Popular private jet company with Miami ties plans to soar higher

Wheels Up, which provides its members access to a members-only fleet of over 90 aircraft, has hired bankers to assist with strategic initiatives, CEO Kenny Dichter said Wednesday.

In an interview on CNBC’s “Squawk Box,” Dichter said the company, whose enterprise value is currently at more than $1 billion, had hired three investment banks for advisement related to potential undisclosed strategic initiatives.

“There’s an unbelievable consolidation opportunity in our space,” Dichter said.

The company, headquartered in New York City also maintains a storefront in Coral Gables, FL. The current fixed hourly rate on a King Air 350i in the Wheels Up members-only fleet is $4,695.

This story has been updated to reflect that Wheel’s Up has not yet committed to an initial public offering.

This story was originally published January 30, 2019 at 3:59 PM.