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Wheels Up Experience Inc. has officially closed its merger with Aspirational Consumer Lifestyle Corp., making it the first private aviation company listed on the NYSE under the ticker 'UP'. The transaction was approved on July 12, 2021, and closed the following day. Wheels Up reported a remarkable 68% year-over-year revenue growth in Q1 2021, totaling $261.7 million, alongside a 56% increase in active members. The company plans to expand its private aviation marketplace and invest in technology to enhance its services.
Wheels Up announced a partnership with the NFL Players Association (NFLPA) on July 13, 2021, enhancing private aviation access for NFL players and promoting community involvement. For each Core membership sold, Wheels Up will donate $1,000 to the NFLPA Community MVP program, recognizing players for their community contributions. The collaboration also includes mentorship opportunities, NFLPA events, and exclusive benefits for players on the Wheels Up platform. Additionally, Wheels Up reported record revenues of $261.7 million for Q1 2021, reflecting a 68% year-over-year increase.
Aspirational Consumer Lifestyle Corp. (NYSE: ASPL) announced that approximately 93.6% of shareholders approved the business combination with Wheels Up Partners Holdings LLC. This decision, made during an extraordinary general meeting, represents around 63.3% of Aspirational's outstanding shares. The merger is set to close on July 13, 2021, after which Wheels Up's Class A common stock will trade under the ticker symbol 'UP' on the NYSE. Aspirational will be renamed 'Wheels Up Experience Inc.' following the completion of the transaction.
Wheels Up, a leader in private aviation, has partnered with Porsche Cars North America to enhance luxury travel experiences for its members. Effective July 13, 2021, the collaboration waives the $595 activation fee for Porsche Drive subscription services and provides exclusive access to bespoke events. Wheels Up members can enjoy seamless transfers with Delta VIP Select services to and from Flights, available in key cities including Atlanta and Los Angeles. The recent merger announcement with Aspirational Consumer Lifestyle (ASPL) follows a record revenue of $261.7 million in Q1 2021, a 68% increase year-on-year.
Wheels Up announced exclusive benefits for American Express Platinum Card Members as part of the new Premium Private Jet Program. Members can enjoy discounts on Wheels Up Memberships and access special offerings such as flight credits and exclusive lifestyle events. The program also provides transaction fee waivers for non-members wishing to use Wheels Up Marketplace. The company's SPAC merger with Aspirational Consumer Lifestyle (NYSE: ASPL) is set to close on July 13, 2021. Wheels Up reported record earnings of $261.7 million for Q1 2021, marking a 56% year-over-year growth in membership.
Wheels Up has announced a partnership with Landry's Inc. to enhance membership benefits within their private aviation service. Starting June 28, 2021, Wheels Up Core and Business Members will gain President's Club status, offering exclusive dining perks across Landry's extensive restaurant portfolio. This includes complimentary valet parking, priority seating, and unique access to The Post Oak Hotel in Houston. The partnership complements Wheels Up's strong Q1 2021 performance, with revenue reaching $261.7 million and membership growing by 56% year-over-year.
Aspirational Consumer Lifestyle Corp. (NYSE: ASPL) has scheduled its Extraordinary General Meeting for July 12, 2021, to approve its business combination with Wheels Up Partners Holdings LLC. The merger aims to facilitate Wheels Up's entry into the public market, with the closing expected on July 13, 2021, pending shareholder approval. Wheels Up is experiencing unprecedented demand, demonstrated by strong first-quarter results. Following the merger, Aspirational will rebrand as Wheels Up Experience Inc., with trading under the symbols 'UP' and 'UP WS' for its stock and public warrants.
Wheels Up introduces a customizable corporate travel solution called UP for Business, aimed at meeting the diverse needs of corporate clients. This service encompasses aircraft charter, management, and ownership options. Clients can access a large fleet of private jets and commercial travel via a partnership with Delta Air Lines. The program features dedicated account managers to optimize travel efficiency and costs. Following a SPAC merger with Aspirational Consumer Lifestyle Corp. (ASPL), Wheels Up reported $261.7 million in Q1 2021 revenue, marking a 56% year-over-year increase in membership.
Wheels Up Partners Holdings has reported a strong financial performance for Q1 2021, with revenues soaring 68% year-over-year to $261.7 million. Active members grew by 56% to nearly 10,000, while Adjusted EBITDA improved by $8.4 million to ($8.7) million. The net loss reduced significantly to ($32.2) million, down by $12.3 million from the previous year. The company attributes this growth to increased flying demand and recent acquisitions, including Mountain Aviation. Upcoming merger with Aspirational Consumer Lifestyle Corp. (ASPL) expected to finalize by Q2 2021.
Wheels Up has announced a merger with Aspirational Consumer Lifestyle Corp., valuing the private aviation brand at $2.1 billion. This strategic partnership aims to democratize private air travel through a technology-driven marketplace, expanding its reach to millions. The merger is expected to provide up to $790 million in gross proceeds, including a $550 million PIPE investment. Upon completion, Wheels Up will be publicly traded on the NYSE under the symbol UP. The transaction is scheduled to close in Q2 2021, subject to shareholder approval and regulatory conditions.
