Is Wheels Up for sale?

Old Feb 1, 19, 8:58 pm
  #1  
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Is Wheels Up for sale?

It looks like Wheels Up is for sale. They hired Goldman Sachs and BOA to advise on strategic options. Who will buy them?

I should note their CEO sounded more like they want to acquire companies but hiring investment banks is usually when you are under pressure to find a buyer from current investors.

Source: Private Jet Card Comparisons
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Old Feb 1, 19, 10:46 pm
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My reading of the situation is that it’s much more likely Wheels Up is looking to buy JetSmarter’s IP (and probably customer list), which are the only assets JS has.

From that link: “Our plan calls for leveraging proprietary technology that will allow Wheels Up to bring private air travel to the broader public, and make booking a private airplane as simple as booking an Uber or an Airbnb.” Where’s that proprietary technology coming from? Oh, “We have hired advisors to assist us with our pursuit of strategic initiatives that include exploring acquisition opportunities and expansion of our digital platform...”

Just who are those advisors? “We hired Goldman Sachs. We hired Bank of America and our tried and true (investment bankers) Jefferies is helping us.”

Oh, your tried and true investment bankers, Jefferies? Do they have any connection with JetSmarter, perchance? Maybe in connection with Clearlake Capital’s investment? https://www.businesswire.com/news/ho...-Capital-Group. “Jefferies LLC acted as the exclusive placement agent to JetSmarter in connection with the financing. Mr. Eghbali and Mr. Feliciano will join JetSmarter’s board of directors as part of the transaction.”

Fire sale.
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Old Feb 2, 19, 7:49 am
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Jetsmarter has stunk of desperation for quite some time IMO.
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Old Feb 2, 19, 10:49 am
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and JS is trying to time cashout exit?

WU might be seeing if new investors want to partner
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Old Feb 2, 19, 1:28 pm
  #5  
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Originally Posted by millions View Post
My reading of the situation is that it’s much more likely Wheels Up is looking to buy JetSmarter’s IP (and probably customer list), which are the only assets JS has.

From that link: “Our plan calls for leveraging proprietary technology that will allow Wheels Up to bring private air travel to the broader public, and make booking a private airplane as simple as booking an Uber or an Airbnb.” Where’s that proprietary technology coming from? Oh, “We have hired advisors to assist us with our pursuit of strategic initiatives that include exploring acquisition opportunities and expansion of our digital platform...”

Just who are those advisors? “We hired Goldman Sachs. We hired Bank of America and our tried and true (investment bankers) Jefferies is helping us.”

Oh, your tried and true investment bankers, Jefferies? Do they have any connection with JetSmarter, perchance? Maybe in connection with Clearlake Capital’s investment? https://www.businesswire.com/news/ho...-Capital-Group. “Jefferies LLC acted as the exclusive placement agent to JetSmarter in connection with the financing. Mr. Eghbali and Mr. Feliciano will join JetSmarter’s board of directors as part of the transaction.”

Fire sale.

That's interesting. Makes sense especially since the WU CEO says something about how they are now like the Amex Black Card and he wants to go down from there.
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