Wheels Up announces FET-free flight fund options for members

Wheels Up ATO Tax Free Fund

The second-largest for-hire private jet operator, Wheels Up, is the latest to offer members the ability to deposit funds before the end of the year and use them for tax-free flights, in this case, for up to 24 months

Wheels Up is offering members its existing funds program, a new Air Transportation Only fund option that will offer FET-free flying for 24 months after purchase, or the ability to fund both types

The biggest player in jet cards yet to weigh in on how it will address the CARES Act holiday on the 7.5% Federal Excise Tax will announce later today it’s in.

Delta Air Lines values Wheels Up at $890 million

Wheels Up Delta Air Lines

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.

Wheels Up waives membership fees for JetSuite jet card customers

Wheels Up Meals Up

SuiteKey members save the normal $17,500 joining and membership fee

Wheels Up is offering customers of now grounded JetSuite the ability to fly in its membership program waiving the $17,500 joining and initiation fees.

Wheels Up targets 10 million meals in COVID-19 Coronavirus relief effort

Wheels Up

Private jet operator, management and membership brand Wheels Up is joining with NFL all-star Russell Wilson to support Feeding America’s COVID-19 Response Plan

The number of Americans who need food assistance is expected to double to 75 million as COVID-19 Coronavirus layoffs ripple across the economy

Wheels Up Founder and CEO Kenny Dichter was on CNBC’s Squawk Box this morning, but not to announce another acquisition. On the business channel, he joined with Seattle Seahawks quarterback Russell Wilson in a Coronavirus relief effort.

Wheels Up buys Gama Aviation Signature growing its fleet to over 300 private aircraft

Wheels Up buys Gama Signature Aviation

The acquisition follows the purchase of Delta Private Jets, Travel Management Company, and Avianis, and squares it up against NetJets

Wheels Up is looking to move closer to NetJets and pull away from Directional Aviation and Vista Global Holdings. Its acquisition of Gama Aviation LLC this morning gives it over 300 owned and managed aircraft.

Gama Aviation Signature, as it is known, already was managing the Wheels Up fleet of King Air 350i, Citation Excel/XLS, and Citation X aircraft.

It follows its acquisitions of Travel Management Company last June and Delta Private Jets, completed in January.

NetJets compared to Wheels Up 2019

NetJets pricing

The two most searched private aviation companies are surprisingly different

Each month there are over 50,000 unique online searches for both NetJets and Wheels Up. While each play in the consumer solutions sector of the private aviation space, their differences underline something that is often surprising to many, and that is there are significant differences between the various providers.

Breaking News: You Can Now Buy Private Jet Cards On Amazon

Air Partner and Quintessentially Travel partner for luxury private jet vacations to Europe and Brazil

ECOJETS claims to be the first company to sell private jet card membership programs via the online retailer

 

You can now buy jet cards for up to $100,000 in private jet travel via the mega-retailer Amazon. ECOJETS, which this summer launched a new travel program giving members discounts via credits to a debit card they can use for anything they want, from luxury shopping to hotel stays and event tickets, is now selling through Jeff Bezos’ everything store. The private jet provider has not made any announcements about the new sales channel, but it is live online and Private Jet Card Comparisons understands a press release may come later this week during the National Business Aviation Association (NBAA) convention that starts today in Las Vegas. 

%d bloggers like this: