Airshare Quadruples Fleet in Deal for Wheels Up Private Management Business

The private aviation services provider, which counts NFL star quarterback Patrick Mahomes as a customer, snapped up 90 aircraft and 300 personnel from its rival.

Jack Daleo

Monday, October 02, 2023 at 05:12 PM ET

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An Airshare branded Bombardier Challenger 3500, which the company offers for its fractional ownership services. [Courtesy: Airshare]

Key Takeaways:

Airshare acquired Wheels Up's private aircraft management business, a move that significantly expands its operational capacity and market reach.
The acquisition more than quadruples Airshare's managed fleet by adding 90 aircraft and doubles its headcount, providing a coast-to-coast presence for future national expansion of its private aviation services.
Wheels Up divested its private management business following a period of financial difficulties, which included a $500 million bailout largely led by Delta Air Lines, resulting in Delta owning 95% of the company.

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The company providing fractional aircraft ownership services for customers such as Kansas City Chiefs quarterback Patrick Mahomes—a two-time NFL Most Valuable Player—Chiefs head coach Andy Reid, and retired professional golfer Tom Watson, a PGA Tour legend, just grew its fleet exponentially.

Over the weekend, Mahomes-endorsed Airshare closed a deal to acquire rival Wheels Up’s private aircraft management business. The move more than quadruples Airshare’s own managed fleet—comprising Cessna Citations, Bombardier Globals, Embraer Legacies and Praetors, and other models—with the addition of 90 airframes.