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Wheels Up revenue surges 68% amid robust demand for private jet travel

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Wheels Up is a new airline travel company co-founded by Bill Allard who stands in front of a new Beechcraft 350i King Air turbojet plane with only 30 hours on it.

John Tlumacki | The Boston Globe | Getty Images

Private jet company Wheels Up reported a 68% jump in first-quarter revenue and 56% increase in active members, as growing wealth creation and pandemic fears continue to drive demand for flying private.

The company, which is expected to close its merger with the blank-check firm Aspirational Consumer Lifestyle Corp. and become public this summer, saw revenue climb to $261.7 million in the first quarter compared with $156.1 million a year ago. Its losses also narrowed, as it reported a…



Source cnbc.com

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