Wheels Up: from one King Air to Wall Street and beyond
Exactly 10 years ago, some of our team sat down in the Wynn Hotel, Las Vegas with Kenny Dichter to hear about his new latest venture. A new business aviation company called Wheels Up. The company’s entire fleet was parked at the NBAA-BACE 2013 static display. One King Air 350i.
Wearing a new Wheels Up baseball cap, he pledged that the company would become the biggest brand in business aviation. He arguably accomplished that before he stepped down as CEO and chair in May 2023.
A few months before Wheels Up joined the New York Stock Exchange, we published a long read looking at how Dichter wanted the company to be “the everything store of aviation”. Life as a public company has not gone the way Wheels Up hoped.
In this issue we look at how that has changed and why Delta Air Lines is still betting on the company. We have spoken to people who were in the room when the big decisions were made and have seen the documents that potential investors were pitched with. We are also looking forward to watching what happens next.
We always promise people, planes and passion.
For planes, our first look is with Airbus’ ACJ TwoTwenty. Finished by Comlux, it was delivered to FIVE, the Dubai hotel, earlier this year. The aircraft was at EBACE and will be in Las Vegas. During Covid, Dassault’s Falcon 6X became the first aircraft to have a virtual roll-out. Now it is ready for customers and Carlos Brana, executive vice president international sales, Dassault explains why now is an exciting time to be at the French manufacturer. Also five interiors specialists discuss the latest trends driving their business.
For passion – and this may surprise you – we recommend our business JetTech survey. The founders of the many companies we cover are all trying to improve your industry. They are all trying to solve problems to make the industry more efficient.
Obviously, people run throughout. But we were also very excited to have a famous TikTok star take on our new questionnaire.
If you have picked this up at NBAA-BACE in Las Vegas, we hope to see you in Miami next month. If you are reading this in Miami, we look forward to seeing you in London – or at our new São Paulo event.
As always thanks to everyone who supports the CJI dealmaker community, all our fantastic advertisers, sponsors, speakers, sources, delegates and readers. It is an honour to be part of your industry.
All the best.
LOUISA WHYTE, Publisher
Our next events
Corporate Jet Investor Miami 2023
November 6th to 8th Fontainebleau Miami Beach
Corporate Jet Investor London 2024
February 5th to 7th London Hilton on Park Lane
SAF Investor London 2024
February 27th to 28th
Corporate Jet Investor & Helicopter Investor
São Paulo 2024
March
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Contents
EVERY ISSUE
Life in eight questions: Steve Varsano – London-based jet broker Steve Varsano, founder of The Jet Business, mixes his long business days with an active social life.
AIRCRAFT
Picture This: eVTOLS at the Paris Olympics – Volocopter is planning an Olympic achievement with the launch of the world’s first public eVTOL services at the Paris games next year.
Picture This: Flexjet’s star HQ – The new $50m star-shaped Flexjet operations centre makes a statement.
First Look: Airbus ACJ TwoTwenty – Launch customer FIVE Hotels likes its big business jet so much, it’s reluctant to relinquish the aircraft for Airbus to exhibit at shows. Here’s why.
Jet Data: Including the new Cessna Citation Ascend – Our buyers’ guide to all the key metrics for leading business jets.
COVER STORY
Cover Story: Wheels on fire– No aviation business has attracted as much attention as Wheels Up this year. We probe how and why the restructuring happened. And we explain how the business is preparing for a profit-focused future.
UP FRONT
CJI Tech Map: Charting our digital future– Business aviation is digitising fast. Our guide to more than 150 software-based solutions available today helps you navigate the complex digital landscape of 21st century private aviation.
FEATURES
'We are a company of engineers': CJI interview – Dassault Aviation boss Carlos Brana credits the discipline and skills of engineering with helping the company thrive in the highly competitive world of business jet manufacturing.
Superior interiors: CJI surveys VVIP completions – Six leading VVIP completions firms share their experience of clients’ current interior design preferences. How do their customers balance personal requirements against enhancing charter appeal and maximising resale value?
Wright Brothers case: Lessons learned or spurned? – After the prosecution of Debbie Mercer-Erwin, owner of Wright Brothers Aircraft Title Inc., what lessons can business aviation learn? Knowing your customer would be a good start.
Remembering Hamish Harding: A life of adventure – Hamish Harding, the late chairman of Action Aviation, carved his mark as an accomplished business leader and explorer of air, land and sea. We recall his many adventures – as we reported them.
EVENTS
Report: CJI Dealmakers Club, EBACE 2023
Report: CJI Dubai 2023 – Welcomed about 230 visitors.
Report: CJI Asia 2023– Drew more than 300 delegates.
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Corporate Jet Investor Quarterly is a long-form print and digital magazine read by more than 23,000 dealmakers and decision-makers; people who buy, sell, operate, maintain, finance and advise on aircraft sales. We aim to always be insightful, international and independent – and occasionally we are a little irreverent. If you would like to be added to the distribution list please click here.
Our next events
Corporate Jet Investor
London 2023
February 6th to 8th
The Landmark London
Please email [email protected] to register or if you would like more information.
