The companies have reached a definitive agreement for Delta Private Jets, a wholly owned subsidiary of Delta, to combine with Wheels Up. The transaction will pair Wheels Up’s membership programs, digital platform and lifestyle experiences with Delta Private Jets’ service and scale. When the transaction closes, Wheels Up will have a fleet of more than 190 private aircraft and over 8,000 members and customers. Delta will also hold an equity position in Wheels Up.
The transaction will provide an array of new products and features for existing and prospective customers of Wheels Up, Delta Private Jets and Delta. Details will be announced when the transaction closes, the airline said.
Wheels Up founder and CEO Kenny Dichter will continue in his role leading the Wheels Up senior management team as it builds its partnership with Delta. Additionally, Wheels Up is said it is committed to providing ongoing career opportunities for Delta Private Jets employees.
The transaction is expected to close early next year, and in the interim, Delta Private Jets and Wheels Up will continue to serve and communicate with their existing employees, customers, members, partners and vendors in the same manner in which they do today.
The transaction is subject to customary closing conditions and required governmental and regulatory approvals. Financial terms of the transaction will not be disclosed.