Private jet company Wheels Up is merging with a special purpose acquisition company to go public at a valuation of more than $2 billion — more than twice its 2019 value. The deal, expected to close in the second quarter, will make Wheels Up the first publicly traded standalone private jet company and vaults the seven-year-old start-up past many of the industry’s longtime leaders in the race to become the Uber or AirBnb of private aviation.
Wheels Up’s celebrity-laden “Super Saturday Tailgate” party, which attracted more than 2,500 people last year in Miami, is going virtual for a 75-minute presentation on the afternoon of the game. “Looking at it positively, we’re hoping to connect to more of our members across the country — not just those in the Super Bowl city,” said Executive Vice President Gary Spitalnik.
