Private jet company Wheels Up to go public in a $2 billion SPAC deal that could help it unlock new markets

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Private jet company Wheels Up to go public in a $2 billion SPAC deal that could aid it in unlocking new markets

last year, will also remain a shareholder when the deal is completed.

The deal marks a validation for Dichter, a high-octane entrepreneur who started selling T-shirts to fellow students at the University of Wisconsin and went on to create Marquis Jets, which was later sold to NetJets. Starting in 2013 with a membership model and fleet of King Air turboprops, Dichter aimed to topple the aviation industry from its elitist and inaccessible perch to serve a broader mass-affluent market.

In merging with Aspirational, Wheels Up gains a partner in luxury marketing and expansion overseas, especially in the fast-growing Asian markets. The question for Wheels Up is whether it can produce earnings growth for Wall Street shareholders while also growing market share in an industry with a history of slim profit margins and excess capacity. The core challenge for the private jet business is large fleets and sporadic demand that results in most private jets flying empty or with only one or two passengers.

 

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Cool

I have 2 of those please!

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On what earnings? On what PE?

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