Wheels Up divests non-core businesses for $20m
Atlanta-based private aviation services provider Wheels Up said it has sold three non-core services businesses including Baines Simmons, Kenyon International Emergency Services and Redline Assured Security to London-based TrustFlight for $20m.
The three businesses were a part of Wheels Up’s $110m acquisition of Air Partner in 2022.
Wheels Up plans to use these funds to support its ongoing fleet modernisation strategy and general corporate purposes.
“The divestiture of these non-core services businesses is the latest in a series of steps that Wheels Up has taken to sharpen our strategic focus; invest in our product, fleet and operations; and strengthen our balance sheet,” said George Mattson, CEO, Wheels Up.
Baines Simmons, a key partner of the Isle of Man Aircraft Registry, offers safety performance services to businesses, armed forces, governments and regulators across all sectors of aviation.
“Safety in aviation is a lifecycle, not a point solution or set of vendors,” said Karl Steeves, CEO of TrustFlight.
He added that the acquisitions will position TrustFlight as the industry’s only integrated partner combining training and regulatory expertise, aviation security and quality assurance, and full-spectrum critical-incident support services within one group.
“By bringing together the strengths of these three companies with TrustFlight’s software and data platform, we’re building an operating system for safety that helps anticipate risks earlier, prove compliance continuously, and recover faster when events occur. We’re excited about the capabilities these companies bring to TrustFlight,” Steeves added.
Kenyon International Emergency Services offers planning and response services to crisis incidents while Redline Assured Security’s scope of services includes training, quality assurance, consulting and software solutions to help businesses comply with national and international legislation.
Wheels Up posted revenue of $367m in the first half of 2025 with total gross bookings going up 3%YoY to $503.8m as private jet gross bookings per live flight leg improved to $18,089 from $16,604 last year. Losses from operations improved 14% to $104m with net loss clocking in at $181.6m.
