Delta Air Lines subsidiary Delta Private Jets is taking an equity investment in private aviation company Wheels Up, the airline announced Thursday.
The transaction will pair Wheels Up's membership programs, innovative digital platform and world-class lifestyle experiences with Delta Private Jets' renowned reliability, safety, service and scale.
When the deal closes, Wheels Up will have a fleet of more than 190 private aircraft and over 8,000 members and customers, creating one of the world's largest owned and managed fleets of private aircraft, Delta said in a release.
"This groundbreaking partnership will democratize private aviation - making the convenience of private jet travel accessible to more consumers," Delta CEO Ed Bastian said in a statement.
"Wheels Up's lifestyle experiences and innovative digital platform, combined with the scale and service of Delta Private Jets, helps further Delta's mission of connecting people and communities worldwide through travel. This agreement is the latest step in Delta's ongoing effort to build partnerships that extend Delta's brand beyond its core business."
Said Wheels Up Founder and CEO Kenny Dichter: "Bringing together our complementary businesses, which represent the best consumer brands in private and commercial aviation, is transformative and a first for the industry. The combination of Wheels Up and Delta Private Jets, along with the partnership commitments between Delta and Wheels Up, aligns with our growth objectives and vision of building a platform that will make private flying and the private flying lifestyle accessible to significantly more individuals and businesses in the U.S. and around the world."
The transaction is expected to close early next year.
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