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Wheels Up has acquired Mountain Aviation, the largest Part 135-operated Citation X fleet in the US , with bases in Denver, Teterboro, and Southern California.
Wheels Up said Mountain Aviation’s charter operations and super-mid fleet are the “perfect compliment” to Wheels Up’s previous acquisition of floating fleet expert, Travel Management Company. Wheels Up will add 59 aircraft, most of which are Citation X aircraft and plans to further expand the Citation X fleet in 2021.
Also, the addition of Mountain Aviation’s full Part 145 maintenance capabilities will aid the build up of Wheels Up’s in-house maintenance operation. Wheels Up will offer managed aircraft services to Mountain Aviation’s existing managed customers as part of its management platform.
Kenny Dichter, Wheels Up founder and CEO, welcomed the Mountain Aviation team. “We are aligned on culture, forward vision, and business goals. This acquisition further strengthens the Wheels Up suite of products and services that we offer to our members and customers and enhances our unique total aviation solution positioning.”
Gregg Fahrenbruch, Mountain Aviation, CEO, added: “This is an exciting day for all of us at Mountain Aviation. We are proud of what we’ve built and thrilled to join Kenny and the Wheels Up team to continue to expand and grow. It’s remarkable to see how Wheels Up, with their vision to democratise, digitise, and disrupt, is transforming the industry.”
The deal, which was exclusively advised by financial advisors, Jefferies, will see Mountain Aviation’s wholesale business continue to operate independently with no interruption of service to their existing wholesale partners.
Fahrenbruch will take on the new title of Senior Vice President, Operations Strategy and will continue to run the Mountain Aviation business together with the Mountain Aviation leadership team.
Whilst Mountain Aviation’s team of near 300 employees will continue to operate out of its current locations in Broomfield, Colorado and its additional locations in Colorado, Teterboro, New Jersey, Anchorage, Alaska and Thermal, California.
Specific financial terms of the deal were not disclosed.