Wheels Up Secures $90 Million In New Financing From KKR; Expects To Be EBITDA Positive By End Of 2017

The private jet and turboprop provider says its jet card membership program is reaching a wider audience

 

Private aviation membership provider Wheels Up has added KKR to its roster of investors, securing $90 million in debt financing as part of its plan to grow to 75 King Air 350is. It also operates the Citation XL/XLS. CEO and Founder Kenny Dichter broke the news this morning on CNBC’s Squawk Box. He said the deal closed this past Friday. There was no information on the investment posted on either of the company’s websites. Other investors include Fidelity and T. Rowe Price. The company was launched in 2013.

PGA Golfers And The U.S. Open Shows Why Private Jet Cards And Jet Membership Makes Sense

Private jet companies and golf go together like hot dogs on July 4th. NetJets boasts over 35 professional golfers on its roster of players it sponsors. There is even an unofficial Twitter account @NetJetsGolfTeam

A Beginner’s Guide To Flying By Private Jet

The rich are getting richer. Commercial airline service is getting worse as is the airport experience. Luckily, there are more ways to fly via private aviation where you don’t have to be worth $50 or $100 million and more.

Private Jet Card Comparisons Now Covers Over 100 Private Jet Membership Programs

Private Jet Card Comparisons now includes 25 different companies and over 100 programs covered in our 65-point analysis. Private Jet Card Comparisons is the only independent buyer’s guide to private jet card membership programs that enables readers to compare the programs head-to-head with easy to use spreadsheets. It is also updated so all information includes 2017 private jet card membership programs. 

Wheels Up Founder Kenny Dichter Talks About Why You Should Join Wheels Up

In Private Jet Card Comparisons’ ongoing Elevator Pitch series, private aviation innovator Kenny Dichter gives a 300-word sales pitch on why you should consider Wheels Up. Dichter was a co-founder of Marquis Jet Partners in 2001 helping popularize the jet card concept. After selling Marquis Jet to NetJets, he launched Wheels Up on the back of the King Air 350i, a plane he calls the Land Rover of private aviation. You can read Dichter’s message here.

Private Jet Card Comparisons Adds Executive Overview For Wheels Up

As part of the Private Jet Card Comparisons extensive 65-point comparison of the Wheels Up private jet card programs, the website has published an executive summary on the Wheels Up corporate page. 

The Most Searched Private Jet Card Providers

NetJets and its Marquis Jet Card is the most searched private jet card provider, according to PrivateJetCardComparisons.com one-week after the website’s pre-launch. Founder and Editor-in-Chief Doug Gollan said NetJets was followed by Air Partner, Wheels Up, Delta Private Jet and Flexjet rounding out the five company pages readers visited most often.

“When we created Private Jet Card Comparisons we saw a need in the market. Only 3% of jet card buyers use a consultant, and there was no other independent guide that offered comprehensive head-to-head comparisons in an easy-to-use spreadsheet format,” said Gollan. “Most of the time selecting a jet card or prepaid charter program came down to the recommendation of a friend, a previous experience or having an assistant do a Google search looking for a couple companies.”