Thursday, 27 January 2022

Wheels Up Announces Agreement to Acquire Air Partner

Proposed Acquisition Accelerates Wheels Up's International Expansion and Positions the Company as the Leading Private Aviation Brand

Provides Connections to International Aircraft Supply as Global Demand Accelerates

Air Partner's Diversified Platform Expands Wheels Up Suite of Services and Business Offerings into Group Charter, Freight, Specialist Services, Safety, Security, Emergency Planning and Incident Response, and Managed Services 

Wheels Up Experience the leading brand in private aviation has announced it has reached an agreement to acquire Air Partner PLC, the U.K.-based global aviation services group with operations in 18 locations and across four continents. 

The news came as a massive shock to some staff at Gatwick HQ who had no idea the firm was up for sale and fear a raft of redundancies will soon be announced. According to the latest information Wheels Up will buy all the share capital of Air Partner for 125 pence per share, valuing the firm at $107 million.  

"Today's announcement marks an important new chapter for Wheels Up as we systematically build the leading global, private aviation company that creates unparalleled value for our customers and shareholders," said Wheels Up Chairman and CEO Kenny Dichter. "This acquisition will allow us to offer existing and future customers even more compelling and seamless options for private travel, expand the reach of our marketplace in key markets around the world, and add important operational capabilities to our network. Air Partner has tremendous heritage, leadership expertise and unique capabilities that will allow us to accelerate our global strategy and credibly expand our offerings in a meaningful way. We look forward to sharing more details on the transaction and our go-to-market plans after the deal formally closes."

Founded in 1961, Air Partner rapidly became a global aviation services company providing private jet, group and freight charter and aviation safety & security solutions to industry, commerce, governments and private individuals, across civil and military organizations. The UK firm was the supplier of choice for many top concierge companies including American Express Centurion Card, who are, we're told watching the take over developments with interest. 

"This proposed acquisition has a compelling strategic rationale, bringing together two businesses with complementary offerings and values for the benefit of their customers. I am extremely proud of Air Partner, we have built a fantastic team and a highly attractive business and Wheels Up's offer is a clear acknowledgement of this," said Air Partner CEO Mark Briffa.



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