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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flight blackout restrictions for most new members during their first 90 days back in November, today, Wheels Up rescinded those restrictions.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 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.
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.
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.