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

  • 📰 CNBC
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 72%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Cool

I have 2 of those please!

Whei Bill Gates you need the other serial number ? Barack from the tail have you understand it ? Mister Hollywood boom wow. Caravan to saddam.

But muh climate change!

this is the guy behind silver squeeze!! Hedge funds with their dirty tricks have orchestrated a silver trap to get out of $GME!! Won't work !!! $GME to the moon!

amd gme boostthesignal Buy the dips if you're buying, this a marathon, don't buy all at once, a better price may come with the next dip. 10 is the dip. That's vague enough right? Also please 🙏 we need to knock silver off trending RETWEET !

you need the yellow stick again Bill ? come again and make you flexion.

On what earnings? On what PE?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines