Our attorneys represented the revolutionary new private aviation membership-based company Wheels Up in its placement of a nearly $1.4 billion order with newly reorganized Beechcraft Corp., formerly Hawker Beechcraft. The order is comprised of $788 million for up to 105 King Air 350i aircraft, as well as a $600 million contract for Beechcraft to serve as the comprehensive maintenance provider for Wheels Up in North America and Western Europe.
Beechcraft will deliver the first 35 King Air 350i aircraft to Wheels Up between now and mid-2015, with the first nine deliveries to be made in October 2013. The deal also includes options for 70 additional aircraft as Wheels Up expands nationally over the next two to three years.
Wheels Up was created and is led by Kenny Dichter, Founder of Marquis Jet and innovator of the first 25-hour fractional jet card. “Our outside counsel was the perfect team to represent the deal between Wheels Up and Beechcraft given the firm’s industry expertise and acclaimed credentials,” said Mr. Dichter. “The newfound relationship with Beechcraft is one of many partnerships that further guarantees Wheels Up will redefine the entry point for private aviation. We are truly excited to offer the Beechcraft King Air 350i for the first time on an exclusive basis in a national fleet format.”