap from marketing ploys like selling memberships through Costco. Beyond stump speeches at industry conferences, there will be the harsh spotlight from being a publicly traded company. If he’s successful, the lifelong entrepreneur will find his name alongside aviation innovators such as Pan Am founder Juan Trippe, former American Airlines chairman Robert Crandall, who ignited revenue management and frequent flyer programs, and inventor of fractional private jet ownership, Richard Santulli. The latter created NetJets, the world’s largest private jet operator, and gave Dichter his entree into the industry. In fact, Dichter might fly higher than all of them. Success would make Dichter the Jeff Bezos of private jets.
In a two-hour presentation to financial analysts Friday morning, the founder and CEO of Wheels Up, along with his leadership team, discussed various milestones, projected growth, and insights on where it’s coming from. More than that, they unveiled a dramatic vision for a private aviation marketplace they say could more than double the addressable market by 2025, democratizing the segment down to low single-digit millionaires. It will certainly be key in their plan to grow revenues from $695 million last year to over $2.1 billion by 2025.