#USA #Stamford #AIP Capital #Wheels Up #Sankaty Jet

Sankaty Jet Capital's Investment in Wheels Up

Sankaty Jet Capital, a subsidiary of AIP Capital, has recently finalized a significant financial maneuver by securing a $68 million capital infusion for Wheels Up, a prominent player in the realm of on-demand private aviation. This financial support is expected to pave the way for Wheels Up's ambitious fleet modernization strategy, allowing it to procure additional Phenom 300 and Challenger 300 Series aircraft.

The agreement, characterized as a secured mezzanine facility, will initially leverage 51 existing aircraft, which are core assets of the Wheels Up business and are valued at approximately $277.8 million. This financial backing is not merely a transaction; it represents a strategic partnership aimed at fortifying Wheels Up's position in the competitive private aviation market.

The Vision Behind the Partnership

Ford von Weise, the CEO at Sankaty Jet Capital, expressed pride in initiating this partnership. He emphasized that this bespoke financing solution would significantly support Wheels Up's fleet modernization endeavors. This vision aligns with the overarching goal of enhancing customer experience and service delivery in private aviation, which has seen increasing demand in recent years.

Scott Debano, the Head of Capital Markets at AIP Capital, echoed this sentiment by underscoring Wheels Up’s eminent status in the private aviation sector. He noted that this transaction was made possible due to a robust long-standing relationship with Delta Air Lines, which spans over two decades. Debano hinted at future opportunities for collaboration, fueled by the shared commitment to growth and innovation.

Wheels Up's Market Position

As a leading provider in the on-demand private aviation space, Wheels Up has carved out a distinct identity. The company not only boasts a substantial and varied fleet but also partners with safety-vetted charter operators to enhance service quality. With a strong focus on customer satisfaction, Wheels Up has developed charter and membership programs that cater to diverse client needs. The strategic partnership with Delta Air Lines further magnifies its appeal by providing premium commercial travel benefits.

Looking Ahead

George Mattson, the CEO of Wheels Up, articulated the strategic importance of this financing. He stated, "This strategic financing with Sankaty and AIP not only provides the investment capital needed to execute our growth plan but reflects confidence in the progress we're making towards building a strong and sustainable business." This statement encapsulates the essence of their partnership, one built on mutual trust and ambition for success.

This $68 million investment marks just the beginning of a promising collaboration aimed at growth and sustainability within the burgeoning private aviation market. As Wheels Up progresses with its fleet expansion, the aviation sector will be keenly observing how this financial boost translates into enhanced service offerings and operational efficiency.

About AIP Capital and Sankaty Jet Capital

AIP Capital serves as a global alternative investment manager with a focus on asset-based finance opportunities, particularly in aviation and equipment finance. Managing approximately $7.5 billion in assets on behalf of a diversified global investor base showcases the firm's authority in the financial sector. The team, comprised of over 60 seasoned professionals distributed across major cities including Stamford, New York, Dublin, and Singapore, exemplifies a wealth of industry expertise.

Sankaty Jet Capital aims to transform access to business aviation capital by leveraging its deep-seated industry insights and disciplined financial acumen. Established to address enduring gaps in the business aviation finance landscape, Sankaty's mission resonates with a commitment to supporting underrepresented segments in this dynamic industry.

For more information about AIP Capital and Sankaty Jet Capital, contact their respective media relations teams to explore potential collaborations or inquiries into their specialized services.