This website uses cookies
More information
Site Filter — Worldwide / All Aircraft
Wheels Up makes a move to merge with Aspirational
The Wheels Up/Aspirational transaction is expected to deliver up to $790 million of gross proceeds to the combined company, including the contribution of up to $240 million of cash in Aspirational's trust account.
Wheels Up is on a mission to democratise the private aviation industry.
Read this story in our February 2021 printed issue.

Wheels Up Partners Holdings has entered into a definitive agreement to become publicly-traded via a merger with investment firm Aspirational Consumer Lifestyle, in a transaction that puts Wheels Up at an enterprise value of US$2.1 billion. The move will make Wheels Up the first private aviation platform to be listed on the New York Stock Exchange.

Wheels Up was founded in 2013 by Kenny Dichter, who says he has pioneered the next evolution of private aviation, starting with a membership model and an exclusive fleet of King Air 350i aircraft. In the seven years since it was founded, Wheels Up has become a trusted market leader. Several strategic acquisitions and an exclusive co-marketing partnership with Delta Air Lines have expanded Wheels Up's operational and technological footprint.

The company's current management team will continue to lead Wheels Up. Aspirational's chairman and chief executive officer Ravi Thakran, former group chairman of LVMH south and southeast Asia and Australia/New Zealand and former managing partner of L Catterton Asia, will join the combined company's board of directors upon completion of the transaction.

Dichter says: “We are excited about crossing this milestone and our new partnership with Aspirational. We believe this will allow us to actualise our founding goal of democratising private aviation through our unique membership model, suite of products and benefits, and by bringing the shared economy to private aviation through our Wheels Up app. We are looking forward to joining forces with the Aspirational team as we continue to accelerate our global growth and expansion.”

Thakran adds: “When we founded Aspirational, Wheels Up was exactly the kind of company we wanted to partner with. Kenny and his world-class team have created a truly iconic brand built upon years of exceptional, personalised customer experiences. It is a clear leader and innovator in the space, and we look forward to working together to introduce Wheels Up to the global stage. We see many opportunities to leverage our experience and relationships to partner with other aspirational and luxury brands and to expand to international markets.”

Other News
Wheels Up continues an inspired partnership
May 10, 2021
All Wheels Up Core, Connect and Business members have access to a complimentary trial Inspirato Club subscription for up to 12 months, additional Inspirato Pass subscription offers and access to Hot Nights.
Wheels Up views Amperity technology as a good fit
May 3, 2021
Wheels Up keeps on turning with Waldorf deal
March 25, 2021
Apollo Jets comes under the wing of Vista Global
March 6, 2021
FlyJets looks to revolutionise the empty leg arena
January 28, 2021
FXAir aims to build on last year's momentum
January 12, 2021