Wheels Up’s move to drop new-member flight restrictions imposed in November may signal that its efforts to create more supply are working
After imposing flight blackout restrictions for most new members during their first 90 days back in November, today, Wheels Up rescinded those restrictions. New Core members depositing $400,000 had been exempted.
Wheels Up ended 2020 with 10,995 active members and $690 million in revenues. It’s forecast to reach $912 million this year
– Will Wheels Up be the first private jet company with its own co-branded credit card?
– The private aviation company sees a future for the Wheels Up brand in luxury lodging, yachts, and experiences to credit cards and financial services
Wheels Up is going public via a SPAC. It’s provides a rare look into the world of private jet companies, which are either privately held or subsidiaries of large publicly traded companies, with limited public data.
Wheels Up CEO Kenny Dichter says he expects the private aviation provider to hit $1 billion in revenues in 2021 as he eyes future expansion into other luxury goods and services
After acquiring three of the nine largest Part 135 operators and tech platform Avianis, Wheels Up has seen flight activity rebound to pre-COVID-19 levels and is readying for the next chapter to take it beyond aviation, CEO and founder Kenny Dichter told attendees at Corporate Jet Investor Americas 2020 today.
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.