Wheels Up: Difference between revisions
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On Oct. 6, 2017, Wheels Up announced it had raised $117.5 million dollars in equity funding. The company said the new money will fund growth initiatives, including adding to its fleet of Beechcraft King Air 350i aircraft; accelerating membership growth through further investment in sales and marketing; continued exploration of and planning for an expansion into Western Europe and other markets; and significant enhancement of its digital platform.<ref>{{cite web|url=https://privatejetcardcomparisons.com/2017/10/06/wheels-up-raises-117-5-million-in-equity-capital-claims-billion-dollar-unicorn-valuation/|title=Wheels Up Raises $117.5 Million in Equity Capital; Claims Billion Dollar Unicorn Valuation|date=7 October 2017|publisher=}}</ref> |
On Oct. 6, 2017, Wheels Up announced it had raised $117.5 million dollars in equity funding. The company said the new money will fund growth initiatives, including adding to its fleet of Beechcraft King Air 350i aircraft; accelerating membership growth through further investment in sales and marketing; continued exploration of and planning for an expansion into Western Europe and other markets; and significant enhancement of its digital platform.<ref>{{cite web|url=https://privatejetcardcomparisons.com/2017/10/06/wheels-up-raises-117-5-million-in-equity-capital-claims-billion-dollar-unicorn-valuation/|title=Wheels Up Raises $117.5 Million in Equity Capital; Claims Billion Dollar Unicorn Valuation|date=7 October 2017|publisher=}}</ref> |
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In May 2018, Kenny Dichter said that Wheels Up will add up to seven Cessna Citation X jets to its fleet by the end of the year, with the first three flying by June. It will be its first aircraft capable of flying nonstop from coast to coast. In the same interview with Private Jet Card Comparisons, the CEO said an IPO is possible in the next 12 to 24 months. <ref> https://privatejetcardcomparisons.com/2018/05/21/wheels-up-confirms-possible-ipo-citation-x-pricing-imminent/ </ref> |
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==Safety controversy== |
==Safety controversy== |
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Revision as of 01:29, 24 May 2018
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| Company type | Privately held company |
|---|---|
| Industry | Private Aviation |
| Founded | 2013 |
| Founders | Kenny Dichter, Bill Allard |
| Headquarters | New York City , United States of America |
Area served | North America |
| Services | Membership based private aviation company |
| Website | https://wheelsup.com |
Wheels Up is a private aviation company that primarily serves members in the United States. The company was founded in 2013 by entrepreneurs Kenny Dichter and Bill Allard.[1] Wheels Up members are able to access a closed-fleet of private planes through a mobile application and book jets at a flat, all inclusive hourly rate.
On July 3, 2017, Dichter said Wheels Up received $90 million in debt financing from KKR that will support the acquisition of 17 King Air 350i to its fleet. He also said he expects the company of have a positive EBITDA by the end of 2017.[2]
On Oct. 6, 2017, Wheels Up announced it had raised $117.5 million dollars in equity funding. The company said the new money will fund growth initiatives, including adding to its fleet of Beechcraft King Air 350i aircraft; accelerating membership growth through further investment in sales and marketing; continued exploration of and planning for an expansion into Western Europe and other markets; and significant enhancement of its digital platform.[3]
In May 2018, Kenny Dichter said that Wheels Up will add up to seven Cessna Citation X jets to its fleet by the end of the year, with the first three flying by June. It will be its first aircraft capable of flying nonstop from coast to coast. In the same interview with Private Jet Card Comparisons, the CEO said an IPO is possible in the next 12 to 24 months. [4]
Safety controversy
In 2015, during a Wheels Up flight a door opened when the plane was mid-air. As was reported by media, the pilot told air traffic controllers "Emergency! Our door flew off the aircraft." As of 2015, the company was under FAA investigation due to the situation.[5][6][7]
Gama Aviation LLC is the operator of the Wheels Up King Air 350i and Cessna Citation program aircraft. They were selected after an extensive process that involved the assessment of several high quality operators based on their extensive experience and pervasive safety culture. They operate a mature Safety Management System, possess numerous third-party audit registrations that include the Air Charter Safety Foundation, ARGUS, Wyvern, and IS-BAO, and are designated as a “Global Industry Leader” per both U.S. and U.K. Aviation Authorities.[8]
References
- ^ "Wheels Up". wheelsup.com. Retrieved 2016-07-05.
- ^ "Wheels Up Secures $90 Million In New Financing From KKR; Expects To Be EBITDA Positive By End Of 2017". 3 July 2017.
- ^ "Wheels Up Raises $117.5 Million in Equity Capital; Claims Billion Dollar Unicorn Valuation". 7 October 2017.
- ^ https://privatejetcardcomparisons.com/2018/05/21/wheels-up-confirms-possible-ipo-citation-x-pricing-imminent/
- ^ "FAA probing luxe flight gone wrong". New York Post. 5 October 2015.
- ^ "AUDIO: Door Flies Off Private Plane Mid-Flight With Seven Aboard". New York Observer. 1 October 2015.
- ^ "The door on an 'Uber for flying' private jet flew open shortly after it took off from San Francisco". Business Insider.
- ^ "Wheels Up". wheelsup.com.