Delta is selling its private jet branch to Wheels up. The companies have reached a definitive agreement for Delta Private Jets, a wholly owned subsidiary of Delta, to combine with Wheels Up.
When the transaction closes, Wheels Up will have a fleet of more than 190 private aircraft and over 8,000 members and customers. As part of the deal, Delta is acquiring a minority equity stake in Wheels Up. Delta acquired its Hebron, Kentucky-based private-jet company in 1999 with the acquisition of Comair Inc., the former regional airline that began the charter business in the 1980s. Wheels Up gives its members guaranteed access to a fleet of over 115 private aircraft, consisting of the King Air 350i, Hawker 400XP, Citation Excel/XLS, and Citation X, with as little as 24 hours' notice, and at fixed hourly rates for time flown only.