Wheels Up Closes $109 million purchase of Air Partners

Acquisition of U.K.-based firm will allow private, member-based aircraft operator to expand internationally.

Michael Wildes

Tuesday, April 05, 2022 at 03:35 PM ET

Verified

Through the deal, Wheels Up will add 18 locations across four continents. [Courtesy: Wheels Up]

Key Takeaways:

Wheels Up has completed its $109 million all-cash acquisition of U.K.-based Air Partner, a global aviation services company.
The acquisition expands Wheels Up's international footprint by adding 18 locations across four continents and diversifies its service portfolio to include group charter, freight, and aviation safety and security.
Air Partner's leadership team will remain in place, with its brands eventually consolidating under Wheels Up while maintaining its U.K. headquarters to facilitate global expansion and international customer reach.

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Wheels Up (NYSE: UP), a private, member-based aircraft operator, has closed on its acquisition of Air Partner, a U.K.-based firm, after initially announcing the deal in February.

The all-cash deal, worth approximately $109 million, will allow Wheels Up to add 18 locations across four continents and group charter, freight, and safety and security services to the Wheels Up marketplace portfolio.