Adds The Private Aviation Technology And Flight Management Systems Platform To Its Portfolio

Private aviation company Wheels Up has entered into a definitive agreement to acquire certain material assets of Avianis Systems, LLC, a private aviation technology company that provides an advanced Flight Management System ("FMS") for private aircraft owners, operators, management companies, charter brokers, and flight departments.

Wheels Up is making significant investments in technology that will develop new functionality to help private aircraft operators digitize and streamline their services, allowing them to benefit from tools that simplify and speed up task completion via post-booking automation; calculate real-time pricing, feasibility, and availability; and create new revenue streams through access to additional flight demand at scale. Avianis will continue to offer its FMS as a stand-alone solution to its existing and future customers.

The acquisition will also allow Wheels Up to accelerate the development of its next-level platform, including its digital Charter Marketplace, which seamlessly connects a real-time supply of safety-vetted and verified aircraft to the ever-growing flight demand driven by its over 6,000 members across North America. These members are able to instantly look, book, and fly through the Wheels Up App. Current and future Wheels Up Members will greatly benefit from a significantly larger number of private aircraft and private aircraft types to choose from, as well as even more competitive real-time pricing.

"We are excited to acquire Avianis's best-in-class technology, and we warmly welcome their talented team into our family," said Kenny Dichter, Founder and CEO of Wheels Up. "We are committed to investing in technology that exceeds the expectations of our members and partners."

Daniel Tharp, Founder and Managing Director of Avianis, added, "By joining Kenny and the Wheels Up team, we're thrilled to become part of such a powerful brand and company. We quickly recognized that the combination of our assets and teams would allow us to accelerate the development of the Avianis FMS and unlock enormous value and opportunity in an industry that is ripe for positive disruption."

Dan Crowe, CIO & EVP-Digital for Wheels Up, also noted, "The talented team at Avianis will be a formidable addition to our expanding organization as we build out the most advanced digital platform in private aviation. Avianis will further help us tech-enable operators in the running of their businesses."

The transaction is expected to close later this month.

(Source: Wheels Up news release)

FMI: www.wheelsup.com