New program designed for businesses that spend at least $250,000 in private travel services and recognize the value of business aviation as a tool to enhance efficiency and productivity
Up for Business expected to deliver greater fleet utilization during weekdays, when individual and leisure travel demand is historically low
NEW YORK, Oct. 31, 2023 /PRNewswire/ -- Wheels Up Experience (NYSE: UP), a leading on-demand charter operator in the United States, today announced a new corporate program, Up for Business, to better serve its small and medium-sized enterprise members with a tailored private aviation solution that features industry-leading pricing, discounts, and benefits designed specifically for this size business and their executives.
The new program supplements the company's portfolio of products designed specifically for corporate travel. Wheels Up's significant network density along the east and west coasts and differentiated corporate flight solutions are anticipated to complement the flying habits of most corporate travelers. Up for Business is available starting November 1.
"Wheels Up corporate members now have the ability to choose a solution that fits their flight profile and business needs," said Robert Bourrier, EVP, Global Sales. "Historically, smaller to medium-size businesses were forced to adapt to either a product that was designed for individuals or a solution that was built for large corporations. We see an opportunity to deliver a tailored product to members rather than a one-size-fits all offering, while capturing the operational and financial benefits of a balanced fleet utilization throughout the week."
"By adding a sensible layer for businesses that falls within the small and medium-sized tier, we are able to offer superior pricing, better service and benefits. We expect this new product to improve the efficiency and profitability of our operations with a more balanced utilization of our fleet throughout the week – all while keeping the member firmly at the center of everything we do."
Supported by a dedicated corporate sales team, Wheels Up will now offer two programs for corporate fliers – Up for Business for small and medium-sized companies with either a $250,000 or $300,000+ deposit, and the existing business membership for larger businesses/high volume fliers focused on Custom Enterprise Solutions with either a $500,000 or $1 million+ deposit.
The new Up for Business program will offer a significantly reduced deposit, initiation fee, annual dues and contract term of 18-months, a new round trip discount and unlimited lead passenger designees. Up for Business members will also benefit from having access to a second aircraft on the same day once per quarter.
Wheels Up continues to offer enhanced, unique-to-the-industry, benefits to all members through our long-standing partner and investor, Delta Air Lines, the No. 1 premium airline in the world. Up for Business members at $250,000 deposit will receive one Diamond Medallion designee and members depositing $300,000 will receive two of the highly coveted SkyMiles status. Further, all members will continue to have the ability to use funds on deposit for both private travel with Wheels Up and commercial trips on Delta flights.
"Wheels Up is an integral part of Delta's portfolio of premium, corporate flight solutions providing unique benefits to our respective and joint customers.," said Bob Somers, SVP, Global Sales, Delta Air Lines. "The Up for Business customer is an important segment within the total addressable market for business travel. We look forward to working closely with the Wheels Up team to provide unparalleled service as leaders in commercial and private aviation."
About Wheels Up
Wheels Up is a leading provider of on-demand private aviation in the U.S. and one of the largest private aviation companies in the world. Wheels Up offers a complete global aviation solution with a large, modern, and diverse fleet, backed by an uncompromising commitment to safety and service. Customers can access membership programs, charter and whole aircraft sales, as well as unique commercial travel benefits through a strategic partnership with Delta Air Lines. Wheels Up also offers freight, safety and security solutions and managed services to individuals, industry, government, and civil organizations.
Wheels Up is guided by the mission to connect private flyers to aircraft, and one another, through an open platform that seamlessly enables life's most important experiences. Powered by a global private aviation marketplace connecting its base of approximately 12,000 members and customers to a network of approximately 1,500 safety-vetted and verified private aircraft, Wheels Up is widening the aperture of private travel for millions of consumers globally. With the Wheels Up mobile app and website, members and customers have the digital convenience to search, book and fly.
To learn more about Wheels Up, go to Wheelsup.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of the control of Wheels Up. The words "anticipate," "continue," "could," "expect," "plan," "potential," "should," "would" and similar expressions, including references to future efficiencies or profitability, may identify forward-looking statements, but the absence of these words does not mean that statement is not forward-looking. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in Wheels Up's filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, Wheels Up does not intend to update any of these forward-looking statements made in this press release.
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