What is Wheels Up?
Founded in 2013 and headquartered in New York City, Wheels Up has established itself as a leading provider of on-demand private aviation in the U.S., ranking among the world's largest private aviation companies. The company offers a comprehensive global aviation solution, featuring a large, modern, and diverse fleet. Wheels Up places an uncompromising emphasis on safety and service, aiming to deliver a superior private flying experience. Its operational model is designed to cater to a wide range of client needs, from individual travelers to corporate entities seeking efficient and reliable air transport.
How much funding has Wheels Up raised?
Wheels Up has raised a total of $1.8B across 12 funding rounds:
Private Equity
$96.6M
Private Equity
$115M
Debt
$120.8M
Private Equity
$3M
Private Equity
$117.5M
Other Financing Round
$128M
Debt
$500M
Debt
$40M
Debt
$332M
Debt
$165M
Debt
$165M
Private Equity (2015): $96.6M, investors not publicly disclosed
Private Equity (2015): $115M supported by T. Rowe Price, Fidelity, and Rosecliff Capital Advisors
Debt (2016): $120.8M, investors not publicly disclosed
Private Equity (2016): $3M, investors not publicly disclosed
Private Equity (2017): $117.5M with participation from New Enterprise Associates
Other Financing Round (2019): $128M led by T. Rowe Price, Fidelity Management & Research, and Franklin Templeton
Debt (2023): $500M supported by Certares Management, Knighthead Capital Management, and Delta Air Lines
Debt (2023): $40M featuring Kore Capital
Debt (2024): $332M backed by Delta Air Lines and Bank of America
Debt (2026): $165M with participation from Delta Air Lines and AIP Capital
Debt (2026): $165M led by AIP Capital and Delta Air Lines
Key Investors in Wheels Up
Delta Air Lines
Delta Air Lines is a U.S. global airline leader recognized for safety, innovation, and customer experience, aiming to connect people and cultures globally and serve as a force for social good.
Certares Management
Certares focuses on direct investments in proprietary transactions within the travel and hospitality industries, partnering with management teams to drive growth and managing approximately $8 billion of assets.
Knighthead Capital Management
Knighthead Capital Management, LLC is an investment management firm employing various strategies to optimize client returns, serving institutional investors and high-net-worth individuals with tailored investment solutions.
What's next for Wheels Up?
The substantial enterprise-level funding and strategic investments indicate a phase of aggressive expansion and operational enhancement for Wheels Up. This capital infusion is likely to be directed towards fleet modernization, technological advancements in booking and management systems, and potentially expanding its service network. The company's focus on safety and service, coupled with its robust financial backing, positions it to further solidify its market leadership and explore new avenues for growth in the evolving landscape of private aviation.
See full Wheels Up company page
