Beechcraft Secures Largest General Aviation Propeller Aircraft Order in History, Valued at $1.4 Bn
- Deal includes up to 105 King Air 350i aircraft and associated maintenance services for Wheels Up, a new private aviation membership company, formed by Marquis Jet founder
Beechcraft Corporation today announced it has secured an order for up to a total of 105 King Air 350i aircraft, valued at $788 million, from Wheels Up, representing the largest general aviation propeller driven aircraft order in history. Wheels Up is a membership-based private aviation program that eliminates fixed costs and provides unparalleled flexibility established by Kenny Dichter and the team that founded Marquis Jet, which redefined private air travel with the first 25-hour fractional jet card program. Beechcraft has been named the aircraft and comprehensive maintenance provider for Wheels Up in North America and Western Europe, with the entire value of the deal totaling up to $1.4 billion.
The first 35 Beechcraft King Airs will be delivered to Wheels Up between now and mid-2015 with the first nine deliveries to be made in 2013. Wheels Up will initially focus on the Northeastern United States. The deal includes options for 70 additional aircraft as Wheels Up expands nationally over the next two to three years.
Commercial Aircraft Leasing Market Report 2015-2025
Bill Boisture, Beechcraft Chief Executive Officer, said, "The Beechcraft King Air 350i is the perfect aircraft for Wheels Up due to its proven track record of tremendous flexibility and efficiency for regional travel. The pairing of the 350i and support from our world-class maintenance organization with the innovative founders and management team of Wheels Up is a winning combination."
Kenny Dichter, Wheels Up Founder and Chief Executive Officer, said, "We are excited to offer the King Air 350i for the first time on an exclusive basis in a national fleet format as Wheels Up redefines private aviation's entry point."
Your company’s press release on ASDNews and to thousands of other journalists and editors? Use our ASDWire press release distribution service.
Source : Beechcraft Corp.
Dec 7 - 9, 2015 - Detroit, United States