Wheels Up to go public via a merger with LVMH-backed SPAC

Wheels Up SPAC

The transaction values Wheels Up at an enterprise value of $2.1 billion and is expected to provide up to $790 million in cash proceeds when it closes in Q2

SPAC CEO Shakran sees “[M]any opportunities to leverage our experience and relationships to partner (Wheels Up) with other aspirational and luxury brands and to expand to international markets”

Following its acquisition spree, Wheels Up has the world’s second-largest for-hire fleet of private aircraft, behind only NetJets

Sometimes rumors do come true. As Reuters reported last week, Wheels Up Partners Holdings LLC this morning said it has entered into a definitive agreement to become publicly-traded via a merger with special purpose acquisition company, Aspirational Consumer Lifestyle Corp. (“Aspirational”) (NYSE: ASPL).

Brady vs. Mahomes pairs Wheels Up against Airshare

Wheels Up ambassador Tom Brady will try for his 7th Super Bowl title while Patrick Mahomes, who fronts for Airshare, will go for back-to-back Vince Lombardi Trophies

Two NFL greats will meet on Feb. 7 in Super Bowl LV in Tampa Bay as the hometown Buccaneers host the Kansas City Chiefs. Bucs quarterback Tom Brady is an ambassador for Wheels Up in private aviation, while Patrick Mahomes fronts for Airshare.

Wheels Up’s Firestone establishes aviation scholarship

Justin Firestone Wheels Up

Co-founder of Wheels Up Justin Firestone has launched a scholarship at Arizona State University

Justin Firestone, a co-founder of Wheels Up, has established a scholarship at Arizona State University.

The Justin and Natalie Firestone Scholarship for Entrepreneurship in Aviation is designed to encourage students to pursue aviation careers.

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