In advance of its public listing on the New York Stock Exchange, the company presented analysts its lofty ambitions to revolutionize private jet access
Wheels Up founder Kenny Dichter believes the addressable market for private aviation can grow from its current $31 billion to $80 billion by 2025. It plans to be a key driver. Here’s how…
A detailed overview of each presentation during Wheels Up’s Analyst Day
“So if you’re tired of the same old story…turn some pages.” – REO Speedwagon
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.
Wheels Up recently opened its private jet charter app to non-members. Here’s our review
Move over Costco. When I read in Wheels Up’s merger filings that it quietly began allowing non-members to access its app, I decided to check it out. Until then, you had to pay $2,950 for the privilege. Allowing non-members to book on the app at less favorable terms seems a no-brainer.
Kansas basketball coach is receiving $240,000 in Wheels Up flight credits annually as part of a new contract the college basketball coach just signed
Wheels Up may soon have a new ambassador in the form of super successful head basketball coach Bill Self. The University of Kansas disclosed that Self gets $240,000 in annual flight credits as part of his new lifetime contract to coach the team.